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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: Advantages to working/drawing S.S. Date: 3/15/2000 9:42 AM
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Greetings, Faradeth, and welcome. You wrote:

<<My husband turned 62 December 1999 and I in February 2000. I worked for churches who did not have to pay into S.S. and I would only draw $110 per month off my S.S. so I would need to draw from him. We have a small business and he would still like to work and draw his S.S. Not meaning to be greedy. Our understanding is that we would pay back 2 of every 3 dollars made to S.S. Even doing this, would we be ahead to draw his and mine and still continueing working? My S.S. would cover the 2 dollars and leave his S.S. check in tack (dollar wise) we think plus he would have his salary. Can this be done?>>

Yes, it can be done; however, it may not work to your advantage. You should talk with your local Social Security Administration office. They can show you some numbers for a variety of situations. Keep in mind that between the ages of 62 and 65 your husband will forfeit $1 in SS for every $2 he earns above $10,080 this year. He loses the entire benefit when he earnings exceed $10,080 plus the product of two times his SS. Your benefit would be roughly 37.5% of the benefit he would be entitled to at age 65. His work won't affect that benefit, but if you also have earnings, then you would forfeit part of your check under the same formula as he does. IMHO your best bet is to get the SSA office to run some numbers for you.

Regards..Pixy
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