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However, there's a different earnings-test limit for people who will be reaching full retirement age in 2025 but aren't there at the start of the year. That limit is $62,160, up from $59,520 in 2024.
You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
The limit only applies if you claim Social Security before reaching your full retirement age. The earnings limit increases (to $56,520 in 2023) for the calendar year in which you’ll reach full ...
The $ 22,924 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known ...
If you’re before full retirement age: Those earning more than the earnings limit ($22,320 for 2023) will have $1 withheld from their Social Security benefit for every $2 earned above the limit ...
If you are younger than full retirement age and earn more than the SSA’s yearly earnings limit, your benefits might be reduced. The full retirement age is either 66 or 67 years old , depending ...
If you’re under the full retirement age, however, the annual earnings limit is $22,320 for 2024. If you earn more than this, the SSA will deduct $1 for every $2 you have earned above the limit.
If you're within 36 months of your full retirement age, the Social Security Administration reduces your monthly payout by 5/9 of 1% for each month you claim early. Beyond 36 months, the program ...