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I plan on retiring in April how much can I make before I…

Customer Question
I plan on retiring...

I plan on retiring in April how much can I make before I RETIRE

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I was told I could make whatever amount before I retire and after that its so much a month I am 65

Accountant's Assistant: Is there anything else the Retirement Accountant should be aware of?

Not that I can think of what do you need

Submitted: 4 months ago.Category: Social Security
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Answered in 13 minutes by:
3/25/2018
Social Security Expert: lev-tax, Tax Advisor replied 4 months ago
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,268
Experience: Taxes, Immigration, Labor Relations
Verified

You can get Social Security retirement benefits and work at the same time.

However, if you are younger than full retirement age and make more than the yearly earnings limit, the SSA will reduce your benefit.

They use the following earnings limits to reduce your benefits:

If you are under full retirement age 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.

In the year you reach full retirement age, they will deduct $1 in benefits for every $3 you earn above a different limit, but we only count earnings before the month you reach your full retirement age.

If you will reach full retirement age in 2018, the limit on your earnings for the months before full retirement age is $45,360.

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

Your full retirement age is between 66 and 67 depending on your year of birth.

Let me know if you need help with determination.

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Social Security Expert: lev-tax, Tax Advisor replied 4 months ago

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