Can I Work and Collect Social Security in 2021

With such a large percentage of Americans struggling to save for retirement, it’s clear that many of these individuals will need to work far past the full retirement age. And quite possibly in some capacity for the rest of their lives.

What is Social Security?

Signed into law in 1935 as part of the New Deal, the original purpose of Social Security was as a retirement plan for workers aged 65 or older. The program allowed individuals to have continuing income after retirement, and for many, to have a retirement.

How Does Social Security Work?

Social Security is one of the more confusing areas of personal finance for people, and it can be challenging to determine how to handle the decision of claiming your benefits.

At What Age Can You Take Social Security?

Social Security benefits will come in the form of income for retirement. For those not on disability, you can begin drawing Social Security benefits at age 62 at the earliest (age 60 if a widow or widower).

How are Benefits Calculated?

Social Security calculates benefits using two factors:  1) The amount you earned during your working career, and  2) The age you begin taking benefits.

Can I Work and Collect Social Security?

The simple answer is yes, but the complex answer is yes with a caveat. While it is possible to work and collect Social Security, the amount you can earn and the impact on your benefits depends on several factors.

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