Clarification of Answer by
12 Feb 2006 14:02 PST
It's not a percentage. I wish it was that simple, but it's not!
Social Security states this:
..."If you are under full retirement age for the entire year, we
deduct $1 from your benefit payments for every $2 you earn above the
For 2005, that limit is $12,000.
For 2006, that limit will be $12,480. ..."
[They don't list an "annual limit" amount for 2010, the year you will turn 62]
..."Starting with the month you reach full retirement age, you can get
your benefits with no limit on your earnings..."
[So, this means that after you reach age 66, there will be no more
deductions from your benefits if you continue to work.]
Next, I have provided a link to a "Social Security Calculator" that
you will need to input personal information to get an estimate.
Social Security Quick Calculator
This calculator will estimate your benefit amount.
Here's another: Application of Retirement Earnings Test
I think this is for folks already receiving benefits because I tried
it for myself, and they don't have a place to enter a FUTURE benefit
To fully understand, you will need to read the SS web site and poke
around there. There's 2 more calculators that will give you more
detailed answers about how much money is deducted while working.
Choose A Benefit Calculator
Please understand that this is complicated. I'm not going to be able
to tell you exactly how much will be deducted when you work, but I
have provided the Social Security resources for you to get the
information. It depends on several factors, of which are personal
information that you have not provided to me. The best way to
understand is to START HERE:
I already provided this link, but maybe you missed it:
You can work and get Social Security at the same time
Let me know if you need more assistance, I'm still willing to assist!