You began saving early for retirement and project you will have enough money to live comfortably when you reach retirement age. But, will a combination of Social Security benefits, savings, investments and pension plans (if you have one) be enough? When the time comes, you may need to supplement your income by continuing to work, in addition to, collecting Social Security benefits.

How much can you earn while receiving Social Security retirement benefits?

According to the Social Security Administration, the amount you can earn while receiving Social Security benefits depends on your age. Your earnings in (and after) the month you reach full retirement age will not affect your Social Security benefits. However, your benefit is reduced if your earnings exceed certain limits for the months before you reach full retirement age.

If you are under full retirement age for the entire year:

You can earn $16,920 gross wages or net self-employment a year and not lose any benefits in 2017.
Social Security Administration will deduct $1 in benefits for every $2 earned above $16,920.

In the year you reach full retirement age:

You can earn $48,880 gross wages or net self-employment prior to the month you reach full retirement age and not lose any benefits in 2017.
Social Security Administration will deduct $1 in benefits for every $3 earned above $44,880.

The same earnings limits apply to a spouse or child who works and receives benefits on your record. You should report earnings to Social Security Administration for any months and years prior to full retirement age.

Check the Social Security website at ssa.gov for more information.