How Much Can I Earn While On Social Security

The amount of money you can make while receiving Social Security benefits depends on various factors, including your age and the type of Social Security benefit you're receiving. I'll provide a general overview, but please keep in mind that Social Security rules and regulations may change over time, so it's always a good idea to consult with the Social Security Administration (SSA) or a financial advisor for the most up-to-date information.

1. 1. Retirement Benefits: If you have reached your full retirement age (FRA), you can earn as much as you want without any reduction in your Social Security benefits. FRA ranges between 66 and 67, depending on your birth year.
   If you decide to claim retirement benefits before reaching your FRA, there is an earnings limit imposed by the SSA. In 2023, the earnings limit is $18,960 per year. If you earn more than this limit, $1 of your Social Security benefits will be withheld for every $2 you earn above the limit.
   In the year you reach your FRA, a different earnings limit applies. In 2023, the limit is $50,520, and $1 of benefits will be withheld for every $3 you earn above the limit. However, once you reach your FRA, you can earn any amount without any reduction in benefits.

2. Disability Benefits: If you're receiving Social Security Disability Insurance (SSDI) benefits, there is a different earnings limit. In 2023, the limit is $1,310 per month (or $2,190 for blind individuals). If your monthly earnings exceed this limit, it may be considered substantial gainful activity (SGA), and it could affect your eligibility for SSDI benefits.
   It's important to note that there is a trial work period that allows you to test your ability to work without losing your full SSDI benefits. During the trial work period, you can earn any amount without it counting towards the SGA limit.

3. Supplemental Security Income (SSI): SSI is a need-based program for individuals with limited income and resources. The amount of SSI benefit you receive is affected by any income you have. The rules for SSI are complex and take into account various factors, including other benefits and living arrangements. The maximum federal benefit rate for an individual in 2023 is $794 per month, but the actual amount you receive can be lower depending on your income.

It's worth noting that these are general guidelines, and your specific circumstances may affect the amount you can earn while on Social Security benefits. Contacting the SSA or a financial advisor would be the best way to get accurate and personalized information based on your situation.