{"id":996,"date":"2020-03-02T00:38:00","date_gmt":"2020-03-02T00:38:00","guid":{"rendered":"https:\/\/www.simplywise.com\/blog-2023\/?p=996"},"modified":"2023-06-22T22:07:28","modified_gmt":"2023-06-22T22:07:28","slug":"working-at-62-and-ss","status":"publish","type":"post","link":"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/","title":{"rendered":"Guide to Working and Collecting Social Security at 62"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"996\" class=\"elementor elementor-996\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b753b63 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b753b63\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-979d7de\" data-id=\"979d7de\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-921b039 elementor-widget elementor-widget-text-editor\" data-id=\"921b039\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>For many people, especially those on a tight budget, the idea of applying for\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/social-security-retirement-benefits\/\">Social Security earned benefits<\/a>\u00a0or\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-spousal-benefits\/\">spousal benefits<\/a>\u00a0as early as age 62 can be very exciting. Being able to count on an extra $1,000 or more in income each month can make a huge difference in their financial lives. While it\u2019s true you can apply for Social Security benefits as early as 62, it\u2019s a good idea to sit down with a calculator\u2014or even a financial planning expert\u2014to look at all the factors. Frequently, the economic benefits of holding off on receiving those benefits are well worth the wait.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd81279 elementor-widget elementor-widget-template\" data-id=\"bd81279\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/elementor\/css\/custom-pro-widget-call-to-action.min.css?ver=1764022918\">\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdf5cfa elementor-widget elementor-widget-text-editor\" data-id=\"cdf5cfa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>How your Social Security benefit is calculated<\/h2><p>To qualify for Social Security earned benefits, you must have earned 40 credits during your working life. A credit is equal to a certain amount of earnings\u2014in 2020<a href=\"https:\/\/www.ssa.gov\/pubs\/EN-05-10072.pdf\">\u00a0one credit is equal to $1,410 in earnings<\/a>. You can earn up to four credits per year. So if you earn up to $5,640 a year for 10 years, you are eligible to receive SS benefits. Over the years, the amount you must earn to receive a credit has increased as wages have increased. Prior to 1978, for example, you\u00a0had to earn $400 a year\u00a0to qualify for four work credits.<\/p><p>Earning 40 credits means you\u2019re eligible for SS retirement benefits, but that does not determine the amount you are eligible to receive. That amount is based on your lifetime earnings. The Social Security Administration adjusts or \u201cindexes\u201d your actual earnings to account for changes in average wages since the year the earnings were received. Your average indexed monthly earnings (AIME) during the 35 years in which you earned the most are then calculated, and a formula is applied to these earnings, arriving at your basic benefit, or \u201cprimary insurance amount\u201d or PIA. This is how much you would receive at your\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/what-is-full-retirement-age-for-social-security\/\" target=\"_blank\" rel=\"noopener\">Full Retirement Age \u2014 65 or older, depending on your date of birth<\/a>.\u00a0\u00a0<\/p><p>In 2020, that formula is:<\/p><ul><li>90 percent of the first $960 of your AIME;<\/li><li>plus 32 percent of any amount over $960 up to $5,785;<\/li><li>plus 15 percent of any amount over $5,785.<\/li><\/ul><div>\u00a0<\/div><p>Keep in mind that this formula only counts the amount you earned up to the maximum taxable earnings. In 2020, that amount is $137,700. Also, take note that these figures provide\u00a0 the amount you should receive at\u00a0<i>full\u00a0<\/i>retirement.\u00a0For those born after 1960,\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/what-is-full-retirement-age-for-social-security\/\" target=\"_blank\" rel=\"noopener\">Full Retirement Age<\/a>\u00a0is 67. For those born between 1954 and 1960,\u00a0Full Retirement Age\u00a0is 66 and some months, depending on your birthday.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b842d5d elementor-widget elementor-widget-image\" data-id=\"b842d5d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"526\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-full-retirament-age-from-1943-5-1024x841.jpeg\" class=\"attachment-large size-large wp-image-999\" alt=\"what is my full retirement age\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-full-retirament-age-from-1943-5-1024x841.jpeg 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-full-retirament-age-from-1943-5-300x246.jpeg 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-full-retirament-age-from-1943-5-768x631.jpeg 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-full-retirament-age-from-1943-5.jpeg 1466w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39d0e50 elementor-widget elementor-widget-text-editor\" data-id=\"39d0e50\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.simplywise.com\/blog\/social-security-benefits-by-age\/\">Age has a large impact on Social Security benefits<\/a>.