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Social Security benefits were only designed to replace a portion of a retiree's pre-retirement income. It is important to recognize that these benefits are meant to serve as a foundation, rather than the sole source of financial support, during your retirement years.

Younger than Full Retirement Age

In the year you reach
Full Retirement Age

Older than Full Retirement Age

No Earning Test
 

No reduction in benefits

You can earn up to
$4,930 / $59,520 year

 

After this point, your benefits will be reduced by $1 for every $3 you earn over the limit

You can earn up to
$1,860 month / $22,320 year

 

After this point, your benefits will be reduced by $1 for every $2 you earn over the limit

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Financial 411, Robert Goldsmith, and Deanna Goldsmith are representatives of Financial Fitness & Insurance Servcies, LLC, a Nevada Corporation.  Robert has been a licensed insurance and financial professional since 1982 and is a member of the National Ethics Association and National Association of Professional Agents.  Deanna Goldsmith is also a member of the National Association of Professional agents and has earned her certificate as a National Social Security Advisor. Deanna Goldsmith has been a licensed insurance professional since 2003. Financial Fitness & Insurance Services, LLC, Robert Goldsmith, and Deanna Goldsmith do not provide legal or tax advice, any information perceived as legal or tax advice is purely consequential.  For legal or tax advice you should always consult a licensed tax advisor or attorney.

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