Thinking about a Part-Time Job? Social Security and Medicare Implications

If you are like many federal government or USPS retirees, you are contemplating a part-time job to help supplement your retirement benefits and savings.   Many don’t realize that a part-time job can have Social Security and Medicare implications.  Here are some things to keep in mind:

  • If you start taking Social Security before your full retirement age, earning more than $17,040 from work will reduce your benefits temporarily.
  • Once you’re on Medicare, extra income could potentially trigger surcharges for parts B and D.
  • Also, don’t overlook your required minimum distributions from retirement accounts once you reach age 70½.

Case In Point

We know of a man who took Social Security at age 62 and got a bill from them for $2,000 when he was 65 because his new career made more than his previous one. Of course the new job was too lucrative to quit over the $2,000, but a shocker nevertheless.

Free Retirement Analysis

If you are contemplating returning to work and would like a FREE personal benefit review visit our website or call 866-201-7829.