Retirement planning is a delicate process, and you need to carefully consider your various income streams, including Social Security benefits. For those of us who plan to continue working while claiming Social Security, it’s important to understand how this decision can impact the monthly benefits you receive. 

In this episode, we’re sharing how to avoid financial shocks in retirement. We discuss the essentials of earned income, the reduction in benefits due to excess earnings, and specific scenarios such as spousal and ex-spouse benefits. 

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Outline of This Episode

• [1:08] Social Security benefits may be impacted if you work while claiming
• [04:27] How retirement financial planning strategies vary by individual circumstances
• [07:17] Earnings affect Social Security benefits before retirement
• [11:51] Your spouse's income doesn't affect your Social Security
• [15:18] SSA withholds payments until excess income is accounted for
• [18:44] Social Security timing advice
• [20:04] Seek financial advisor help to make an educated decision about retirement