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I will be 65 in two months. I started taking my Social Security benefits last year. My income is greater than the limit before Social Security benefits are reduced. How will this affect my benefits?

Last Updated: February 03, 2012

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Until you reach full retirement age (age 66 for people born between 1943 and 1954), you are subject to the earnings limit, which is $14,640 in 2012. If your earnings exceed this amount, you will have $1 in benefits withheld for every $2 in earnings above the limit.

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I will be 65 in two months. I started taking my Social Security benefits last year. My income is greater than the limit before Social Security benefits are reduced. How will this affect my benefits?

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