My Smart Retirement

Last week we discussed Social Security earning limits. Whether you want to work a few hours a week or continue with your current career it's important to understand how this impacts your Social Security. You've been paying into this program. You want to make sure you have a strategic Social Security plan. After our discussion last week, we had some listener questions come in. So we are going to answer some of these "Yes...but..." questions and clear some things up about the nuances of Social Security.  "What if I work in the year I reach full retirement age?"  The full retirement age is 66 or 67, depending on the year you were born. If you are younger than your full retirement age the earnings limit is $18,960 a year. If you are at full retirement age your earnings limit is $50,520. Now, if you are working leading up to your 66th or 67th birthday the lower earnings limit only applies to the months before your birthday.  "What if my spouse retires and I continue working?"  A lot of people decide to do this. Th