5. Monitor Your Earnings

If you continue to work after starting to receive Social Security checks, keep track of your earnings to make sure they don’t exceed the allowed limit. For 2022, the maximum earned income was $19,560 for individuals below full retirement age (FRA) and $51,960 for the year they reach full retirement age. For 2023, those figures increase to $21,240 for recipients below the FRA and $56,520 in the year when they reach it.

If you make more money and your earnings exceed these limits, you’ll have your Social Security checks reduced. However, once you reach your FRA, there’s no penalty for earned income.