How much can I earn And Still Receive Social Security benefits?
The first thing you should know is that you can indeed work and get social security benefits at the same time, but if you are younger than the retirement age and earn more than a certain amount, the social security benefits you receive will be reduced.
How Much Can You Earn?
In 2011, if you were born between Jan. 2, 1943 through Jan. 1, 1955, your full retirement age is 66 years of age. It is important to know that if you work and are of full retirement age you are entitled to keep all of your social security benefits, no matter how much money you earn. If you are not full retirement age, social security will deduct one dollar for every two dollars that you earn over $14,160. If you happen to reach full retirement age in the year 2011, social security will deduct one dollar for every three dollars that you earn over $37,680 until the month you each the age of full retirement.
Earning Requirements Change
Remember to keep up with the earning requirements if you are receiving social security benefits as they can change from year to year. Some people are shocked to find out that their benefits were reduced because they earned too much money. That comes from not keeping up with the earning requirements from year to year. It is also important to remember that income earned for the year is what counts, not income that was paid to you.
Now you know what you can earn and still qualify to receive social security benefits. Remember to keep up with these requirements until you are of full retirement age.
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