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Social Security: Income limits and what that means for your benefits

Millions of Americans decide to file for Social Security benefits each year, and with that comes a lot of decision making.

social security card with checks representing benefits

Your individual circumstances impact how and when you choose to claim benefits.

Some choose to receive Social Security at a younger age and get reduced benefits.


Be careful not to miss out on up to over $1,600 in spousal benefits

Others wait it out and collect larger monthly benefits because they delayed it.

Many will try to work when they collect Social Security, which is fine if you are aware of the income limits.

2022 income limits for Social Security

If you’ve already reached full retirement age, which is 66 or 67, there isn’t anything to worry about.


If you claim benefits before you reach FRA, income is something you need to keep in mind.

This is important if you’re still working while claiming benefits.

You can earn up to $19,560 in 2022 before it impacts your benefits.

Once you pass that amount, one dollar of your benefits will be withheld for every two dollars you earn.


What happens to the money the Social Security Administration takes?

You will eventually get that money back.

If you choose to claim early though, your overall benefits are lowered.

What you decide to do ultimately depends on your own circumstances.

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