Retirement Tip #3: Working Part-Time During Retirement

December 20, 2019

We know talking with a parent about money is hard. That’s why at Kindur we’re here to help you start the conversation that will help Mom and Dad #retirefearlessly.

Our next topic is about Social Security and part-time income. Baby Boomers are staying active in retirement. In addition to spending time with family and traveling more, some are choosing to take on part-time jobs; in fact your next Airbnb host or Uber driver is very likely to be a retiree!

But Social Security has a few catches. Deep in the 300 page Social Security books at Barnes & Noble you will find a dated rule called the Retirement Earnings Test. Read on to get the quick facts.

Should Mom and Dad take Social Security early or continue to let it grow while they rely on their part-time salary?

Mom and Dad should be aware of the annual earnings limit, also known as the Retirement Earnings Test. The earning limit for those who have elected to take their Social Security benefit early is currently $17,640 and will increase to $18,240 in 2020.

What if your parents are earning income above this level? 

One dollar in benefits will be withheld for every $2 in earnings above the limit. They will get it back in the future but Mom and Dad may be better off deferring their Social Security election (which grows at 8% per year deferred). 

We’ve got Mom and Dad covered.  Kindur advises retirees on their complete retirement income picture. This includes

  • Deciding the optimal time to take Social Security benefits
  • Access to retirement planning tools
  • Conversations with financial advisors if your loved one has any questions along the way

Kindur is a New York based financial technology company dedicated to helping Baby Boomers feel prepared moving into retirement. We provide smart, automated advice to personalize your retirement strategy so you can manage your savings with confidence. Learn more at

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