Can I earn $62K while collecting Social Security a few months before my FRA of 66 and 10 months?
I'm turning 66 next month but my Full Retirement Age (FRA) isn't until 66 and 10 months. I'm getting antsy about starting my benefits a little early since I've been working and paying into the system for 44 years now! I know taking SS a few months before FRA means I'll get about $250 less per month permanently, which I can live with. My MAIN concern though is whether I can still earn up to $62,000 at my regular job if I start benefits early? I thought there was some kind of earnings test if you claim before full retirement age, but I'm not sure how it works when you're THIS close to FRA. Does anyone know if there's a different earnings limit when you're within a year of your full retirement age? I don't want to get hit with any surprise penalties or benefit reductions!
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Noah Lee
Yes, you're right to check about the earnings test! For 2025, if you're claiming in the calendar year you reach FRA but haven't hit your FRA yet, the earnings limit is much higher - $59,520. So you'd be a bit over with $62K. Social Security would withhold $1 in benefits for every $3 you earn above that threshold, but ONLY counting earnings before the month you reach FRA. After that month, no earnings limits apply. So you'd need to calculate exactly how much you'd earn between starting benefits and reaching your FRA (66+10mo). If most of that $62K comes after you hit FRA, you might be fine.
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Olivia Garcia
•Thanks! So if I understood right, they only count earnings in the months BEFORE I hit FRA? So if I turn 66 and 10 months in October 2025, they'd only count January-September earnings against that $59,520 limit? That would definitely put me under since my big year-end bonus comes in December.
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Ava Hernandez
The SSA is so CONFUSING with all these different rules!!!! I got caught by this last year and they took back a bunch of my money because I made too much. It's like they PUNISH you for working! Didn't even tell me until months later when they sent a letter saying I owed them. Such BS how they run this system that WE paid into our whole lives!!!!!
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Isabella Martin
•same here they never explain anything right. my brother got hit with this too but he said after he hit his real retirement age they recalculated and gave some back? not sure if thats still how it works tho
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Elijah Jackson
If you can wait just a few more months to reach your FRA, you wouldn't have to worry about the earnings test at all. Is there a specific reason you want to start benefits early? The permanent reduction is one thing, but dealing with the earnings test paperwork can be a real headache, especially if you're close to the threshold.
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Olivia Garcia
•That's a fair point. Honestly, I've just been waiting so long, and my wife already started her benefits last year. I guess I'm just tired of waiting when I've been paying in since I was 18. But maybe the extra hassle isn't worth it for just a few months of slightly reduced benefits.
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Sophia Miller
My husband went thru this. If u make over the limit they take back $1 for every $3 but the good part is they adjust ur benefit later to give u credit for the months they took money back. Most people don't realize that! So it's not all lost money.
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Mason Davis
•That's correct, and it's an important point many people miss. When SSA withholds benefits due to the earnings test, they recalculate your benefit amount when you reach FRA. Your monthly benefit permanently increases to account for those months when benefits were withheld. So you're essentially just deferring some benefits, not losing them completely.
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Mia Rodriguez
Have u tried calling SS to ask them directly? I spent 3 days trying to get thru to someone about my disability application and kept getting disconnected or waiting for hours!
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Noah Lee
•I had the same frustrating experience until I discovered Claimyr. It's a service that holds your place in line with Social Security and calls you when an agent is available. Saved me hours of waiting on hold. They have a video that shows how it works: https://youtu.be/Z-BRbJw3puU and their website is claimyr.com. Totally worth it for getting these kinds of specific questions answered directly by SSA staff.
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Mason Davis
One detail that's important to understand is that the earnings test looks at your actual earnings during the months before your Full Retirement Age, not your annual salary. So if you earn $62,000 annually but a significant portion comes after you reach your FRA month, that portion doesn't count toward the limit. For example, if you reach your FRA in October 2025: - Only earnings from January through September count toward the limit - If your earnings during those 9 months stay under $59,520, you won't face any benefit reduction - Any earnings from October through December are completely exempt Also, only wages from employment or net earnings from self-employment count. Investment income, pension payments, and government benefits don't count toward the earnings test.
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Olivia Garcia
•This is super helpful, thank you! The way my pay is structured, I get about 70% of my salary in regular paychecks and 30% in a year-end bonus. So if I reach FRA in October, and my bonus comes in December, I'd only have about $43,400 counting toward that $59,520 limit. Sounds like I might be fine taking benefits a few months early after all!
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Isabella Martin
i thought the limit was way lower like 19000 or something? thats what my neighbor told me when she started getting her checks
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Mason Davis
•Your neighbor might have been referring to the lower earnings limit that applies to people who start benefits before the year they reach FRA. For 2025, that lower limit is around $22,320, with $1 in benefits withheld for every $2 earned above that limit. But since the original poster is already in the year they reach their FRA, the much higher limit of $59,520 applies, with the more favorable $1 for $3 withholding rate. The Social Security rules create these different tiers to gradually reduce the penalty as you approach your full retirement age.
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Sophia Miller
My sister took her benefits 4 months early just like youre thinking about and she says the small reduction wasn't a big deal for her. But she was already retired so didn't have to worry about the earnings part. Just sharing her experience!
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Elijah Jackson
•That's the key difference - taking benefits a few months early has a relatively small permanent reduction (roughly 5/9 of 1% per month for the first 36 months before FRA), but the earnings test can temporarily reduce benefits much more significantly for people still working substantial hours. Each situation is uniquely dependent on individual circumstances and income timing.
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Olivia Garcia
Thanks everyone for the helpful advice! Based on all your comments, I think I'm going to go ahead with claiming a few months early since my bonus structure means I'll probably stay under that higher earnings limit before reaching FRA. And if I do exceed it slightly, at least I know they'll adjust my benefit later to account for any withheld amounts. Really appreciate all the detailed explanations - this stuff gets complicated fast!
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JaylinCharles
Just wanted to add one more thing to consider - make sure you understand how the earnings test works with your specific pay schedule. Since you mentioned getting a year-end bonus, you'll want to track your monthly earnings carefully through September (assuming October FRA). Also, if you do end up slightly over the limit, the SSA typically doesn't come after you immediately - they'll usually adjust your benefits the following year after you file your tax return and they can see your actual earnings. But it's always better to plan ahead than deal with overpayments later! Good luck with your decision - sounds like you've got a solid plan based on everyone's input here.
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Joy Olmedo
•Great point about tracking monthly earnings! I'm actually in a similar situation (turning 66 in a few months but FRA isn't until later) and hadn't thought about how the SSA handles the timing of when they check earnings vs. when they adjust benefits. Do you know if they send any kind of warning if you're approaching the limit, or do they just wait until after tax season to reconcile everything? I'd hate to get surprised with an overpayment notice!
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