Social Security earnings limits after 70 - confused about FRA vs age 70 rules

Your coworker is confusing you unnecessarily. Once you reach your Full Retirement Age (FRA), there is NO earnings limit. You can earn as much as you want without affecting your Social Security benefits. The $61,160 limit applies ONLY to people who are collecting Social Security before they reach their FRA. Since you're already past your FRA (66 and 4 months) and waiting until 70 to collect, you can earn any amount without penalty. In fact, you're doing exactly what financial planners often recommend - delaying benefits until 70 to maximize your monthly payment while continuing to work if you want to.

ur coworker is wrong! i started collecting ss when i hit my FRA (66) and kept working full time making way more than that limit. no problems at all with my benefits. dont worry about it

Yes, your coworker is mixing up two different scenarios. Let me clarify how the earnings test works: 1. BEFORE Full Retirement Age: If you claim benefits before reaching your FRA, the 2025 earnings limit is $22,320. For every $2 you earn above that limit, $1 is withheld from benefits. 2. YEAR OF reaching Full Retirement Age: In the months of 2025 BEFORE you reach your FRA, the higher limit of $61,160 applies. For every $3 you earn above that limit, $1 is withheld. 3. AFTER reaching Full Retirement Age: NO LIMITS APPLY. You can earn any amount without reduction in benefits. Since you've already passed your FRA and are waiting until 70, you're in category #3. You can earn $85,000, $185,000, or more - it doesn't matter. Your benefits will not be reduced.

MY SISTER GOT HER BENEFITS CUT BECAUSE OF THIS!!!! She was 64 and working and they took away almost half her Social Security!!! The system is DESIGNED to confuse people! They never make these rules clear until AFTER they take your money!!!

The real question nobody is asking - why are you waiting until 70? You've already missed out on years of benefits you could have been collecting since your FRA. The break-even point where delaying pays off is usually in your early 80s. If you don't live that long, you've left money on the table. I started collecting right at my FRA and invested a portion of each payment. Just something to think about...

I had SUCH trouble reaching anyone at Social Security to get answers about earnings limits! Spent literally 3 days trying to get through on their 800 number. Finally used Claimyr (claimyr.com) and got a callback from SSA in under an hour. They have a video demo showing how it works here: https://youtu.be/Z-BRbJw3puU The agent confirmed everything people are saying here - after FRA there's no limit to what you can earn. My situation was different since I'm not at FRA yet, but at least I finally got the correct information for my situation.

One more thing worth mentioning - even though there's no earnings limit after FRA, remember that up to 85% of your Social Security benefits may be subject to income tax depending on your combined income. This isn't the same as the earnings test (which won't apply to you), but it's something to be aware of for tax planning purposes if you'll be earning $85,000 plus Social Security.

just wondering why r u waiting till 70? i started at 67 and im happy i did. getting that money now to enjoy while im still active enough to travel

I just want to echo what everyone else has said - you're absolutely fine! I'm 72 and have been collecting Social Security since I turned 70 while continuing to work part-time. I earn about $60,000 a year and there's been zero impact on my benefits. Your coworker probably heard about the earnings limits that apply to people collecting benefits BEFORE their Full Retirement Age and got confused. The beauty of waiting until 70 like you're planning is that you get the maximum benefit amount AND complete freedom to earn whatever you want. It sounds like you've done your homework and made a smart financial decision. Don't let misinformation derail your well-thought-out plan!

Just to add another data point - I'm 71 and have been collecting Social Security since I turned 70 while working a consulting job that brings in around $90,000 annually. Zero issues with my benefits being reduced. The key distinction is that once you reach your Full Retirement Age, the earnings test completely disappears. Your coworker is likely thinking of the rules that apply to people who claim benefits early (before their FRA). Those folks do face earnings limits, but that's not your situation at all. You've already passed your FRA and are waiting until 70 to maximize your benefit - you're in the clear to earn as much as you want without any penalty to your Social Security payments. The Social Security Administration's website has a clear section on this if you want official confirmation, but everyone here is giving you the correct information. Stick with your plan!

