MU Extension MU Extension       University of Missouri    ●    Columbia    ●    Kansas City       Rolla     ●    St. Louis - Money Matters - Consumer Action


Finance Quick Answers



After I retire and start collecting social security, will money I take out of my IRA’s count as income and lower my social security benefits?

According to Margaret Ringer, a reporter for Kiplinger’s Managing Money Q & A’s, only earned income effects your social security benefits, and IRA withdrawals aren’t considered earned income. Under current rules, if money comes from a job instead of from an IRA, and you’re age 65 through 69, you can earn up to $15,500 this year without affecting your benefits. Beyond that you’ll loose $1 in benefits for every $3 in earned income above the cutout. After you turn 70, you can earn as much as you want without affecting social security benefits.


Source: Ringer, M. (1999, March). IRA’s and social security. Kiplinger's, 76.





Written by:
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension

Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension











Can't Find Your Question Here? Try Searching Our Quick Answer Knowledge Base

Last update: Monday, July 28, 2008




University of Missouri logo links to

Site Administrator: 
Copyright  ADA  Equal Opportunity

MissouriFamilies is produced by the College of Human Environmental Sciences,
Extension Division, University of Missouri-Columbia