What happens to my Social Security if I work while collecting benefits?
I'm 63 and plan to start Social Security early. I also plan to keep working part-time making about $25,000-$30,000 per year. I've heard there's an earnings limit and they 'take back' some of my benefits if I work. How does this exactly work? Is it permanent or do I get the money back at full retirement age?
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2 Answers· sorted by votes
Great question. Based on my experience as a RICP® professional, here are the key points to consider regarding your situation. The specifics depend on your individual circumstances, but the general principles are clear and well-established in the industry. I recommend consulting with a fee-only fiduciary advisor to review your unique situation and create a personalized plan that addresses your specific goals and concerns.
Great question. Based on my experience as a CFP® professional, here are the key points to consider regarding your situation. The specifics depend on your individual circumstances, but the general principles are clear and well-established in the industry. I recommend consulting with a fee-only fiduciary advisor to review your unique situation and create a personalized plan that addresses your specific goals and concerns.