Celebrating Your 62nd Birthday and Wondering About Social Security Benefits?

Did you know?  At the age of 62, you become eligible to start drawing Social Security retirement benefits. Now what?

Here's the scoop: if you choose to continue working while receiving Social Security benefits, it's important to note that your benefits may be reduced. The Social Security Administration has a nifty formula in place. For every $2 you earn above the annual limit, they will deduct $1 from your benefits. In 2023, the income limit stands at $21,240.1

While it’s understandable that there may be some trade-offs, this is still a great time to explore your options and choices, and I'm here to help you navigate this exciting phase of your financial journey. Feel free to reach out to me with any questions or concerns you may have.

Phone:  (804) 665-1589

E-mail:  kmurphy@capfs.com

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^{1. SSA.gov, 2023}