Social Security recipients will get a 3.6% raise in 2012. They went a couple of years without a raise, because there supposedly was no inflation during those years.
A frequent question is, what happens if I retire before the full retirement age? People can retire at age 62 if they want, but their monthly checks will be less, and they will have limits on the amount of income they can earn before their benefits are reduced. After full retirement age (which is 66 for people retiring in 2012), you can earn as much as you want without any limitations on your SS benefits.
The earnings limits for people under 66 apply only to "earned" income, not things like rents received, interest, dividends, etc.
In 2012, the amount a person under 66 can earn without benefit cuts will be $14,640.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment