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If you work during retirement, you have another incentive to delay collecting Social Security. Earning too much at a job after you begin collecting your benefit can reduce your payout, but only if ...
For example, if you earn $20 per hour, you can work 978 hours per year before your Social Security benefits are reduced, assuming you haven’t yet reached full retirement age.
You can work and still receive Social Security if you have reached your full retirement age, which is between 66 and 67 depending on your birth year. This is true no matter how much income you earn.
For example, if you earn $20 per hour, you can work 978 hours per year before your Social Security benefits are reduced, assuming you haven’t yet reached full retirement age.
As the Social Security Administration (SSA) points out, it is perfectly fine to work full time and collect Social Security when you turn the eligible-to-collect age of 62.
If you work and earn $32,320, which is $10,000 over the $22,320 limit, your Social Security benefits would be reduced by $5,000 — $1 for every $2 over the limit. So, you would receive $4,600 of ...
If you were born in 1957, for example, you would have reached your full retirement age — and become eligible to collect your full Social Security benefits — when you turned 66 years and 6 months.
And the difference in waiting until FRA versus 62 years old can be financially significant, with the Social Security Administration noting that someone retiring at FRA in 2024 could get a maximum ...
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