The Oblivious Investor offered a thoughtful and detailed post on the benefits and drawbacks of working during the early years of social security eligibility. Most people of the elderly ladies and gentlemen that I speak with on this issue have the opinion that social security could be gone tomorrow, and it's best to grab the regular annuity stream while you can. That's certainly not bad advice--although I believe that fears of social security's demise are generally overblown. Yes, our workforce is aging and the program will soon be paying out more in benefits than it receives, but social security would not be the first bankrupt federal program to continue indefinitely. There is one thing every politician knows about the elderly--the vote like it's nobody's business. They've got election day circled on their calendar, and nothing short of a tsunami is going to keep them at home. Nothing jeopardizes a politician's future like taking away benefits from the elderly. The most cowardly way for our elected officials to combat our staggering deficits would be to inflate our way out of it by revving up the printing press, and I believe that is exactly what they'll do.
But I digress. Here's a link to the Oblivious Investor article that discusses how you should go about balancing semi-retirement--that is, working while collecting social security benefits. Link here: http://www.obliviousinvestor.com/social-security-while-working-the-earnings-test/
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