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For individuals born in 1960 or later, the official Social Security Full Retirement Age is 67, not 65. This crucial detail determines the earnings limits, making it vital for anyone asking **How much money are you allowed to make if you retire at 65?**.
Millions of Americans receive Social Security benefits each year, and a significant portion continue to work. Knowing what is the maximum income for a pensioner is crucial, as earning too much can lead to a temporary reduction in your monthly payments if you have not yet reached your full retirement age.
For those born in 1960 or later, retiring at age 65 means claiming Social Security two years before your Full Retirement Age of 67. This results in a permanent reduction in your monthly benefits, so it is crucial to understand **what is the penalty for retiring at 65?** before you decide.
