Q:

How much money can you earn at age 70 while on Social Security?

A:

Quick Answer

Once an individual reaches full retirement age, currently age 67 as of February 2015, there is no limit or penalty on how much a person can earn, as stated by the Social Security Administration. However, there are income earning limits prior to full retirement age.

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Full Answer

Individuals may begin collecting early retirement benefits at age 62. As of 2015, for any year prior to full retirement age, the earnings limit is $15,720, according to the SSA. For every $2 earned after that, the benefit reduces by $1. In the year the person turns full retirement age, the earnings limit becomes $41,880, and for every $3 earned thereafter, benefits reduce by $1 until full retirement age is reached.

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