My question is this: I know that if you take Social Security before your full retirement age, you’ll lose $1 in benefits for every $2 over the earnings threshold. But does that include investment income or just wages?
But because you’re only 61, you would have to wait in any case. The earliest you can claim your own retirement benefits under regular circumstances is at age 62. And for anyone born after 1960, full retirement age is 67. Check out MarketWatch’s Retirement Hacks column for actionable pieces of advice for your own retirement savings journey.
To do this, take your wage earnings and subtract the limit. When you determine how much above the limit you are, divide that figure by two . That’s the amount by which your benefit would be temporarily reduced. If you know how much your Social Security benefit should be , you can subtract the amount that would be deducted from your expected annual benefit to see how much you’d actually get.