Retirement should be a time to relax and enjoy the benefits you’ve earned, including Social Security. But for many seniors, the decision to continue working during retirement can impact those benefits. It’s important to understand the facts about collecting Social Security while working.
If you retire before full retirement age (typically between 66 and 67), there’s an annual income limit. Earning above that limit can temporarily reduce your benefits. However, once you reach full retirement age, you can work and earn as much as you want without any reduction in Social Security payments.
It’s essential to remember that Social Security should be fairly adjusted for inflation, allowing seniors to enjoy their retirement comfortably, no matter when they choose to stop working.
The choice to work longer should be exactly that — a choice, not something you’re forced to do due to financial constraints.
Will you choose to work while collecting Social Security? If so, reductions in benefits before full retirement age are not lost forever.
The Social Security Administration recalculates benefits once you reach full retirement age. You can get credit back for withheld amounts, leading to slightly higher payments later on.
In the end, whether to work during retirement should depend on your personal goals and lifestyle, not financial necessity. Social Security should provide you with the security and flexibility to enjoy your retirement on your terms.
Help The Seniors Center Protect the Future of Social Security
The Seniors Center is committed to finding solutions to strengthen and protect the Social Security Trust Fund. Social Security is a contract between citizens and the government. Money deposited in the Trust Fund should only be used to pay benefits to eligible recipients.
The Seniors Center is demanding Congress finally put a stop to the careless borrowing and spending by greedy politicians that has put our Trust Fund and our secure retirement in jeopardy.
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today! And follow The Seniors Center on Twitter and Facebook for more updates!
