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What are some common questions about retirement with Social Security?

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Quick Answer

Common questions about retirement with Social Security include whether a person can take Social Security and work at the same time, and how to use Social Security for help with retirement planning, according to the Social Security Administration. Other questions center around what constitutes full retirement age and when benefits begin.

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Full Answer

A person can work at the same time and get Social Security retirement benefits, says the Social Security Administration. If the person is younger than full retirement age and earns more than the yearly limit, the administration reduces the benefit depending on how much the earnings are above the yearly limit. If a person is of full retirement age, his benefits are not reduced. A person can use Social Security to help with retirement planning by starting with the government's online retirement planner. Users can calculate their retirement age, life expectancy and estimated benefits.

Retirement benefits can begin at age 62, but the government reduces the amount of benefits a person gets until he is at full retirement age, explains the Social Security Administration. A person qualifies for extra benefits, called delayed retirement credits, if he waits to draw the money until some time after he becomes eligible for full benefits. Full retirement age varies by a person's year of birth; the Social Security Administration website provides a chart with detailed information.

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