\u00a0At full retirement you receive 100 percent of your PIA. But if you opt to take your benefits earlier than that, the amount will be less. For example, filing at age 62 reduces the amount you would receive<a href=\"https:\/\/www.ssa.gov\/planners\/retire\/agereduction.html\">\u00a0by about 30 percent.<\/a>\u00a0The closer you are to\u00a0Full Retirement Age\u00a0when you file for benefits, the smaller the reduction in your benefits. But if you can wait until\u00a0<i>after\u00a0<\/i>Full Retirement Age, up to age 70, the amount of your benefit continues to increase.\u00a0<\/p><p>Because of delayed retirement credits, which add 8 percent per year between\u00a0Full Retirement Age and age 70, you could actually bring in 124 percent of your PIA. This is very important because, for many people, the amount they receive when they file for benefits will be frozen at that level for the rest of their lives. If you file at age 62, you\u2019ll receive about 30 percent less in each check for the rest of your life than you would have received if you filed at\u00a0Full Retirement Age. For example, let\u2019s say your PIA is $1,500 per month, which is about average. That means you would bring in $18,000 per year at full retirement. But if you file at 62, you would lose about 30 percent, so only receive about $12,000 a year from then on.<\/p><p>For someone born in 1960 with a PIA of $2,500, their benefit depending on claiming age would look as follows:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53f041d elementor-widget elementor-widget-image\" data-id=\"53f041d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"657\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-Benefits-Depending-on-Claiming-Age-1960-2-998x1024.jpeg\" class=\"attachment-large size-large wp-image-1000\" alt=\"when should i apply for social security\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-Benefits-Depending-on-Claiming-Age-1960-2-998x1024.jpeg 998w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-Benefits-Depending-on-Claiming-Age-1960-2-292x300.jpeg 292w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-Benefits-Depending-on-Claiming-Age-1960-2-768x788.jpeg 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/Simplywise-Benefits-Depending-on-Claiming-Age-1960-2.jpeg 1008w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ffe405 elementor-widget elementor-widget-text-editor\" data-id=\"3ffe405\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>Working and receiving benefits<\/h2><p>The question of when to\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/work-and-collect-ss-withholding\/\">file for retirement benefits becomes more complicated if you plan to continue working<\/a>. When you work and receive benefits before\u00a0Full Retirement Age,\u00a0you may only earn up to a certain amount before Social Security begins to reduce your benefit.\u00a0In 2020 you may earn up to $18,240\u00a0before any benefits are deducted. But $1 is deducted for every $2 you earn above that earnings limit. So, if you earn $50,000, which is $31,760 above the limit, up to $15,880 will be deducted from your Social Security benefit. The good news is that once you reach\u00a0Full Retirement Age,\u00a0Social Security will add that money back onto your benefit. But your benefit amount may still be frozen at 70 percent of PIA and your chance to wait until age 70 when you would receive 124 percent of PIA is lost. In that case, you would have been much better off to wait to apply for benefits.<\/p><p>Another factor that makes a difference in when you should file for benefits is your potential earnings. While many people used to retire in their 60s, these days many people work into their 70s. Since Social Security gauges your benefit on your top 35 earning years, if you file for benefits at age 62 they will base your benefit on previous earning years. But the years after age 62 may be the highest earnings years of your life. Fortunately, Social Security will<a href=\"https:\/\/www.ssa.gov\/planners\/retire\/whileworking.html\">\u00a0recalculate your benefit based on those earnings<\/a>\u00a0retroactive to January of the year you earned the money. Still your chance to file at age 70 is lost.<\/p><p>Once you reach\u00a0Full Retirement Age,\u00a0you may earn as much as you like and SS will not reduce your benefits. However, you\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/taxes-and-social-security\/\">may still be taxed on your earnings<\/a>.<\/p><p>If you file a federal tax return as an \u201cindividual\u201d and your total income\u00a0is between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits. Or if your income is above<\/p><p>$34,000, up to 85 percent of your benefits may be taxable.