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How Much Can I Make While On Social Security?

Collecting Social Security benefits has some restrictions that limit extra income that can be made, “How much can I make while on Social Security?”

Social Security is not always enough money for the retiree that wants to do more than make ends meet. Therefore, many retirees decide to take on a part time job that will help supplement their Social Security benefits. The question then is, “How much can I make while on Social Security?”

How much can I make while on social security?

After you reach full retirement age the amount of money that you can earn over and above Social Security benefits is unlimited. That retirement age depends upon when you were born.

How is Social Security affected before full retirement age?

Before you reach full retirement age and you are collecting Social Security payments there will be $1 deducted for every $2 that you earn above $14,160 prior to the year you reach retirement age. In the year that you reach full retirement age, there will be $1 deducted for every $3 that you earn above $37,680 until the month of your birthday.

How are these deductions made?

After these deductions have been calculated, Social Security will withhold all benefit payments to you until the amount has been satisfied. That means that you will not receive another check until the total amount of deductions has been met.

How much can I make while on social security?

It all depends on whether you are full retirement age or not and upon the time of the year that you actually reach that age. You should speak with an agent of Social Security to make sure that any advice you receive is correct. This is such an important issue and will affect your quality of life so do your homework and get the right information.



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