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Working and Taking Your Social Security Benefits - The Motley Fool
If you work and collect Social Security benefits before reaching your full retirement age (FRA), your future benefit amount will be affected. John Rosenfeld wrote an article for The Motley Fool stating that, according to research from the Center for Retirement Research, about 40% of Social Security recipients will work while drawing benefits before their FRA.
You can take your Social Security benefits as early as age 62; however, if you choose this option, you reduce your benefit amount by 30%. An earnings limit also applies. In 2026, that limit is $24,480 per year. If your earnings exceed the limit, Social Security withholds $1 for every $2 you earn above it. If you keep working, up to 85% of your Social Security benefits will likely be taxable when you file your taxes. If Social Security withholds payments because you exceed the earnings limit, once you reach your FRA, they will recalculate your benefit amount as if you had delayed claiming benefits by the number of months payments were withheld.
Additionally, the year you reach your retirement age, the 2026 earnings limit is $65,160, up to the month you reach your FRA, at which point it ends. To read the full article written by John Rosenfeld, click here ….
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