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 - On the Road with Dave Gohl: Tractors and Farming - by Dave Gohl. I never thought I'd live to see the day, when I could call myself a farmer. What allows me to say this? Well, when our family moved to our 20 acre site near New Prague, Minnesota, I had one thought in mind. You guessed it, farm it somehow. A little history is in order. In my younger days, mom, dad and my brother made frequent visits to dad's youngest brother Pete, who took over the home farm from grandpa MIke. It was the typical set-up, milk cows, pigs & chickens. In the winter, we'd play
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