I am 65 1/2 years old, and as a homemaker I have never been employed. Am I eligible for some Social Security benefits whil...Read more
Yes, you can collect Social Security benefits while working, but it may not make sense to do so.
Many people continue to work beyond retirement, either by choice or out of necessity. But if you decide to start receiving Social Security benefits, you need to be aware of how working can affect your benefit payments. Earning income above Social Security thresholds can cause a reduction in benefits and mean your benefits will be taxed.
Local Elder Law Attorneys in Ashburn, VA
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
For Jeffrey Hammond, the practice of Elder Law is personal. Jeff’s many years of experience in law and in business did not prepare him for the crisis he faced in 2005 and 2006 when his father suffered a stroke and both of his parents suffered from dementia and other medical problems. At that time, Jeff began an i...
If you work and are at full retirement age or older, you can earn as much as you want and your benefits will not be reduced, although they may be taxed if you earn above a certain level. If you are younger than full retirement age and already collecting Social Security, there is a limit to how much you can earn and still receive full benefits. Whether it makes sense to work and collect Social Security at the same time is a complicated assessment that depends on how much you earn and when you begin taking Social Security benefits.
For more information on how work affects Social Security benefits, click here.