Episode 45: Post-Retirement Work, and Social Security Disability Benefits

This month’s listener question episode is chock-full of fascinating information. Both questions delve deep into the rules of Social Security and bring together various different issues at the same time.

The first question comes from Brian, who wants to know how returning to work will impact Social Security. He didn’t provide a lot of details, so Devin and John explore the different ways that working can affect your Social Security benefit. In particular, if your post-retirement yearly earnings are more than some of your pre-retirement yearly earnings, your post-retirement work could increase your Social Security benefit.

Joseph has a complicated question about benefits for his disabled child. Joseph is the father, and he did not pay into Social Security because he was covered under a teacher’s retirement program. He has a child that has been disabled since birth, and now he is also disabled. John explains how and why the child may be eligible for Supplemental Security Income (SSI).

Highlights include:

  • John learns something new about Social Security
  • How Social Security inflates your previous earnings to come up with your current benefit
  • The difference between Supplemental Security Income (SSI) and Social Security Disability Income (SSDI)
  • How a first party special needs trust can help you qualify for disability benefits

Resources mentioned in this episode:

Social Security online calculator:  https://www.ssa.gov/planners/retire/AnypiaApplet.html

Devin’s guide to the Social Security calculator:  Online Social Security Calculator:  Your Step-By- Step Guide

Where to get your benefits estimate and earnings history:  https://www.ssa.gov/myaccount/

The first episode of Big Picture Retirement:  The Four Corners of a Successful Retirement

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