Workers planning their retirement should consider talking to a Social Security representative in the year before the year they plan to retire. Because rules are complicated, and because it may be advantageous to start receiving benefits before actually stopping working, it is wise for workers to consult with Social Security as part of their retirement decision-making processes.
An individual should apply for benefits 3 months before the date he or she wants the benefits to start if he or she:
- Is not working,
- Has annual earnings that are below the earnings limits, or
- Plans to start collecting Social Security upon turning 62.
The lesson "How Work Affects Benefits" presents more information on earnings limits.
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