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Turning 62 and retiring in August.....
posted at June 9, 2013 9:26 AM EDT
Re: Turning 62 and retiring in August.....
posted at September 7, 2013 9:54 PM EDT
First: September 7, 2013
Last: September 7, 2013
In Response to Turning 62 and retiring in August.....:
[QUOTE].......and have applied for benefits. Was told because I have earned over 15000 in 2013, my benefits wont start until next year. Shouldn't that 15000 threshold begin when a person actually starts collecting benefits?? If I had turned 62 in January, Feburary or March, I could have collected right away. This does not make since. What am I missing.? Thanks.
Posted by bpou[/QUOTEd
I too plan to retire early at 63 and everything I have read says that the 1st year earnings prior to receiving benefits don't count towards the yearly earnings cap. I cut/pasted this from AARP site:
There's good news for you: Money you make prior to taking benefits won't count toward the earnings limit.
In the year you begin taking benefits, all that Social Security considers is any monthly earnings after you begin benefits. The monthly limit in 2013 is $1,260. So, if you earn less than that amount per month after you claim Social Security, you'll get your full monthly benefit. If you earn more than it, you won't receive a benefit for that month.