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

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.