If you have reached your full retirement age, you can collect Social Security and work without any impact on your Social Security check. That’s the good news. The bad news is that anyone younger than their full retirement age has to consider how earnings from working will affect their Social Security check. Here’s what you need to know to get started.
What counts as income?
It is important to know that the Social Security Administration only looks at work that you do for others (or yourself if you are self-employed) when considering the impact on your Social Security check. Other income, such as interest, dividends, pensions, and annuities, doesn’t count. So you are really only concerned with the size of your paycheck.
Age is the first important factor
As noted, if you have reached your full retirement age, your earnings from work will have no impact on your Social Security check. The problem is if you are younger, meaning you started collecting Social Security early. The earliest you can claim Social Security is 62. For most people, between age 62 and the month you turn 67 in the year you reach full retirement age is when you need to worry. That said, the math is slightly different in the year you reach full retirement age.
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The amount you can earn and the impact on your Social Security check
In 2026, from age 62 until your full retirement age year, you can earn $24,480 without impacting your Social Security check. Social Security will reduce your Social Security payment by $1 for every $2 you earn above that figure. That money isn’t lost, however, since the money by which your Social Security check was reduced will be used as credits when your retirement benefits are recalculated at your full retirement age.
In the year in which you reach your full retirement age, you can earn up to $65,160 before there is any impact on your Social Security check. After that level, your Social Security check will be reduced by $1 for every $3 you earn. After the month in which you reach full retirement age, your Social Security check will no longer be impacted. Again, any reductions will be used as credits when your retirement benefit is recalculated at your full retirement age.
If you are collecting Social Security, you shouldn’t be afraid to work. However, you should make sure you know the rules before it impacts your Social Security check in ways you weren’t expecting.
