Q And A...Social Security Benefits And Working Part Time
Here's a common question and response from AARP's "Ask the Experts."
Q. I am 63 and thinking about retiring from my full-time job and working part time elsewhere. Can I do that and still collect my Social Security benefits?
A. Yes, but if you have substantial earnings, your Social Security benefits will be reduced. In 2008, people ages 62 to full retirement age can earn up to $13,560 and still receive their scheduled Social Security benefits. If you earn more than that but less than $36,120, Social Security withholds $1 in benefits for every $2 you earn. Individuals whose income is above $25,000 and joint filers with combined incomes of more than $32,000 might have to pay taxes on up to 85 percent of their benefits.
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