Social Security benefits are meant to be paid out to beneficiaries once they have retired. However, one question remains, how long does one beneficiary work to collect the benefits?
Social Security benefits (Photo: Econlib)
How Long Should One Work to Collect Social Security Benefits?
According to Go Banking Rates, the social security benefits are meant to pay the beneficiaries once they have stopped working.
Workers can still continue to work as long as they want, and can still collect Social Security benefits. However, one should be aware that continuing to work while receiving Social Security benefits could reduce the amount that one receives. Especially, if the worker has not reached the full retirement age.
Social Security Work and Collect Benefits: What is Considered Income?
How can one really work and still collect Social Security benefits rather than receiving deferred payments? According to Yahoo News, if all the income you have is passive, you can earn as much as you’d like and won’t have to worry about any ramifications on your Social Security earnings.
Moreover, Social Security only counts wages or salary from a job and the net profit of self-employment as earnings. Incomes that came from investments, pensions, veteran benefits, and government benefits are not counted.
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