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What is the maximum you can earn in 2011 if you draw Social Security at 64 years of age?

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Earnings limits for 2011 are unchanged from 2010.

The earnings limit for 2011 for people below full retirement age (65 for people born before 1943; 66 for those born between 1943 and 1954) is $14,160.

If you retire at age 64, you can earn any amount before retirement without incurring a penalty; however, once you retire, you can only earn $1,180 per month. If you earn more than the income limit, SSA will deduct $1.00 for every extra $2.00 earned.

Your benefit check will be withheld beginning in January of the following year until the overage is completely offset. This can result in no Social Security income for a number of months, depending on how far you went over the limit.

In the year you reach full retirement age (66), you can earn $37,680 annually, but for every $3.00 over the limit, $1.00 is withheld from your benefits until the month your reach full retirement age.

The income cap is lifted completely and permanently the month you reach full retirement age.
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