Early Retirement Forums

Go Back   Early Retirement Forums > General > FIRE and Money





Reply
 
Thread Tools Search this Thread Display Modes
Old 01-13-2004, 04:37 AM   #1
renferme
Recycles dryer sheets
 
Join Date: Oct 2003
Posts: 452
might be a dumb question

this may be a dumb question, but I'll ask because I don't know the answer. Here it is: when reaching age 62 and beginning social security and, at the same time, receiving a pension.
If working after age 62 and earning over X dollars, social security is reduced 1 dollar for every 2 earned.
Does the pension count ? In other words, will the pension have the effect of reducing social security payouts ?
renferme is offline   Reply With Quote
Old 01-13-2004, 05:10 AM   #2
Jarhead*
Thinks s/he gets paid by the post
 
Join Date: Dec 2003
Posts: 1,373
Re: might be a dumb question

Bennevis:

Your pension will have no effect on the amount that you receive in Soc. Sec. (Earned income is the criterea that is used for adjustment).
The only effect that your pension, or any other passive earnings have of Soc. Sec. is that it will be a factor when computing how much your soc. sec. will be taxed.
Jarhead
If you want an explanation of the formula for that, Ted, Cutthroat, TH, or some of the other statiticians on this board will help you. (You guys thought you were retired, didn't you?)
Jarhead* is offline   Reply With Quote
Old 01-13-2004, 05:25 AM   #3
Cut-Throat
Guest
 
Posts: n/a
Re: might be a dumb question

bennevis,

I think jarhead has it correct. IF you follow this link the Social Security site is quite helpful. They even have a calculator that you can download to your computer and calculate your benefits.

Here is the link.

http://ssa-custhelp.ssa.gov/cgi-bin/...cGFnZT0x&p_li=
  Reply With Quote
Reply


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
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dumb Question.............:) FinanceDude Health and Early Retirement 4 12-16-2006 03:58 PM
Dumb ipod question brewer12345 Other topics 6 08-16-2006 11:16 AM
MOVED: Dumb social security question Cut-Throat Life after FIRE 0 09-06-2005 03:12 PM
Dumb social security question modhatter FIRE and Money 1 09-05-2005 06:54 PM
A Very elemteray - probobly dumb question modhatter FIRE and Money 9 08-20-2005 08:34 AM


All times are GMT -6. The time now is 09:39 PM.

Other Social Knowledge forum communities:
Cooking Forum - Sailing Forum - Early Retirement - Airstream Trailer - Aquarium Forum - Royal Forum - Book Forum - Volkswagen Touareg Forum - Jeep Wrangler Forum - Whitewater Kayaking & Rafting Forum - Fiberglass RV Forum - RV Forum - Truck Conversion - U2 Music Forum
Social Knowledge Networks
Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.2.0