Social Security provides income post-retirement, based on your earnings and the age you start receiving payments. Discover how Social Security works, factors influencing payment amounts, including taxation, and the role of your full retirement age. These benefits are available to American workers who’ve accumulated 40 work credits (about 10 years of work). Commencing payments at age 62 results in reduced benefits, while waiting until full retirement age ensures the full benefit amount.
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Summary
Article Name
Understanding Retirement: A Guide to Social Security
Description
Social Security provides income post-retirement, based on your earnings and the age you start receiving payments.
Author
Susan Jane
Publisher Name
Investopedia
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