Let $A$ be a square $n\times n$ matrix, and $\lambda$ be an eigenvalue of $A$. Then the nullspace or subspace $Ker(\lambda I-A)$ is different from $\{0\}$. And we can obtain an increasing sequence of subspaces $Ker(\lambda I-A)^k$ that is $$Ker(\lambda I-A)\subset Ker(\lambda I-A)^2 \subset\dots$$ Since the dimension of $\mathbb{R}^n$ is finite and equals $n$, then the increasing sequence of subspaces $Ker(\lambda I-A)^k$ will at some point be stationary at some integer $k$. Let $k_0\geq1$ be the smallest integer that verifies this property.
Since the geometric multiplicity $m_g=dimKer(\lambda I-A)$, then it is clear that $m_g\leq dimKer(\lambda I-A)^{k_0}$.
My question is: is there a relationship with such integer $k_0$ with the algebraic multipilicty $m_a$?
From your definition, $k_{0}$ is the degree of the factor $(x-\lambda)$ in the minimal polynomial of $A$, while $m_{a}$ is the degree of $(x-\lambda)$ in the characteristic polynomial of $A$. Thus we know that $k_{0}\leq m_{a}$. But it seems that $m_{g}$ has nothing to do with $k_{0}$ (That is, I don't think any of them is consistently no smaller than the other). Maybe you can try showing that $m_{g}+k_{0}\leq m_{a}+1$, if you'd like to (which I think is a pretty good exercise).