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 - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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