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Is 401K savings considered earned income while collecting Social Security?

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No. Distributions from a 401k are unearned income for Social Security purposes, and do not affect the benefit amount you receive under regular SS retirement or SSDI (disability) programs. Only SSI (Supplemental Security Income, a form of welfare) payments are means-tested and offset by either earned or unearned income.
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Is Social Security earned income?

No. The Social Security benefits would be a part of all of your other Unearned Income for the year. You are not working for the benefits that are paid to you during each year.

How much income can you earn in 2010 and collect Social Security at age 62?

If you are 62 years old in 2010, you will reach full retirement age at 66. Under 2010 SSA guidelines, people who have not yet reached full retirement age can earn only $14,160

How much money can you earn while collecting Social Security if you are 65?

Age 65 the earnings test will still apply for the year 2009 and 2010 the amount is 14160 of earned income. Full Retirement Age (FRA) or Normal Retirement Age (NRA) has changed

Does Social Security count 401k as income?

My CPA, has advised me, that you can take funds out of your 401k/IRA without any penalty or it being counted against your income. Bottom line, it is not counted as earned inco

How much can you earn while collecting Social Security after age 70?

There is no limit on the amount of money you can earn while receiving Social Security retirement benefits after you reach full retirement age. At 70, you are well clear of tha

What is considered income while on Social Security?

Social Security only considers earned income from an employer or self-employment, up to a cap of $106,800.00, to count as income for their purposes. Typical sources of unear