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Social Securityseems like a simple program.
You work, you pay your Social Security taxes and when you retire, you claim your benefit.
But theres a lot more that goes into Social Security than you might imagine.
For example, the longer you work and the more you earn, the higher your benefit can be.
Heres a look at how they all play a role.
This is critical to understand because it could literally make or break your retirement.
But if youre expecting $2,000, it could upend your entire retirement budget.
Taxation
Working while you take Social Security benefits can have an additional complication: taxation.
Others, like travel costs, may either go up or go down.
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