Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Another Social Security question
Old 05-07-2012, 11:27 PM   #1
Recycles dryer sheets
oldtrig's Avatar
Join Date: Mar 2009
Posts: 458
Another Social Security question

I think I know the right answer but wanted to confirm. I know the limit is $14,640 on what I can earn in 2012 because I am not 66 yet . My question is this. When does this start? I made over that in the month of January and February if selling my sick and vacation leave counted. I retired March 1st 2012. Is that when the $14,640 limit starts or is it the entire year? I am thinking it starts the day I retire and from that day on until the rest of the year. Is that correct. By the way I am not going back to work anytime soon as I love this thing called retirement. Thanks. oldtrig

oldtrig is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-08-2012, 12:04 AM   #2
Moderator Emeritus
W2R's Avatar
Join Date: Jan 2007
Location: New Orleans
Posts: 42,702
I found this on the Social Security website. It looks like money earned in the year you claim SS, before you get it, will not be a problem for you if you meet certain requirements after you start getting SS:

Some people who retire in mid-year have already earned more than their yearly earnings limit. That is why we have a special rule that applies to earnings for one year, usually the first year of retirement.

The special rule lets us pay a full Social Security check for any whole month we consider you retired, regardless of your yearly earnings. If you will
  • be under full retirement age for all of 2012, you are considered retired in any month that your earnings are $1,220 or less and you did not perform substantial services in self employment.
  • reach full retirement age in 2012, you are considered retired in any month that your earnings are $3,240 or less and you did not perform substantial services in self employment.

I am so glad to hear that you are loving retirement!

I have drunken deep of joy,
And I will taste no other wine tonight.

― Percy Bysshe Shelley
W2R is online now   Reply With Quote
Old 05-08-2012, 05:44 AM   #3
MichaelB's Avatar
Join Date: Jan 2008
Location: lumpen slums of cyberspace
Posts: 30,215
Looks like you're fine with the Social Security, Oldtrig, and its good to know retirement is working out so far.
MichaelB is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

» Quick Links

All times are GMT -6. The time now is 02:01 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.