Another Social Security question

[oldtrig]

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

[W2R]

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:

Quote:

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.

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

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

[MichaelB]

Looks like you're fine with the Social Security, Oldtrig, and its good to know retirement is working out so far.