If you’re under full retirement age and receiving social security benefits, the annual earnings limit is $18,960 in 2021. Is there any certain amount per month that you can`t make or is the$18,960 amount based on a 12 month period.. For example: You work and earn 18,500 in 4 months(4625 per month) and then work and earn no more in 2021. You would be 460 dollars below the earnings limit for the year and it would not reduce your monthly check........ That is how I interpret the information I am reading on the world wide web.

I am returning to work tomorrow and will contact a professional this week with the correct info. I was just wondering if anyone might have a little information on the matter today. Thanks

I would like to know the answer to your question also. Let us know when you find out.

I retired at 56 and started drawing my social security at 62. I needed it more then than I do now. Found this.

"What Income Is Included in Your Social Security Record? ... Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes. You may need to pay income tax, but you do not pay Social Security taxes."

Nonsense...........

With me....Retired in 2015. Work some on a self employed basis.

Retired in july. That year's limit was prorated on monthly basis.
The following year was annual.
Birthday is in June. That year limit was lifted for last half of year, but prorated monthly for first half.

A point to consider, when work, you still have SS or self employment taxes. Buy you get no credit for either.

Explain nonsense. The maximin now is close to $4,000 per month less Medicare payments. My RMD is now more than that and I still get my reduced social security. I can't take it with me when I expire.

They look at your previous year income amount and ask if you are going to make the same this year, if not how much? They look at each calendar year, so the only time it's pro rated so to speak is the months in the calendar year before you turn FRA age; the limit increases to over double what your allowed until you reach FRA.

If you are over the threshold $20,000 they would take $10,000(50%) overage and apply it to your payments to start the year until they add up to $10,000 and from that point you would receive payments for the remaining months left in that calendar year.

Just an FYI
Not sure of income threshold, but if your total income excceds that amount, 85% of your SS will be subject to income tax only.
I haven't see much reduction in total income tax bill.

The way I understand, I can make as much as I want and it doesn't effect my ss I am currently recieving.I guess at my age they don't care.

As to the 85% being taxable, if you file jointly with your spouse what she earns will be included in your total income towards how you are taxed. My wife draws teacher retirement. Her income makes my SS payments taxable and on top of that she can never draw any of my SS since she gets teacher retirement so they penalize us on both sides. Seems the US Government really hates working people and retirees.

they do but they like your money.

This came from the Social Security website. I understand it to say that I can earn $18,960 for the 2021- 12 month calendar year. It does not matter how much you make per month as long as you do not earn more than $18,960 from your job in 2021. I`m still gonna consult with a professional next week.

https://faq.ssa.gov/en-US/Topic/article/KA-01921
You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefit. Starting with the month you reach full retirement age, we will not reduce your benefits no matter how much you earn.

We use the following earnings limits to reduce your benefits: If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit.
For 2021 that limit is $18,960.

In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit, but we only count earnings before the month you reach your full retirement age.
If you will reach full retirement age in 2021, the limit on your earnings for the months before full retirement age is $50,520.

Starting with the month you reach full retirement age, you can get your benefits with no limit on your earnings.

It's a simple way to change a perceived benefit into a true tax.

It was supposed to be temporary. Thanks FDR and his Commie right hand man.

The existence of the IRS is proof enough that the US Government hates working people.

You ask RedRanger!!!!!!! He is the expert in this area.

Be careful, this will bite you.

I solved the problem. I called my old employer and turned down the job offer. I gave 47 years to 2 different employers and that was enough. The only good reason I can think of for getting up at 4 a.m. anymore is to go fishing or hunting..........and that`s what I plan on doing.

I like to fish.

Drew my SS at 62 years old. Didn't need it then and don't need it now but gonna draw every dime I can after paying a fortune in over the years to the blood suckers. Take years to recoup what you don't draw at 62 if you wait until full retirement money.. I don't know if tomorrow will be there as the years add up. Think Most don't work after drawing SS. Give those greedy Feds more money.

How many years Glen?

If you are in good health this is terrible advice for most retirees......

As a matter of fact Glen, it will take you more years to get back what you paid in because your payment is 25% less than those that wait until their FRA age.

It worked for me.

Winning! Always winning! Sheez.

It all comes out in the wash. I'm taking mine the day after I turn 62. Been breaking my back for 47 years. I'm getting some of it back. There's no guaranty of tomorrow.

Who really knows if they are in good health. Healthy people die every day. A financial advisor can do the basic math and tell you at what age you would maximize you benefits, but he can`t tell you how long you are going to live. I have watched many You Tube videos, and read lots of stuff about the best age to start receiving social security. I think it is a personal choice/decision that changes every year as we reach early retirement or full retirement age. I do know that you cannot leave your social security to your estate. It doesn`t make any sense to retire early and live off of you pensions, IRA`s and 401K `s till you turn 66-70 years old so you can get a bigger monthly social security payment. If you died at 70 and had spent all of your savings to get a bigger check, you might not have anything to live your heirs and never received a social security benefit.