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US Retirement Planner

If you are near retirement age you can still work while you are collecting Social Security retirement benefits. If and when you do, it could mean higher benefits in your future.

Every year the Social Security administration will review the records of every person who is collect Social Security benefits. If their earnings from the prior year is higher than one of the years they used to compute retirement benefits, they will recalculate your benefit amount. They will pay the increase retroactive to January of the year you earned money.

When a person reaches full retirement age, beginning in the month they reached full retirement age, his or her earnings no longer reduce their benefits, no matter how much they earn. Social Security will recalculate benefit amounts and will leave out the months when they withheld or reduced benefits because of excess earnings.

One Response to “US Retirement Planner”

  1. Ingvar says:

    I think any income after retirement is good income. Regardless of tax implications, there might not be any.