As more Americans continue working past traditional retirement age, questions around Social Security timing have become increasingly important. In a recent NTD article, Michael Boggiano of Wealthcare offers clarity on how working while collecting Social Security can affect benefits.
Boggiano explains that retirees who claim Social Security before reaching full retirement age may see temporary benefit reductions if their earnings exceed the annual limit. However, these reductions are not permanent. Once full retirement age is reached, the Social Security Administration recalculates monthly payments to reflect the withheld amounts.
He also breaks down how the earnings limit adjusts in the year a retiree reaches full retirement age and why it’s important to weigh the short-term impact against long-term benefits. His guidance encourages retirees to evaluate their income sources carefully and consider the timing of their benefits based on personal goals and financial readiness.
