How much can you earn while on Social Security? If you plan to retire before your full retirement age, you need to understand the answer to this question.
Don’t miss this! You’ll receive an overpayment notice if you fail to adhere to these rules, and it may result in your benefits being terminated.
The Social Security earnings limit is one of the topics that I’m asked about all the time. When it comes up, I’ve noticed that most people ask at least one of six questions.
Those questions are:
- Why do we have an income limit?
- How much can you earn while on Social Security?
- What happens to withheld benefits?
- Is the income limit based on single or joint income?
- What if I retire during the year (after exceeding the annual limit)?
- What income counts against Social Security?
Today, I’ll give you the answer to each of these questions. When you finish reading this, you’ll no longer find this topic to be a mystifying no-man’s land waiting to trip you up.