Liz Weston: Is it possible to halt Social Security payments if you exceed the earnings limit?
- Business (https://www.oregonlive.com/business/)
- Updated: Jan. 10, 2026, 7:11 a.m.
- Published: Jan. 10, 2026, 7:00 a.m.
Dear Liz: Can you choose to stop your Social Security payments if your income goes beyond the $23,000 threshold?
Answer: If you begin receiving Social Security benefits before reaching your full retirement age, you will be subject to what is known as the earnings test. This rule stipulates that for every $2 you earn above a designated limit—in 2026, this limit is set at $24,480—your benefits will be reduced by $1.
Once you reach your full retirement age, you have the option to suspend your Social Security payments. At this stage, the earnings test will no longer affect your benefits.
It’s important to note that the funds deducted due to the earnings test are not lost forever. The amounts withheld during this period will eventually be recalculated and added back into your benefits over time. However, the increase in your benefit amount that you would have received had you postponed applying until reaching full retirement age is what you miss out on.
Fortunately, there remains one more opportunity to enhance your benefits through delay. If you decide to suspend your benefits when you reach full retirement age, you can earn delayed retirement credits. These credits will increase your benefit check by 8% for each year you wait to claim your benefits, up until age 70. For many individuals, this potential 24% increase, along with any cost-of-living adjustments that accrue, makes it well worth the wait.
- Liz Weston: What exactly are share or deposit secured loans, and who provides them? (https://www.oregonlive.com/business/2026/01/liz-weston-what-are-share-or-deposit-secured-loans-and-who-offers-them.html)
- Liz Weston: Is it possible to establish a 529 account for a grandchild residing outside the country? (https://www.oregonlive.com/business/2026/01/liz-weston-can-i-set-up-a-529-account-for-a-grandchild-who-lives-abroad.html)
- Financial experts suggest focusing on actionable plans rather than mere resolutions for 2026 (https://www.oregonlive.com/business/2025/12/financial-experts-recommend-actionable-plans-over-resolutions-for-2026.html)
Liz Weston, a Certified Financial Planner, writes a personal finance column for NerdWallet. (https://www.nerdwallet.com/) Questions may be directed to her at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or through the "Contact" form available at asklizweston.com. (https://asklizweston.com/)