I'm a newcomer here but wanted to share my perspective as someone who just went through this exact situation! I turned 70 last month and started collecting Social Security while continuing to work part-time earning about $45,000 annually. Like you, I was initially confused by all the different rules and limits I kept hearing about. What I learned (and what everyone here is correctly telling you) is that there are essentially three different phases when it comes to earnings limits: 1. Before your FRA: Strict earnings limits apply with benefit reductions 2. The year you reach FRA: Higher earnings limit applies only until the month you reach FRA 3. After FRA: NO LIMITS WHATSOEVER Since you're already past your FRA and waiting until 70, you're in phase 3. I've been collecting for two months now while working and earning, and my benefits haven't been touched. The peace of mind is incredible after years of worrying about these rules! Your strategy of delaying until 70 while continuing to work is exactly what I did, and it's working out perfectly. Don't let workplace confusion derail a solid retirement plan - you've got this!

As a newcomer to this community, I wanted to add my voice to reassure you that everyone here is absolutely correct! I'm 73 and have been in your exact situation. I delayed my Social Security until 70 and continued working - currently earning about $75,000 annually from my part-time consulting work. The confusion your coworker created is unfortunately very common. Many people mix up the rules that apply to early claimers (before FRA) with the rules for those who've reached or passed their Full Retirement Age. Once you're past FRA, the earnings test is completely eliminated - it's that simple. I've been collecting my maximized Social Security benefits for over 3 years now while earning substantial income, and there has never been any reduction or issue with my benefits. The Social Security Administration doesn't even ask about my earnings anymore since I'm past FRA. Your plan to start at 70 while continuing to work part-time is financially sound. You'll get the maximum possible monthly benefit PLUS unlimited earning potential. Don't let workplace misinformation shake your confidence in what sounds like a well-researched retirement strategy. You're making all the right moves!

As a newcomer to this community, I wanted to share some additional clarity that might help others who find themselves in similar confusion. I work as a benefits coordinator and see this misunderstanding frequently - people often conflate the earnings test rules that apply to different age groups. The key point everyone has correctly made is that the Annual Retirement Earnings Test has THREE distinct phases based on your age and FRA status, not just one universal rule. Your coworker likely heard about the $61,160 limit which applies specifically to people in the calendar year they reach FRA (and only for months BEFORE reaching FRA in that year). Since you're already 69 and past your FRA of 66 and 4 months, you're in the "no earnings limit" category. This means when you start collecting at 70, you could theoretically earn $200,000 annually and your Social Security benefits would remain completely untouched. What you're doing - delaying until 70 for maximum benefits while maintaining earning capacity - is actually the optimal strategy for many people in good health with family longevity. Don't let workplace confusion derail a sound financial plan. The Social Security Administration's official website clearly states this rule if you want written confirmation for your peace of mind!

As a newcomer to this community, I wanted to add my reassurance based on my recent experience! I just turned 71 last fall and have been in your exact situation. I delayed my Social Security benefits until age 70 while continuing to work full-time, earning about $95,000 annually. I had the same worry you're experiencing when a friend mentioned earnings limits, but I can confirm that everyone here is absolutely correct - once you've reached your Full Retirement Age, there are NO earnings limits whatsoever. I've been collecting my maximized Social Security benefits for over a year now while maintaining my full income, and there has been zero impact on my monthly payments. The Social Security Administration makes this very clear on their official website: the Annual Retirement Earnings Test only applies to people who claim benefits BEFORE reaching their Full Retirement Age. Since you're already 69 and past your FRA of 66 and 4 months, you're completely in the clear. Your strategy of waiting until 70 while continuing to work is exactly what I did, and it's been fantastic. You'll get the maximum possible monthly benefit (with those delayed retirement credits) AND complete freedom to earn whatever you want. Don't let workplace misinformation shake your confidence in what sounds like a well-planned retirement strategy - you're making all the right moves!