10 Frequently Asked Social Security Questions Worth Revisiting - GOBankingRates

You do not have to stop working to receive Social Security benefits, but it may affect what you collect. Benefits are available to access at 62 years of age, and many seniors continue to work after opting to start their benefit payments. However, the amount you earn could potentially cause some or all of your Social Security benefits to be withheld, depending on your age and your income.

Using a 2019 example from The Motley Fool, if you are due to receive $16,800 in Social Security income, and you earn $60,000 per year, you will have earned $42,360 above the $17,640 allowable earnings threshold ($60,000 minus $17,640). Because benefits are reduced $1 for every $2 earned, so you can divide the excess earnings of $42,360 by 2 and see that $21,180 in benefits would be withheld. In this scenario, your entire Social Security benefit for that year would be withheld because it is more than the benefits you received.

The Social Security Administration website has plenty of information on retirement age and available benefits.

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