Cate9
Employee Tax Expert

Retirement tax questions

As mentioned, this can be best addressed by consulting a financial planner.  However, here is a link that may address your quesitions. https://www.ssa.gov/OACT/quickcalc/early_late.html

 

Basically, for each year that you continue to work until age 70, your base social security benefit will increase.  If you, however, begin taking social security before the age of retirement, your benefits will be reduced. Since you have reached retirement age, you don't have to worry about the benefits being reduced.  If you use the calculator in the above link, you can see how your benefits could be effected by delaying your retirement.  I hope this helps. 

 

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