Can I Work and Collect Social Security Retirement?

You can work and collect Social Security retirement at the same time. Before you reach full retirement age, however, the Social Security Administration (SSA) may reduce your monthly benefit amount depending on how much you earn. After you reach full retirement age, you can earn any amount without affecting the amount of your Social Security benefits.

What's My Full Retirement Age? 

Your retirement age depends on your birth year. If you were born in 1960 or later, your full retirement age is 67. If you were born before 1960, check this chart to determine your full retirement age:

• 1959: 66 years and 10 months
• 1958: 66 years and 8 months
• 1957: 66 years and 6 months
• 1956: 66 years and 4 months
• 1955: 66 years and 2 months
• 1943 to 1954: 66 years

You can start collecting Social Security at age 62, but if you keep working, your benefits will be reduced based on your earnings until you reach full retirement age.

How Much Can I Earn Without Reducing My Social Security Benefits?

The SSA allows you to make $51,960 in 2022 without reducing your monthly benefits. If you earn more than the limit, your benefits will be one-third less each month until either the year ends or you reach full retirement age. However, the SSA adds the reduced amount to your benefit payments over time once you reach full retirement age.

You must let the SSA know if you make more than the annual earnings limit. If you don't, you'll be charged for the amount that should have been reduced plus penalties when you file your tax return for the year. 

You also have to pay taxes on your Social Security benefits if you also earn money before reaching full retirement age. The SSA taxes a certain amount of your monthly payments based on your total earnings, whether you file your taxes as single or married and other financial factors.