Originally Posted by Wiley Coyote
Originally Posted by JA
The real answer is when you plan on retiring from work. If you take it at 62, you will have a permanent reduction in the benefit and you also take a hit for how much you are still earning at your job. My wife just reached full retirement age but she’s still working so she’s gets her first SS check next month with no penalties.

Incorrect info here and it's a common OLD tale that got started somewhere WAY back. .........As long as you continue working you are still paying into the SS fund. Your account is checked annually for additional payments into your account. You DO NOT set a permanent benefit amount at this point. You may actually get a benefit increase from one year to the next based on those payments into your account. When you do actually retire, the additional earnings will be added and a new calculation is made for your benefit amount.

Read it here... https://www.ssa.gov/faqs/en/questions/KA-01921.html#:~:text=You%20can%20get%20Social%20Security,matter%20how%20much%20you%20earn.

Can’t get the link to work but the way I read it straight from SSA.gov is: If you take your benefits at 62 and continue to work, your income limit is $24,480. Your benefits are reduced by $1 for every $2 you exceed that limit. So for example, if you make $64,480 in 2026, your benefit would be reduced by $20,000. This occurs every year until you reach your FRA when your benefit is re-evaluated. Also, if you take your benefit at age 62, your benefits are permanently reduced by about 30% from what they would have been if you waited until your FRA.