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How NOT to lose Social Security benefits
How smart is it to purposely lose Social Security benefits? Well, of course, no one does so intentionally, but not understanding the nuances of the program could easily mean that you leave money on the table, or that you are unwittingly setting yourself up to lose some of the benefits you have been paid. As explained in this Motley Fool article by Selena Maranjian, claiming Social Security too early will mean a lower payment for life, and working while collecting early benefits could mean you also have to give some of them back. The article reveals that if your earnings from work exceed a particular level some benefits will be withheld, and if your total combined income is more than certain thresholds, the IRS will be digging even more deeply into your pocket. Click here to read more about the potential down side to claiming Social Security benefits too early.
Also, if you’re unsure about your individual situation under Social Security or have questions about your personal benefit entitlements, note that the AMAC Foundation provides an independent free-to-the-public Social Security Advisory service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.