Do we or don't we?
Short story, we bought a travel trailer and fell in love with a campground so much, we bought a park model, no note. 5 years later (right on my predicted schedule) we bought another travel trailer,...
Forum Discussion
DallasSteve wrote:timmac wrote:
Yes your right you don't have to work 5 more years before collecting S.S. at 67 vs early draw that is if you have the funds, but if one does not have enough funds and wants to retire at 62 they can and still earn up to $17,040 a year and still collect the full early/reduced amount before S.S is reduced $1 for every $2 earned over the $17,040 a year.
I say work is overrated and one should retire as soon as they can if they can afford it..
Hence why I own a business and work 20 hours or less per week and earn 6 figures per year.. { I am still to young to draw early S.S }
I will retire at 62 and collect my early/reduced S.S. full amount and still earn over $100,000 per year without any $$ penalties, ask me how I can do that..
:B
Well, I wasn't going to ask, but my guess is that the $100,000 is what the IRS calls "unearned income", meaning it's something like dividends or interest or capital gains. Or maybe you defer the income in your business somehow.
Nope the year I turn 62 I will sign my business 100 percent over to my wife that is 7 years younger and draw zero salary than I will get my early S.S.
S.S. rule for early retirement does not care what the spouse makes, only the one applying has to make less than $17,040 per year..
Legal loophole that can only be done with business owners..
:B Shh don't let Bernie know he will try and change this rule... :C
