Collecting Social Security While Working-Collecting Social Security While Working

Video Transcription

Video Summary

In the video, Yvette from AARP discusses the Social Security retirement earnings test. If you're at Full Retirement Age or older, you can work and earn any amount without affecting your Social Security benefit. However, if you're below Full Retirement Age, there's a limit on how much you can earn before it impacts your benefit. The limit changes yearly, and the government reduces your monthly benefit by $1 for every $2 you earn over the limit. Self-employed individuals have a similar earnings limit based on net income. Once you reach Full Retirement Age, the earnings limit is removed, and your benefit is increased to recoup any lost benefits. The video also includes information about Full Retirement Age, special earnings limit rules, benefit adjustments when reaching Full Retirement Age, and how Social Security calculates retirement benefits. If you have questions or need assistance, you can contact your local Social Security office or visit ssa.gov.

Keywords

Social Security retirement earnings test

Full Retirement Age

limit on earnings

self-employed earnings limit

benefit adjustments