<\/p><p>If you file a joint return, and you and your spouse have a combined income between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits. Or if It\u2019s above $44,000, up to 85 percent of your benefits may be taxable. Combined income means:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25c11ce elementor-widget elementor-widget-image\" data-id=\"25c11ce\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"262\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-1024x419.png\" class=\"attachment-large size-large wp-image-1001\" alt=\"is social security taxed\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-1024x419.png 1024w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-300x123.png 300w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-768x314.png 768w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-1536x628.png 1536w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/ss-tax-2-1-2048x838.png 2048w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4810bb0 elementor-widget elementor-widget-text-editor\" data-id=\"4810bb0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your adjusted gross income + nontaxable interest + 1\/2 of your Social Security benefit<\/p><h2>Factoring in life expectancy<\/h2><p>Of course, all of these decisions are impacted by\u00a0how long you will live. If you need the money to live, and do not expect to live much past age 70, it may be unwise to wait to take benefits.<\/p><p>Let\u2019s say you that your life expectancy is 82 and your expected PIA at full retirement is $1,500 a month.<\/p><p>If you wait until your\u00a0Full Retirement Age\u00a0of 67 to take your benefit, you would receive $18,000 a year, totaling $270,000.<\/p><p>If you opt for early retirement at age 62, you would receive $12,000 a year for 20 years, totaling $240,000.<\/p><p>However, if you wait until age 70 when you will receive 124 percent of your PIA or $22,320 a year, you\u2019ll wind up receiving $267,840 over 12 years. By waiting, you end up receiving almost the same amount of money you would at\u00a0Full Retirement Age,\u00a0but you\u2019d also maximize your earnings by continuing to work. So, your standard of living overall may be greatly enhanced.<\/p><h2>Takeaways<\/h2><p>The rules around working and collecting Social Security are vital for many Americans. With over one in three Americans taking Social Security at 62 and\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/death-of-retirement\/\">seniors working at historic levels<\/a>, understanding the effects are as important as ever. Additionally, you can use an online\u00a0<a href=\"https:\/\/www.simplywise.com\/socialsecurity\">Social Security benefits calculator<\/a>\u00a0to help do the math on your own situation.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5cc589 elementor-widget elementor-widget-template\" data-id=\"b5cc589\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>For many people, especially those on a tight budget, the idea of applying for&nbsp;Social Security earned benefits&nbsp;or&nbsp;spousal benefits&nbsp;as early as age 62 can be very exciting. Being able to count on an extra $1,000 or more in income each month can make a huge difference in their financial lives. While it\u2019s true you can apply [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Guide to Working and Collecting Social Security at 62 - SimplyWise Cost Estimator<\/title>\n<meta name=\"description\" content=\"Thinking of collecting your Social Security at 62 and continuing to work? You&#039;re not alone, but it&#039;s important that you know the rules. We have you covered...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guide to Working and Collecting Social Security at 62 - SimplyWise Cost Estimator\" \/>\n<meta property=\"og:description\" content=\"Thinking of collecting your Social Security at 62 and continuing to work? You&#039;re not alone, but it&#039;s important that you know the rules. We have you covered...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\" \/>\n<meta property=\"og:site_name\" content=\"SimplyWise Cost Estimator\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-02T00:38:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-22T22:07:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2023\/06\/shutterstock_520964194.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allie Fleder\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Allie Fleder\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\"},\"author\":{\"name\":\"Allie Fleder\",\"@id\":\"https:\/\/www.simplywise.com\/blog\/#\/schema\/person\/e1e876d7736d540f0047b6adc84e2ba1\"},\"headline\":\"Guide to Working and Collecting Social Security at 62\",\"datePublished\":\"2020-03-02T00:38:00+00:00\",\"dateModified\":\"2023-06-22T22:07:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\"},\"wordCount\":1309,\"publisher\":{\"@id\":\"https:\/\/www.simplywise.com\/blog\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\",\"url\":\"https:\/\/www.simplywise.com\/blog\/working-at-62-and-ss\/\",\"name\":\"Guide to Working and Collecting Social Security at 62 - SimplyWise Cost Estimator\",\"isPartOf\":{\"@id\":\"https:\/\/www.simplywise.com\/blog\/#website\"},\"datePublished\":\"2020-03-02T00:38:00+00:00\",\"dateModified\":\"2023-06-22T22:07:28+00:00\",\"description\":\"Thinking of collecting your Social Security at 62 and continuing to work? 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