Income

cb101 — Thu, 15 Jul 2021 18:03:58 GMT

I was told at 62 years of age you could only make certain amount of money before they'll start reducing your Social Security benefits the next year.

Re: Income

KochuK — Thu, 15 Jul 2021 18:43:02 GMT

Hi cb101, good day! Thanks for joining the Special Forum.

If a worker receiving Social Security benefits has not reached full retirement age by the end of 2021, benefits are reduced by $1 for each $2 earned above $18,960 during 2021.

Quote

Sometimes people younger than full retirement age retire in the middle of the year and have already earned more than the yearly earnings limit. There is a special rule that applies to earnings for one year, usually the first year of retirement. Under this rule, you can get a full Social Security benefit for any whole month you are retired, regardless of your yearly earnings.

Unquote

https://faq.ssa.gov/en-US/Topic/article/KA-01927

Depending on your birth year, full retirement age differs.
To find your full retirement age:
https://www.ssa.gov/benefits/retirement/planner/ageincrease.html

topic Income in Retirement tax questions

Income

Re: Income

What is the special rule about earnings in the first year of retirement?