How Much Can You Work Without Affecting Social Security
Category: Financial and taxes in retirement
June 29, 2022 — More than a few retirees on Social Security turn down work that they would like to do. The concern is that their benefits will be reduced, thus making the effort not worthwhile. To help people understand how work might affect your Social Security benefits, here are the facts to help you decide the best course of action. But the good news first – over the long term, working has no negative impact on your benefits, and might even help.
Reached Full Retirement Age – no problem!
If you have reached your Full Retirement Age (FRA) – 66 if you were born in 1954 or before, gradually reaching 67 for those born in 1960 or later – there is no impact. You can work and earn as much as you want and it will not affect your Social Security benefit in any way.
Comments on "How Much Can You Work Without Affecting Social Security"
William Cunningham says:
Your article states that any SS reduction from earning over their limit will be returned to you. When?
John Brady says:
The SSA will recalculate your benefit at Full Retirement Age. Then that new, higher benefit will start to be paid to you the following January. Note that it will not be a lump sum.
Admin says:
I just saw a whole string of comments on another site, unhappy that their SS benefits were partially reduced because they made too much money while they were under their FRA. Seems to be wide misconceptions that you shouldn't work after claiming SS. This thinking is like shooting oneself in the foot, in my view. You will get the money back eventually, you have more in your pocket because you are earning something, and you might even increase your average earnings for a year where you had a zero or very low income. Do you see it that way?