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11 Myths About Social Security Finally Debunked

October 14, 2019 · Saving & Spending

‘If you keep working, you’ll lose benefits.’

Alright so there are instances in which this is true, but it’s not so for everyone. You should look out for this only if you’re planning on retiring early. Look at your income to determine whether or not you’re going to lose money. 

If it tops $17,640, you’ll lose $1 for every $2 you make over that figure. When you reach full retirement age, you’ll lose $1 for every $3 that you make over $46,920, 

Also, when you reach full retirement age your payments will see an adjustment so that you’ll gain back what you lost. 

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