Don’t Stop Working
For an increasing number of older Americans, retiring from one career doesn’t necessarily mean leaving the workforce. Some might also choose to stay with their current employers even after they begin collecting Social Security benefits.
In either case, Silverberg advises older clients who still earn a paycheck to hold off on claiming Social Security at least until they turn 66. Before that age — the current full retirement age under Social Security Administration rules for most considering retirement — you will be penalized if you earn more than $17,040 in 2018.
“So, Social Security will withhold $1 of benefits for every $2 earned above that amount if you claim before your 66th birthday,” Silverberg said.
