Earnings At Age 69

Question:
I would appreciate your reply to my question, for I do not wish to break any laws and forfeit my social security benefits. I am a 69-year old small business owner, currently working in my business. Beginning September 2004, I receive $650 per month social security money. Because of the economy, I am considering applying for a part-time job which will pay me $500 per month. If I accept this job, will I be required to forfeit my social security earning? How much, if any, over my monthly $650 benefit may I earn? Please reply.

Thank you,

Erma from California

Answer:
Don’t worry Erma. Good news! You can earn as much as you are able without any SS penalty because, at 69 you are well over Full Retirement Age. Earnings have no effect on your benefits at your age so go ahead and take that job. You will not forfeit even 1 cent of your social security benefits. I sincerely hope that all goes well for you, and your business picks up too, God willing.