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Joe Cieslewicz, MBA Financial Advisor Am Wallgraben 100 49 (0) 7056-966-746 jrcieslewicz@firstcommand.com www.firstcommand.com/joecieslewicz.htm
Note: Data may not total 100% due to rounding. Source: Fast Facts & Figures About Social Security, 2012, Social Security Administration
Myth: If you earn money after you retire, you'll lose your Social Security benefit.
Fact: Money you earn after you retire will only affect your Social Security benefit if you're under full retirement age.
Once you reach full retirement age, you can earn as much as you want without affecting your Social Security retirement benefit. But if you're under full retirement age, any income that you earn may affect the amount of benefit you receive: If you're under full retirement age, $1 in benefits will be deducted for every $2 you earn above a certain annual limit. For 2013, that limit is $15,120. In the year you reach full retirement age, $1 in benefits will be deducted for every $3 you earn above a certain annual limit until the month you reach full retirement age. If you reach full retirement age in 2013, that limit is $40,080.
Note: If you were born on January 1 of any year, refer to the previous year to determine your full retirement age.
2013 First Command Financial Services, Inc., parent of First Command Financial Planning, Inc. (Member SIPC, FINRA), First Command Insurance Services, Inc. and First Command Bank. Financial planning services and investment products, including securities, are offered by First Command Financial Planning, Inc. Insurance products and services are offered by First Command Insurance Services, Inc. in all states except Montana, where as required by law, insurance products and services are offered by First Command Financial Services, Inc. (a separate Montana domestic corporation). Banking products and services are offered by First Command Bank. Securities products are not FDIC insured, have no bank guarantee and may lose value. A financial plan, by itself, cannot assure that retirement or other financial goals will be met. In Europe, investment and insurance products and services are offered through First Command Europe Limited. First Command Europe Limited is a wholly owned subsidiary of First Command Financial Services, Inc. and is authorised and regulated by the Financial Services Authority. Certain products and services offered in the United States may not be available through First Command Europe Limited. First Command Financial Services, Inc. and its related entities are not affiliated with or endorsed by the U.S. government or U.S. armed forces.