Retirement income does not count towards Social Security benefits; plan wisely for maximum benefits.

From Yahoo Finance: 2024-06-20 16:00:20

Deciding when to take Social Security benefits is crucial in retirement planning, as working while claiming benefits could reduce the amount you receive. Benefits are calculated based on your earnings history, with retirement income not counting towards income for Social Security. When applying for benefits, Social Security uses your average indexed monthly earnings to determine your benefit amount. Working in retirement can reduce Social Security benefits based on age and earnings, but benefits are recalculated once you reach full retirement age. Coordinating retirement withdrawals and multiple streams of income can help maximize Social Security benefits without affecting eligibility.



Read more at Yahoo Finance: Does My Retirement Income Count as Income for Social Security?