Retirement tax questions


@rawilley wrote:

It's not "free" money.  Anyway, I just learned that I CAN collect unemployment along with SS as long as I go through the normal process.  Sorry I wasn't clear, but I would still be looking for other work.


In that case, yes.  I was thinking "Retire" in the common sense of not going to work any more.  If you are meaning retire in the sense of "apply for my social security benefit", then yes you can apply for your benefit and still work or look for work.

 

However, if you apply for your social security benefit before your full retirement age (which will be age 66 or 67, depending on your birth date), and you continue to work, your retirement benefit will be reduced $1 for every $3 you earn.  If you apply for your benefit, and then get a job, you can "suspend" your benefit, which will give you increased credits the longer you work.