Taking SS at FRA and working. Consequences

[nicet4]

My wife waited to her FRA while I waited until just before my 70th birthday.

It wasn't easy, I was tempted more than once to grab that free money but now I am happy I waited, it paid off big for us. Paid off big in the feeling of security knowing if I couldn't work, if I had to quit work today, we would be just fine.

By waiting after our Medicare Part B comes out we have a combined monthly income of $4,200 on social security alone and in most parts of the country two people can, or should be able to, live comfortably on that alone if there isn't a mortgage and no debts seeing how, if the only income was social security, it wouldn't be subject to any federal or state income taxes.

At 70 security means a lot to me.

If something happens to me my wife would trade her social security for mine and she would be able to live very comfortably on that alone. That is my biggest security concern because down in the south I hear to many stories of widowed ladies trying to live on $700/month and it just breaks my heart.

Obviously my opinion is to leave it alone unless you really need it and the key word is "need".

[mathjak107]

Originally Posted by davebarnes

MAGI is what should care about.

that only applies to getting ss taxed , not what you give back by working pre fra

[beer belly]

Isn't there a limit on what you can earn without penalty ?

[mathjak107]

only pre fra if you are taking about returning some ss back by working vs taxes which are a different thing altogether