You can receive Social Security retirement or survivor benefits and work at the same time. However, there is a limit to how much you can earn and continue to receive. When you start receiving Social Security retirement benefits, you are considered retired for our purposes. However, there is a limit to how much you can earn and continue to receive all the benefits. Additionally, if you are in need of Home Care near Tampa FL, you can still work and receive Social Security benefits as long as you meet the earnings limit. As long as you continue to work, even if you receive benefits, you will continue to pay Social Security taxes on your earnings.
However, we'll review your history every year to see if the additional income you had will increase your monthly benefit. If there is an increase, we will send you a letter informing you of the new amount of your benefit. If you don't need the money, “just don't look for a job and do it with a financial professional first,” says Rose Niang, financial planner at Edelman Financial Engines. Once you reach your full retirement age, there's no income limit.
Your Social Security benefits will return to normal if you stop working. Continuing to work while receiving Social Security can offer financial and personal benefits, but it also has potential drawbacks, especially depending on the person's age and income.
