As I start contemplating my retirement from a regular job, I am trying to better understand various laws that may impact me.
One is the treatment of trading income as it applies to social security income. I am not at full retirement age so I understand there is a limit of about 15K on earned income above which the social security income is penalized one dollar for every two dollars earned over the 15K.
I am not clear if trading income is considered here. If it is, would I be able to trade in a deferred account or set up an account in my wife's name and trade it to avoid this penalty?
Any input appreciated.
BMW
One is the treatment of trading income as it applies to social security income. I am not at full retirement age so I understand there is a limit of about 15K on earned income above which the social security income is penalized one dollar for every two dollars earned over the 15K.
I am not clear if trading income is considered here. If it is, would I be able to trade in a deferred account or set up an account in my wife's name and trade it to avoid this penalty?
Any input appreciated.
BMW