3.6: Social Security Income and Retirement
Social Security Income and Retirement
- Social Security income provides a source of income for retirees in the U.S. that is financed through a payroll tax.
- The amount of your Social Security check will depend in part on when you start taking payments.
- You can take Social Security payments as early as age 62, but if you delay taking payments the amount you are paid will be larger.
- Social Security benefits may be subject to taxation, especially if you are still working while also receiving benefits.
Many people rely on Social Security as part of their retirement income. Take a look at the official Social Security website to learn more about the average social security payment.
Source: Amy Bell. How Social Security Works After Retirement. Investopedia.com. 2023