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NerdWallet: Questions about working in retirement: How it can affect your Social Security and other finances

This article is reprinted by permission from NerdWallet.

Many people plan to work at least part-time in retirement because they want the income, enjoy what they do, hope to keep active or need a sense of purpose — or some combination of those reasons. But working in retirement can come with some unexpected costs and hazards. Here are commonly asked questions that can help you plan for what’s ahead.

Can I collect Social Security at 62 and still work?

Yes, but collecting Social Security early probably isn’t the best option if you earn very much.

When you start Social Security before your full retirement age — which is currently 66 and rising to 67 for people born in 1960 and later — you will lose $1 of benefits for every $2 you earn over a certain amount ($17,640 in 2019).

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