retirement

Recouping Social Security Benefits

If you haven't yet reached full retirement age and have returned to the workforce, expect for your benefits to be reduced.

Question: I started taking Social Security at 62, but my benefits were reduced two years later when I started working again. Do I ever get those benefits back? - K.M., Atlanta

Yes. Your monthly benefits will be increased in the month you reach full retirement age to account for the forfeited benefits. If you earn more than $17,640 in 2019, Social Security temporarily withholds $1 in benefits for every $2 in earnings above that limit. After you reach your full retirement age (age 66 for people born in 1943 through 1954), you can earn an unlimited amount without affecting your Social Security benefits.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
The 12 Best Tech Stocks to Buy for 2022
tech stocks

The 12 Best Tech Stocks to Buy for 2022

The best tech-sector picks for the year to come include plays on some of the most exciting emergent technologies, as well as several old-guard mega-ca…
January 3, 2022
How to Know When You Can Retire
retirement

How to Know When You Can Retire

You’ve scrimped and saved, but are you really ready to retire? Here are some helpful calculations that could help you decide whether you can actually …
January 5, 2022

Recommended

Why Your New Social Security Check May Be Less Than You Thought
social security

Why Your New Social Security Check May Be Less Than You Thought

Watch out, because these three supposed “rules” about Social Security benefits may not actually apply to you.
January 13, 2022
Taxes in Retirement: How All 50 States Tax Retirees
Tax Breaks

Taxes in Retirement: How All 50 States Tax Retirees

We rated every state, plus the District of Columbia, on how retirees are taxed. Some of the results might surprise you.
January 11, 2022
How to Know When You Can Retire
retirement

How to Know When You Can Retire

You’ve scrimped and saved, but are you really ready to retire? Here are some helpful calculations that could help you decide whether you can actually …
January 5, 2022
Santa's End-of-the-Year Finance Tips 2021
Brandon Copeland

Santa's End-of-the-Year Finance Tips 2021

Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.
December 23, 2021