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Social Security

Once you start collecting social security, does any future

Customer Question
investment income affect your social...
Once you start collecting social security, does any future investment income affect your social security payments
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: My mother (88yo) complains to me her social security payment went down. I told her she would loose some because madicare premieums went up. Are there any other reasons her beneifets would go down?
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: no
Submitted: 1 year ago.Category: Social Security
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Answered in 2 minutes by:
10/25/2016
Social Security Expert: TaxRobin, Tax Preparer replied 1 year ago
TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 15,888
Experience: 15+ years in tax preparation and instruction
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Social Security Expert: TaxRobin, Tax Preparer replied 1 year ago

When a person is collecting benefits based on earned income then investment income would not reduce the benefits. Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes.

Factors that may, or may not, affect your retirement benefits include getting benefits while still working and not being at full retirement age. This does not appear to be relevant for your mother's situation.

You are correct, medicare premiums went up and that is most likely what has reduced her monthly amount unfortunately.

If you rate in a positive way (look for the STARS or SMILEY FACES) I am credited with responding. It adds nothing to your costs but it assists me.

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Category: Social Security
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