Will My Social Security Benefits Be Reduced?

Claiming Social Security benefits can be one of the more complicated topics to understand. There are a multitude of rules that can have a significant and lasting impact on your future income stream and overall financial picture.

To help make this analysis easier, check out our flowchart, “Will My Social Security Benefits Be Reduced?” It is based on the Social Security Administration’s retirement benefits information, and addresses common issues including:

  • How to determine Full Retirement Age (FRA)
  • Effects of marriage and divorce
  • Implications of collecting benefits before, at, or after FRA
  • Annual limits
  • Impact of continuing to work while claiming benefits
  • How benefits will be taxed

You may be referred to additional flowcharts, which can be found here:

Am I Eligible for Social Security Benefits as a Surviving Spouse?

Am I Eligible for Social Security Benefits as a Spouse?

Am I Eligible for Social Security Benefits if I Have Been Divorced?


Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Searcy Financial Services, Inc.

The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.

Published for the blog on August 19, 2022 by Searcy Financial Services, your Overland Park, Kansas Fee-Only Financial Planner and Investment Manager.


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