Getting Social Security and working

[Zoe]

I figure many AF have retired and collecting SS and what are the costs in earning money from their experience.
If the threshold is $36,000, I aim to earn that much and stop.
I do know when 65, I get medicare so that is great in saving health cost there ( I believe regardless if I have earn income).

Sir, get on medicare as soon as you can. I have read many posts on this forum that said they were so glad when they reached age to get on medicare.

You can still work and be on medicare. No income limits to be on medicare.

Different Sir from Social Security.

 

[Zoe]

Fernando, you probably have a LLC or corporation where you can limit your income. Don't play me boy.

 

[KHS445]

Go to the Social Security Administration website and set up an account. You can then run a number of different scenarios to see what you will receive in benefits at different ages. It also has a good FAQ section.

 

[Zoe]

Take care of your tenants Sir. They will like you. You claim medicare when you can. You claim social security for your family when you want to.

It is your choice Sir.

 

[Zoe]

Okay, Fernando, have you thought about a management agency to manage your rental property? They might charge you what?

You can get several bids. Think about it Sir. I like you Fernando.

They don't have to drive a TESLA Fernado.

Go with someone you trust.

 

[Zoe]

I'm planning ahead. If I get Social Security when I turn 62, can I continue doing appraisal work?
For those who retired, is there a limit in earned income before it's detrimental.

Don't press me Fernando.

 

[Zoe]

For your reference on pressing someone Fernando:

Definition of PRESS

a crowd or crowded condition : throng; a thronging or crowding forward or together… See the full definition

www.merriam-webster.com

 

[Fernando]

Okay, Fernando, have you thought about a management agency to manage your rental property? They might charge you what?

You can get several bids. Think about it Sir. I like you Fernando.

They don't have to drive a TESLA Fernado.

Go with someone you trust.

There's tax savings in actively managing own properties.
Tenants don't bother me much. They know I will raise their rents if I have to spend excess money in the properties.
Don't need property manager since it's just collecting the rents.

 

[BRCJR]

Do you know what is the threshold?

Depends on how you file your tax return.

Is Social Security Income Taxable? (2024 Update)

If your Social Security income is taxable depends on your income from other sources. Here are the 2024 IRS limits.

smartasset.com

 

[alebrewer]

Then retire because time > money.

If only folks understood this simple inequality.