At retirement age, you may need extra income. You may also find the life of an idle retiree doesn’t suit you. Retirement can be as dynamic as any other time of life.
If you do take on new earnings in retirement, you need to be aware of the effect that working during retirement has on your Social Security benefits.
If you are under normal retirement age but receiving Social Security, an annual earnings limit is set by the Social Security Administration on earnings you can receive in addition to benefits.
Once you reach your normal retirement age, you may take on any amount of additional earnings without affecting Social Security retirement benefits.
Earnings Limit - the Pros and Cons of Extra Earnings
Should you always keep your earnings in retirement below the Social Security limits? Not necessarily. While there will be withholdings on your higher earnings, your income overall may improve to a level that benefits your financial situation.
If you have a job opportunity, it’s worth it to do the math.