This is called the earnings test. My Social Security for Dummies book lists the earnings limit at $14,640 (2012) after which your SS benefit is reduced $1 for every $2 you are over the limit. The limit typically goes up every year so for 2014 it should be a little higher. Best to call social security or make a appointment and go into your local office - I have done both and they have always been very helpful.
Now here is the thing - you never lose any SS benefits. After you stop working, they will recompute your benefit to insure you get the same total payout. I did not take SS until I was 65 (could have started at 62) however I will not lose any SS money. My monthly benefit is higher because I am closer to my expected death. If I would have waited until I was 66 or 70 the monthly payments would be still higher since they have to pay out my total benefit in a fewer number of payments before I am expected to kick off. If you are working and they withhold SS money - they have to make it up when you stop working.
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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