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Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work experiences that differ from what comprised a long career. No matter what drives a retiree to stay in, or re-enter, the workplace after beginning to draw Social Security benefits, it’s important to weigh the upside against the downside so that unpleasant surprises can be avoided. The “surprises,” of course, include the Social Security earnings test beneficiaries must face, as well as the potential for additional unplanned tax obligations and implications related to other retirement financial strategies that accompany the additional earnings. For more on this subject, check out a Yahoo!Finance post by Jacob Wade, which you can access 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.