I am grabbing my S.S. at 62, I file in 2 months for auto deposit to kick in in November...let me ask all of you Freepers here? Have you ever done a trade/job that is always in demand yet you can get paid in cash or personal check? I have been doing these exact types of work since I was 18. I also worked on the books for what would reap me the best benefits. I will collect less than the maximum from S.S. but I am not worried in the least about earning going into my twilight years...there are multitudes of things you can do to generate cash without reporting it.
I started mine at 62.
Running the numbers, you get the same amount of benefits (total) that you get later up to 80 (and change).
Since my decent-paying career pretty much died in the 2008 crash, it was my best option.
Should I be able to resume at good salary levels, then I would stop the benefit. You can turn it off for a period as well. Just be aware of where you are, income-wise.
And I agree with others, your Social Security payout should not be taxable income.
AND they should RAISE how much regular income (earned income) you can make before full retirement age.
That would keep more skilled workers in the workforce.
I have news for you. If you work they are going to to tax all of the SS payments away from you.
^ Check out this guy who thinks we won’t have a highly regulated CBDC in 5-10 years.
I had my first heart attack at 44 so when I reached 62 I decided I better get it while I could but Stents came along and I am now 84 so I am sure I got more than my share, almost makes me want to give some of it back. Almost but not quite.