Photo credit: jb

For many folks, starting to receive Social Security as early as possible is important – even if they’re still actively working and earning a paycheck. The desire to start receiving that Social Security benefit as soon as possible is overwhelming.

Something happens when you do this though: depending on how much you’re earning, you may be giving up a portion, or even all, of the Social Security benefit that you would otherwise receive. Up to the year that you will reach Full Retirement Age, for every two dollars that you earn over the annual limit ($23,400 for 2025, or $1,950 per month), your Social Security benefit will be reduced by one dollar.

Then in the year you reach Full Retirement Age (FRA) there is a different income limit – actually $5,180 per month. For every three dollars over that limit, your Social Security benefit will be reduced

Keep reading this article on Financial Ducks In A Row.