5 Myths About Social Security That Need To Be Busted Already
Huff PostBackyardProduction via Getty Images The traditional age of retirement used to be 65, but that needle has inched higher to 67. The earliest a person can start receiving reduced Social Security retirement benefits is at age 62. But if you are younger than full retirement age for the entire calendar year and exceed the yearly earnings limit, which for 2018 is $17,040 ― Social Security will reduce your retirement benefit by $1 for every $2 you earn above that limit. Once you reach full retirement age, you can earn as much as you want and it won’t impact your benefits. If you become disabled or retire, your qualified child ― whether biological, adopted or a dependent stepchild ― is eligible for up to 50 percent of your full retirement age benefit.
History of this topic
Liz Weston: ‘Bridge’ your way to Social Security
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You might have to work forever: The honest reality about Social Security and retirement
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Planning For Retirement When Savings Fall Short
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