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  1. #1
    Join Date
    Feb 2015
    Posts
    2

    Default Does Part Time Work Affect Social Security Benefits After Early Retirement

    easy question, if I retire in Sept. at age 62 can I work some sort of part time work while drawing my SS. And if so how much example say like 600 a month or less

  2. #2
    Join Date
    Mar 2013
    Posts
    17,919

    Default Re: Early Retirement

    That was such an easy question that I found the answer in about 3 seconds on the SSA website.

    If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2015, that limit is $15,720.

    http://www.ssa.gov/retire2/whileworking.htm

    You can make up to about $1300 per month and not lose any benefits.

    If you make more than that you still get to keep $1 out of every $2 you make and you don't actually lose that money. It's applied to future benefits. Plus, while you are working you are still contributing to SS so as to enhance future benefits.

  3. #3
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Early Retirement

    Your retirement benefit would be reduced by 25%. Until you reach age 66, your benefits would further be reduced by $1 for every $2 you earn above $15720.

    http://www.socialsecurity.gov/retire2/agereduction.htm

    http://www.ssa.gov/pubs/EN-05-10069.pdf

  4. #4
    Join Date
    Feb 2015
    Posts
    2

    Default Re: Early Retirement

    ok thanks, the reason I ask is that I am already receiving a retirement check from one company and in sept I will be 62. was thinking of taking early retirement and I already have a company that want me to work for them whenever I want they said they would pay me anywhere between 500 and 800 a month. this is all the money I would ever need between SS, the company retirement check and say 500 to 800 would not need any more than that

  5. #5
    Join Date
    Mar 2013
    Posts
    17,919

    Default Re: Early Retirement

    Quote Quoting jlawson435
    View Post
    ok thanks, the reason I ask is that I am already receiving a retirement check from one company and in sept I will be 62. was thinking of taking early retirement and I already have a company that want me to work for them whenever I want they said they would pay me anywhere between 500 and 800 a month. this is all the money I would ever need between SS, the company retirement check and say 500 to 800 would not need any more than that
    Go for it.

    I would take that in a heartbeat.

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