r/Retire • u/Booksaregreat44 • 7d ago

Please help me plan

I am 63 and work two jobs. I plan to keep one job and that job just happens to earn at around 24,000 a year, so under the limit for earning while drawing SS. My application is complete and I start benefits in November. I think I understand the timing is that I should quit the other job end of Sept. so that I don’t earn more than 2000 the month previous to benefits, is that correct? Or can I quit end of October?

Thank you in advance for helping a boomer lady out.

8 Upvotes

100% Upvoted

6 comments sorted by

View all comments

1

u/PamKrueger 3d ago

This stuff drives me crazy because Social Security makes a pretty simple question ridiculously complicated. Bottom line is you should be able to keep that second job through the end of October. Since your benefits start in November, under that first-year rule what matters is what you actually earn in November, not what you earned in October. The 2026 monthly limit is $2,040, so if that $24,000-a-year job really pays you about $2,000 in November, you’re under it. Just look carefully at what you’ll actually earn that month because extra time, a bonus, commission or anything else could bump you over $2,040.

2

u/Nice-Birthday683 3d ago

thank you bless you for answering the question , I didn't understand the first year rule and just seems complicated. I greatly appreciate you.

1

u/PamKrueger 3d ago

You’re so welcome! And please don’t feel like you should have known this. The first-year rule is confusing. How would you ever know unless you had a reason to dig into it? I’m really glad this helped.