Working after retirement.

[moneysense]

Yes, you can continue to work after retirement, but you can only make up to $14,160 before you have to start paying the extra money you make back.

You have to be very careful that continuing to work after retirement does not put you into a higher tax bracket. This can happen by:

Working seniors can find themselves in a higher tax bracket in one of two ways -- by taking pension distributions on top of a regular salary or by taking Social Security benefits while they continue working, Siebert says.

Here is another fact you need to know:

Those who attain full retirement age in 2009 (but not until later in the year) have a much higher income threshold before benefits are withheld. According to the Social Security Administration Web site, these workers can earn $37,680 in 2009 ($3,140 per month) without penalty, after which $1 of Social Security will be subtracted for every $3 of extra income until the month they reach retirement age. Workers who don't collect Social Security until after the government-designated retirement age won't be subject to income restrictions at all, and "passive income" gained from sources such as investments or rental properties don't count in the formula either.

So, if you plan on retiring and still working, you need to read up on all the facts before making this decision.

[centsgirl]

I work with a man who does not make a lot but still gets his full social security benefits, he needs to just to make it in life.