6 Social Security traps to avoid
If you're looking forward to turning age 62 so you can begin collecting Social Security benefits and live on Easy Street, you might get caught off guard. Some of the Social Security rules can be frighteningly complex. Because it will likely represent a large portion of your retirement income, it's important to understand how the government program works.
For instance, there are limits on how much you can earn while collecting benefits, and if you exceed those limits, your Social Security benefits will get cut substantially. That's just 1 of the snares that could trip you up.
Make sure you plan appropriately to avoid these 6 Social Security traps.