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In 2020, for example, only your first $137,700 of income counts for Social Security purposes. In 2021, your first $142,800 will count. To be fair, these thresholds also limit the extent to which you pay Social Security taxes on your income, so at the end of the lowest price day, it evens out. 6. Working won't impact your benefits once you reach FRA You may have heard that if you work and collect Social Security at the same time, you'll risk having some of your benefits withheld if your income exceeds what's known as the earnings test limits . But the earnings test only applies if you haven't yet reached FRA. Once you hit FRA, you can earn as much money as you'd like and still collect your monthly benefit in full. 7. You can request retroactive benefits in a lump sum If you opt to delay benefits past FRA but then decide you need your Social Security income as quickly as possible, you're allowed to request a lump sum payment from the SSA in the form of retroactive benefits -- six months' worth, to be precise.

https://scnow.com/business/investment/personal-finance/7-surprising-social-security-rules-you-should-know-about/article_09c857c6-654a-5a8c-9f3c-47a259184fcf.html

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