The decisions you make about Social Security can have lasting implications, which is why it’s important to get your questions answered sooner rather than later. If you’re unsure about how to maximize your benefits, we’re here to help cut through the confusion.

This week on Retire Wiser with NBC Connecticut, Joel Johnson, CFP® addresses some of our viewers’ most common Social Security questions.

Can I Collect Social Security While Still Working?

Once you turn 62, you can begin collecting Social Security. However, until you reach full retirement age, a portion of your benefits may be reduced if your earnings exceed certain thresholds. For 2025, the annual earnings limit is $23,400. Depending on your financial situation, you may want to consider waiting to claim Social Security until your full retirement age, as your total benefit will remain intact, even if you’re still working.

Is Social Security Income Taxable?

You will likely have to pay taxes on your Social Security income, especially if you live in the Northeast and rely on other retirement income to cover higher costs. Social Security benefits are taxed based on your total combined income, which includes your adjusted gross income, nontaxable interest, and half of your Social Security benefits. As a result, anywhere from 50 to 85% of your benefits may be taxable. This is why consulting with a financial advisor to create a solid withdrawal strategy is key to minimizing your total tax burden.

Do I Qualify for Spousal Benefits?

Whether you’re married or divorced, you may qualify for spousal benefits as long as the marriage lasted at least 10 years. You can claim up to 50% of your spouse’s or ex-spouse’s full retirement age benefit if it provides a higher payout than your own. However, if you claim your spouse’s benefit before full retirement age, your payment will be permanently reduced – another important timing consideration.

Whether you’re navigating the timing of your benefits, planning for taxes, or considering spousal benefits, the choices you make about Social Security can have a significant impact on your retirement. By seeking professional guidance, you can make the most of your benefits and ensure a more secure financial future.