I turn 66 on november8th today. My FRA is 66 and 4 months. If I file for Social Secutity January 8, I realize I take a reduction for the 2 months early. Will any money be taken back and if so when. I could clarify how that would and I realize you can make more the year that retire in. I believe it's over $50000.00. I was assuming that as long as you make this much before your FRA you would be ok.

Hi Larry, I am 63 years old and plan to retire mid year in 2023 (maybe April ) and take my divorced survivor benefits at that time and let my own benefits grow till I am 70.
My question is: Is there a limit to how much I can earn prior to April 2023, prior to starting social security in order to avoid any reduction in social security? Any limit on total amount earned till April 2023 and also if any limit on per month earnings (during each of the months of Jan, Feb., and March 2023) prior to retiring?

Hi,

If I start receiving ss at 62 in March , when does ss start counting the $19, 960 extra income from working , in January or March ?

Hi. First off, to clarify, the annual earnings test exempt amount for people who are under full retirement age (FRA) in 2022 is $19,560. Social Security hasn't yet stated what the exempt amount will be in 2023.

Why in the world are retirees penalized because we want to continue to work when the government pays kids out there just to stay home? Makes no sense what-so-ever!!

Hi. I assume that you're referring to the Social Security earnings test (https://www.ssa.gov/benefits/retirement/planner/whileworking.html). The earnings test can result in full or partial withholding of a person's Social Security benefits if they claim benefits prior to their full retirement age (FRA).

If you are working part time, and earning income prior to FRA, and you will be earning near or slightly more than the $19,500 limit, when are your benefits reduced? After the $19,500 has been exceeded?

How does a reduction in benefit payments affect future payments? Do you lose that amount of reduced payments forever, or can it be carried forward?

Thank you for your answer Larry. There was one other question I had and forgot to ask you.

I plan on retiring at 63 I make 25,000 a year as a seasonal employee for Nassau county how will this affect my social security benefits?

Hi. Until you reach your full retirement age (FRA), Social Security would need to withhold $1 of your Social Security benefits for each $2 that you earn in excess of that year's annual earnings test exempt amount. In 2022, the exempt amount for people under FRA is $19,560 (https://www.ssa.gov/benefits/retirement/planner/whileworking.html).

I turn 62 in 2024. Can I start collecting social security and still work my full time job?

Hello I'm 63 and 9 month old can I retired now are later at 66 year old, will any money be taking out, because I'm waiting and will I have to stop working for six month after receiving my retirement