Many retirees mistakenly believe that collecting Social Security prohibits them from working. In fact, working can enhance their income, as Social Security typically covers only about 40% of pre-retirement wages. This can be particularly beneficial for those with limited savings. Moreover, employment offers social interaction, combats boredom, and promotes mental health in retirement. Knowing the rules regarding income limits before reaching full retirement age is essential for retirees considering work, as they can continue earning while receiving benefits.
It's a big misconception that once you start collecting Social Security, you're automatically not allowed to earn any money from a job.
Even if you have plenty of money, working can be a positive thing in retirement. It can serve as a social outlet and give you a reason to leave the house.
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