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Join Date: Feb 2006
Location: Maryland
Posts: 15,441
Quote:
Originally Posted by icemann427 View Post
KC,

Until the year you turn 66, you can only make $16,920 in earned income before you lose one dollar of SS benefit for each two dollars over that limit you earn. Once you turn 66, the earned income limit is raised to $44,880 before you are penalized. As well, the older you get, there are certain ages where the earned income limits change, too.


I think many are missing the importance of the phrase 'earned income'. As stated above (correctly) the limitation is on 'earned' income. W2, 1099 (sch C) type income. NOT pension distributions, not cap gains, not S corp income.

The math on early ss is simple. from early to full you get $xx,xxx in ss income. how many months of the difference between this and FULL benefit would it take starting at full retirement age to make up that difference?

IIRC a common answer is around 7 years.

this of course doesn't factor in opportunity cost of not having early SS income to invest/pay down debt, etc. it also doesn't consider tax impacts such as pushing you to a non zero cap gains tax bracket, etc.
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Last edited by berettafan; 05-30-2018 at 05:21 AM..
Old 05-30-2018, 05:19 AM
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