Can you collect spouse social security while working? This is a common question among individuals who are nearing retirement age or have already retired. The answer to this question depends on various factors, including your own work status, your spouse’s work history, and the specific rules set forth by the Social Security Administration (SSA). In this article, we will explore the circumstances under which you can collect spouse social security benefits while still working.
First and foremost, it’s important to understand that you can indeed collect spouse social security benefits while you are still working. However, there are some conditions that must be met. According to the SSA, you can start receiving spouse benefits as early as age 62, but there are limitations if you continue to work.
One of the key factors to consider is your own earnings. If you earn more than a certain amount, which is adjusted annually, your spouse benefits may be reduced. For the year 2023, the limit is $21,240. If you earn between $21,240 and $29,960, your benefits will be reduced by $1 for every $2 you earn over the limit. If you earn more than $29,960, your benefits will be suspended until the following year, when you file your tax return.
On the other hand, if you are receiving spouse benefits and decide to return to work, there is no limit on how much you can earn. This means that you can continue to work full-time without affecting your spouse benefits.
It’s also important to note that your spouse’s work history will play a role in determining the amount of benefits you can receive. If your spouse has a higher Social Security benefit than you do, you may be eligible to receive a spousal benefit based on their earnings. However, if you are currently receiving your own retirement benefits, you may not be eligible for a spousal benefit based on your spouse’s earnings until you reach full retirement age (FRA), which is typically between 66 and 67, depending on your birth year.
In summary, you can collect spouse social security benefits while working, but there are certain limitations and conditions to consider. It’s crucial to understand the rules and plan accordingly to maximize your benefits. Consulting with a financial advisor or the SSA can provide you with personalized guidance to make the best decisions for your unique situation.
