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I was born in September 1954 and my statement last year from…

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I was born in...

I was born in September 1954 and my statement last year from Social Security stated that at 66 I would receive roughly $2,736 per month. I was pushed out of my job last year and have been unable to secure any meaningful work. If I started collecting a 64 and worked part time how much could I earn without being penalized and what would I collect monthly at 64 roughly

Accountant's Assistant: The Retirement Accountant will know how to help. Is there anything else important you think the Retirement Accountant should know?

No, I don't believe so, my part time job is real state

Submitted: 6 months ago.Category: Social Security
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Answered in 7 minutes by:
1/9/2018
Social Security Expert: lev-tax, Tax Advisor replied 6 months ago
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,115
Experience: Taxes, Immigration, Labor Relations
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You can get Social Security retirement benefits and work at the same time.

However, because you are younger than full retirement age and if you make more than the yearly earnings limit, the SSA will reduce your benefit.
The SSA will use the following earnings limits to reduce your benefits - when you are under full retirement age (FRA) for the entire year, they will deduct $1 from your benefit payments for every $2 you earn above the annual limit.

For 2018 that limit is $17,040.

Starting with the month you reach full retirement age, you can get your benefits with no limit on your earnings.

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Social Security Expert: lev-tax, Tax Advisor replied 6 months ago

.

Another issue if you start social security benefits before reaching your FRA - that is 66.

If you start benefits at 64 - your benefits would be 86.7% of what you were getting at 66.

See here

https://www.ssa.gov/planners/retire/1943.html

Let me know if you need any help.

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