About Working After Claiming Social Security
In this Nasdaq.com article, contributor Maurie Backman discusses an increasingly common phenomenon – working after claiming Social Social Security benefits. No question that working after retirement is a great way to improve your economic status and prevent drawing down your retirement savings, but if you’re collecting early Social Security benefits (before your full retirement age) there an important thing to be aware of – there is an earnings limit which, if exceeded, will result in Social Security taking back some of your benefits. The article explains how the earnings limit works, but has a misleading statement which implies you’ll get back all of the withheld benefits when you reach full retirement age. What actually happens at your full retirement age is that you get time-credit for any months benefits were withheld,which will move your claim date forward and slightly increase your benefit amount. Nevertheless, the article is a great discussion of how so many Social Security recipients choose to work even after they claim Social Security. Click here to read more.