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Asked by a 61 year old man from CA on 1/13/2017
Pete Woodring
Pete Woodring, RIA says
The income you receive between Jan. - Aug. 2017 will count towards the wage limit. (Read More)
Asked by a 61 year old man from CA on 1/13/2017
Peter Karp
Peter Karp, RIA says
From Peter Karp- peter@karpcapital.com. The wage limit referenced is from the Social Security administration. This is the Exempt amounts under the earnings test and applied to people retiring below the normal retirement age (NRA). Social security withholds benefits if your earnings exceed a certain level. This is calculated based on the year prior ... (Read More)
Asked by a 73 year old man from WA on 1/12/2017
Tricia Drago
Tricia Drago,  says
Having a spouse younger than 62 does not exclude you from obtaining a Reverse Mortgage, so long as you qualify based on the younger spouses age and your home equity. The younger spouse is considered a "NBS" or Non-Borrowing Spouse. For more information about Non-Borrowing Spouse with regard to Reverse Mortgage please visit this ... (Read More)
Asked by a 61 year old man from CA on 1/13/2017
Dana Anspach
Dana Anspach, CFP, RIA says
The earnings reduction applies only to earnings you receive AFTER you start collecting Social Security benefits. The 2017 limit is $16,920. Additional details are in my article on TheBalance at: https://www.thebalance.com/how-does-the-social-security-earnings-limit-work-2388828 (Read More)
Asked by someone from CA on 1/10/2017
Steve Chen
Steve Chen,  says
You can look up your Social Security benefit by creating an account here: https://www.ssa.gov/myaccount/ It may also tell you how much you can get from long term disabilty, but I'm not sure. (Read More)
Asked by someone from MO on 1/5/2017
Steve Chen
Steve Chen,  says
Since 66 is your full retirement age, then next year you can earn $44,880 before July 2017 without facing the work penalty. "In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit. In 2017, the limit on your earnings is $44,880 but we only count earnings before the month you reach your ... (Read More)

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