Working While on Social Security? This 1 Rule Could Reduce Your Benefit by $368 per Month or More

Social Security can go a long way in retirement, but for many older adults, it's not enough to make ends meet. Whether your savings are falling short or you simply want to extend your career, working in retirement can be a smart way to maximize your income.However, if you're working while collecting benefits, there's a sneaky rule that could affect the size of your checks. This rule won't apply to everyone, but if it affects you, it could reduce your benefits by $368 per month or more. In more drastic cases, you could even have your entire benefit amount withheld.It's possible to continue working part-time or full-time after taking Social Security, but if you haven't yet reached your full retirement age (FRA), your income will affect your monthly payments. Your FRA will depend on your birth year, but it's age 67 for everyone born in 1960 or later.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool