Can you work while collecting Social Security?

Transcript

Yes, you can work while collecting Social Security retirement benefits. But if you are under full retirement age, the earnings test can temporarily withhold some of your checks. In twenty twenty-six, if you are under full retirement age for the entire year, the earnings limit is twenty-four thousand, four hundred eighty dollars. Social Security withholds one dollar in benefits for every two dollars of wages or net self-employment income above that amount. In the year you reach full retirement age, the limit rises to sixty-five thousand, one hundred sixty dollars. Only earnings before the month you reach full retirement age count, and the withholding rate becomes one dollar for every three dollars above the limit. Starting with the month you reach full retirement age, there is no earnings limit. One important point: benefits withheld under this test are not simply lost. Social Security later recalculates your monthly benefit to account for months when benefits were withheld. And this earnings test is separate from whether your Social Security benefits are taxable. This was Retirement IN60seconds. One question. One minute. One useful answer.