Work or become a miner? in The Bonfire May 15, 2018 Bob_Church******" wait until I reach SS retirement age? " By the way, I'd always planned on starting my SS at 65 or 67, whatever the age of it going up was, but found that it was really ok to do it at 62. The money was almost as good, in fact I'd have to live so long to make up the difference that I think I'm coming out ahead. It doesn't hurt that it's sort of "extra money" for us but either way the numbers worked out for signing up as soon as possible. Just keep in mind that if you continue to work or otherwise generate income while collecting SS, (even after full retirement age) a significant percentage of your SS distribution will be added to your taxable income. Of course, it depends on the amount of your income. The more you make, the higher the percentage of your SS income that will be taxable. Yes, up to half, which is what they're doing to me. I don't work now, but pretty much all income counts, even other retirement programs, which is definitely something to keep in mind when the time approaches. Well, for this past year, the taxable portion of my SS was just over 76%. That portion was added directly to my taxable income. ...and I waited until full retirement age to begin collecting. Also, as you mentioned, if you begin taking benefits before full retirement age, your actual amount received will be reduced forever. If you work enough to cause some of that to be taxed, it's almost better to just wait until full retirement age. But, it's a gamble and you're playing the Government's game. If you start collecting early, you get less. But, if you kick the bucket early, you lose altogether. Odds are stacked against you. You'd think that you wouldn't get penalized for continuing work since you'd still be contributing to the alleged fund. But, they also are trying to induce you to stop working to open up a position for a younger worker.