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"If you start collecting Social Security between 62 and your "year of normal retirement" -- a benchmark set by the Social Security Administration that varies with your birth year -- watch your income. If your job pays you more than $11,280, you could lose a sizable chunk of your Social Security benefits. (One dollar for every $2 you bring in over $11,280.) Either keep your earnings below that threshold or defer Social Security until later in retirement, when you cut back on your earned income."

This information is outdated. There is not longer any penalty or "giveback" if you collect SS while you still have earned income.

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