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Submitted By: Soledad
Answered: May 22, 2015 12:02 pm
Answered: May 22, 2015 12:02 pm
I’m 63 years old and collect Social Security benefits. How much can I earn in 2015 without any reduction in my benefits?
The earnings limit for those like you who have not yet reached the full retirement age is $1,310 per month, or $20 more per month than in 2014. If you exceed this limit, you’ll lose $1 of benefits for each $2 of benefits over the limit.
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Tax Glossary
Individual retirement account (IRA)
A retirement account to which up to $4,000 (or $5,000 if you are 50 or over) may be contributed for 2007, but deductions for the contribution are restricted if you are covered by a company retirement plan. Earnings accumulate tax free.
