Financial planning professionals serving clients in their late 50s and early 60s are generally aware of the rules that spell out how working income can affect Social Security benefits.

For clients younger than their full retirement age, there is a limit to what they can earn before some or all benefits are withheld. This is true whether they are receiving Social Security retirement or survivor benefits. Once the FRA is reached, clients can make as much as they want without affecting their monthly Social Security check.

If an earnings penalty applies, Social Security will adjust the benefit formula at FRA