For each year before and after the full retirement age there is about a 8% difference. If your full retirement age is 67 then if you retire at 65 your monthly benefit is about 16% lower than if you waited until 67 to start collecting. Each year after you start collecting you receive the...
$24,480 is the limit before it impacts your social security. Only earned income (think wages and self employed schedule C stuff) counts against the limit. Items like pension, 401k, investment income (interest, cap gains and dividends) and rental income (unless considered self -employed do not...