Timothy Sumer

Social Security retirement checks refer to the monthly benefit payments that eligible individuals receive from the Social Security Administration upon reaching their eligible retirement age and applying for benefits. These payments are intended to provide financial support to retirees and help them maintain a basic standard of living during their retirement years. Key points about Social Security retirement checks: Eligibility: To be eligible for Social Security retirement benefits, individuals generally need to have accumulated enough work credits through their employment history. Work credits are earned based on the individual's earnings and the number of years they have worked and contributed to the Social Security system. Full Retirement Age (FRA): The full retirement age is the age at which individuals can receive full Social Security retirement benefits. It varies based on the year of birth, ranging from 65 to 67 years. Individuals can choose to start receiving r

This video discusses the Social Security Annual Earned Income Limit and working while collecting Social Security. The video discusses first year exceptions to the earnings limit, often called the Monthly Earnings Rule, or the "Grace Year" exemption, how this exemption is applied if you earn more than the monthly limit in any given month and what happens to spousal and child benefits if your benefits are suspended due to excess earnings. The video ends with a discussion on what constitutes earnings in the eyes of the SSA. FREE Retirement Ready Checklist: Holy Schmidt Book Club: Important Links: Follow Me on Instagram: Geoff's Facebook Page Federal Reserve Board Survey of Consumer Finances: Social Security Administration Application for Benefits Current Social Security Cost of Living Adjustment Social Security Payment Estimator THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? 7 GOOD REASONS to File