topic Re: Income in Retirement tax questions

Income

cb101 — Thu, 15 Jul 2021 17:33:38 GMT

How much income can you make at age 62 and collect Social Security. And do 401k contribution go toward that income because it's not taxable.

Re: Income

Kelly Thomas C — Thu, 15 Jul 2021 17:40:14 GMT

You can make as much money as you wish and still collect SS. The amount you earn impacts whether that income is taxable or not. So keep earning!

Re the 401k contributions? Not taxable so does not impact SS at all.

Good luck!

Re: Income

paulkings0430 — Thu, 15 Jul 2021 17:53:46 GMT

I was on SS disability until I turned 66 and now I am receiving regular SS income. I work part time. How much money can I earn before it is dipped into my SS income?

Re: Income

VolvoGirl — Thu, 15 Jul 2021 18:02:09 GMT

There are 2 different things to know about social security. People get them mixed up all the time.

1. Your actual SS checks

If you are over full retirement age your actual ss checks won't be reduced. Otherwise they will actually reduce your payments if you make too much other income in the prior year. See SS FAQ for working after retirement

https://www.ssa.gov/benefits/retirement/planner/whileworking.html

2. Income Tax

For any age up to 85% of Social Security becomes taxable when ALL your other income plus 1/2 your social security reaches:

Married Filing Jointly: $32,000

Single or head of household: $25,000

Married Filing Separately: 0