Careful! You Can Lose Some (Or All) of Your Benefits
While it’s true that your Social Security retirement benefits from your own lifetime work record will never expire, you should exercise caution in certain areas of your life to make sure you don’t lose some, or even all, of those “guaranteed” Social Security benefits. For example, if you’re collecting benefits before you have reached your full retirement age (FRA), you’re subject to an annual limit on how much you can earn from working. If that limit is exceeded, Social Security will take back some of your benefits. And taking too much out of your tax-advantaged retirement accounts might affect taxation of your Social Security benefits (and could also increase the size of your Medicare premium which could lower your SS benefit). These, and other actions you might unwittingly take may result in you getting less Social Security than you usually get, which could put a big dent in your monthly cash flow. This Motley Fool article by Christy Bieber explains.