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Financial Consulting for Your Goals

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5240 Valleypark Drive
Roanoke, VA 24019
  • Phone:
    (540) 400-7611
  • Fax:
    (540) 904-4902
  • E-mail address: steven.devlin@lpl.com
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Financial Consulting for Your Goals

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Printed from: www.freedomfirstwealth.com
  • Freedom First Wealth Management
  • 5240 Valleypark Drive, Roanoke, VA 24019
  • (540) 400-7611 | steven.devlin@lpl.com

Working While Collecting Social Security Benefits

What Will My Net Social Security Benefit Be?

If you are collecting Social Security benefits and working, your earnings will reduce your Social Security benefit. If you are under full retirement age for the entire year, your benefits will be reduced $1 for every $2 you earn above the annual limit. In the year you reach full retirement age, your benefits will be reduced $1 for every $3 you earn above a different annual limit, but only until the month you reach full retirement age.

You can use this calculator to help determine the effect on your Social Security income from working before reaching your full retirement age.

Based on the information you provided, your net annual Social Security benefit is shown below:

Your Results

The Social Security limit is: $0.00
Your excess earnings are: $0.00
Your gross annual Social Security benefit amount is: $0.00
The reduction amount is: $0.00
Your net Social Security benefit is: $0.00

2019 Social Security limits are used in this calculator and are based on your age. The limits are typically adjusted annually.

2019 amounts are used for the gross annual Social Security benefit and are based on full retirement age with the applicable percentage reduction for receiving benefits prior to full retirement age.

This chart shows the percentage represented by your net Social Security benefit and the percentage by which your gross annual Social Security benefit could be reduced.

 

This hypothetical example is used for illustrative purposes only. Actual results will vary.

The information in this calculator is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

This material was written and prepared by Emerald Connect, LLC.
© 2019 Emerald Connect, LLC. All Rights Reserved.

Contact Us

5240 Valleypark Drive
Roanoke, VA 24019
  • Phone:
    (540) 400-7611
  • Fax:
    (540) 904-4902
  • E-mail address: steven.devlin@lpl.com

Market Watch

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Nasdaq 100 7,667.74 +0.42%
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PHLX Semiconductor Index 1,407.30 +0.08%
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Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Freedom First Federal Credit Union deposits and are not NCUA insured. These products are not obligations of the Freedom First Federal Credit Union and are not endorsed, recommended or guaranteed by Freedom First Federal Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.



Investment advice offered through Level Four Advisory Services, a registered investment advisor. Level Four Advisory Services, Freedom First Federal Credit Union, and Freedom First Wealth Management  are not registered broker/dealers, and are separate entities from LPL Financial.



The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: VA, MD, NC, PA.

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