Give Us A Call or Text Now!
Hablamos Español
(908) 534-1985


Social Security and Retirement: Helpful Tips

Posted by Anthony Serra | Feb 16, 2023 | 0 Comments

Saving for Retirement

As some of us begin moving into our 60s (boy did that come quick!), the issue of retirement and where Social Security retirement benefits fits into that equation becomes a reality. When should I start collecting Social Security? Should I wait until a reach full retirement age? Can I still work if I am collecting Social Security? If so, how much can I earn before my Social Security benefits are impacted?

Here are few tips that may help navigate you through what can be a tricky maze.

When can you start to collect Social Security?

You can start receiving your Social Security retirement benefits as early as age 62. However, if you begin this early, you will get less in terms of monthly benefits than if you wait until full retirement age.

When are you entitled to full benefits?

For people born in 1955 and later, full retirement age is 67. However, if you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.

Can you collect Social Security at 62 and still work full time?

Yes, you can get Social Security retirement benefits and work at the same time before your full retirement age (67 for people born in 1955 and later). However, your benefits will be reduced if you earn more than the yearly earnings limits. The annual earnings limit for this year (2023) is $21,240. So, if you earn more than $21,240 a year, your Social Security retirement benefits will start to be reduced. There is a formula used by Social Security to calculate the reduction in benefits that is explained in the attachment. 

At what age can you earn unlimited income without affecting Social Security?

Starting with the month you reach full retirement age (67 for people born in 1955 and later), you can receive your benefits with no limit on your earnings.

Social Security Pamphlet


About the Author

Anthony Serra

Tony Serra is a passionate advocate, especially for the elderly, disabled and those of modest means who need the services of an experienced and caring attorney. For more than 30 years, Tony has been helping common, everyday folks navigate their way through life's turbulent waters. Through innovation and utilizing modern technology, Tony and his law firm are now able to offer quality legal services that at one time were prohibitively expensive, at a fraction of the cost. If you need basic legal services, such as a Will, Power of Attorney, Living Will, Special Needs Trust, real estate transactions, uncontested guardianship pleadings and much more, please visit our website and our SMART LAW legal services platform. You will be pleasantly surprised by what we offer and glad you did! Tony is also an experienced mediator and founder of the Conflict Resolution Center of NJ. Tony has specific training in family matters as well as elder law and contested guardianship and estate cases.  


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Your Trusted Legal Advisers

We are caring - and take a personal interest in your case. With many years of experience behind us, let us guide you through the ups and downs and twists and turns of life’s journey - now and whenever you need us. We are just a phone call or “click” away.

Give our Smart Law platform a try.