I'm 62 in december 2009.. how much can I earn in 2010 with a penalty?
Wendy's reply: From age 62 to "full retirement age" (age 65-66), you can earn $14,150 in 2010 (same as 2009).
If you earn more, Social Security will deduct $1 for each $2 you earned above $14,160... but you still earn more, so why not? Plus your Social Security increases every year since you earned more! It's a win-win!