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The COVID shutdown of 2020 pushed forward retirement plans for many Americans. However, amid the reopening of the economy, improving wages, and increased inflation, some recently retired individuals might be considering reentering the workforce. And so, current retirees who plan to return to work (and therefore might not need the additional income from Social Security) might wonder whether they can reverse their decision to claim Social Security.
This article dives into two strategies, withdrawal and suspension, that might help someone reverse that decision. This is, of course, to increase the ultimate benefits one receives by delaying their benefits. That extra benefit can be pretty significant.
Two ways to reverse a Social Security claiming decision
by Mary Beth Franklin
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