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If you begin drawing Social Security benefits before your full retirement age, there is a limit on what you can earn. Anything over this limit will result in a reduction of your Social Security payment. Read on to learn how the earnings limit works.
It is becoming much more common for people to work during their retirement. It’s important to be aware of the earnings limit so your hard work partially wasted!
The earnings limit is the amount you can earn while taking social security before your Full retirement age. If you earn over a certain threshold your benefit amount will be reduced. Once you hit your FRA, the limit is removed.
Yes, the earnings limit goes away once you hit your full retirement age!
Yes, but only if you take Social Security before your full retirement age. At your FRA there is no limit.
Make sure you’re aware of the Social Security earnings limit. Many retirees don’t realize that the income limit exists and are unpleasantly surprised to see their benefit reduced.
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