amount you can make on social security
As you know, Social Security has an earnings penalty, which governs how much money you can make while at the same time receiving benefits. Exceed an annual cap (it's currently $14,160 a year) and you'll lose part or even all of your benefit. However, the penalty applies only to people between 62 and full retirement age. After full retirement age, you can earn as much as you want. by Stan Hinden, AARP Bulletin, Updated February 2012|Comments: 0. En español | Q. I'd like to know when I can take my Social Security and continue to earn as much money as I want without losing any of my benefits. I was born on April 28, 1946. Social Security Disability doesn't have a limit on unearned income, but there is a limit on how much you can make from working. Social Security disability insurance (SSDI) is available to individuals who can no longer work due to an established disability (physical or mental). If so, there is a higher earnings limit on how much you can make before your monthly Social Security payments are reduced. In 2012 you can make up to $38,880 with no reduction in Social Security. Every $3 you make over the earnings limit will reduce your Social Security payments by $1. Social Security Benefit Amounts. This average summarizes up to 35 years of a worker's indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual. To give you an idea of what you might receive, for 2017, the average SSDI benefit amount is $1,171 per month, but those whose income was fairly high in recent years can receive up to $2,687. If you're interested in how Social Security calculates your AIME and PIA, here's how. You can earn wages up to the earnings limit of $14,640 with no reduced Social Security. In 2012, any money you make over the earnings limit of $14,640 will reduce your Social Security payments. Every $2 you make over the limit reduces your Social Security payments by $1. For 2013, that limit is $15,120. However, the Social Security Administration (SSA) does put a limit on the amount of money that you can earn through work when you receive Social Security disability benefits, because if you can earn an income, you aren't considered disabled. Social Security benefits are typically computed using average indexed monthly earnings.. This average summarizes up to 35 years of a worker's indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual. SSDI Income Limits. The SSDI program does not put a limit on the amount of assets or unearned income you have (or income that your spouse may earn), unlike the low-income disability program, Supplemental Security Income (SSI).
$15,120