Wisdom to Wealth- April 6

Published: Apr. 6, 2021 at 5:48 PM EDT
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John Halterman: You know, people often ask me, ‘Can you collect social security benefits and still earn an income?’ Well, the simple answer is yes, you can do that. But, it’s just a little more complicated than that. And the reason I say that is because it’s going to depend upon your age, how much you earn and then the sources you earn it from. Let me give you a quick example. If you collect earning benefits, the amount of earnings you can get is actually limited, and if you earn over that amount, Social Security will be reducing your benefit. Now, if you’re collecting early and you’ve now obtained your full age, then they’re going to be much, much more liberal when it comes to that. And, if you had to reduce your benefits, once you get to full age, they’re actually going to recalculate and give you some of that money back. But let’s say you didn’t start until full benefit time. Well now you can earn as much as you want, there’s no restrictions, whatsoever. So, for more answers, call or visit my website today.

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