Social Security has been part of retirement planning for generations, yet it’s still one of the most misunderstood pieces of the puzzle. For many people, questions around timing, taxes, spousal benefits, and working during retirement can feel overwhelming—especially when every situation is a little different.

That’s exactly why we recently partnered with AssetMark to host an educational webinar featuring Kurt Czarnowski, former Social Security Administration Regional Communications Director and retirement planning expert. During the conversation, we covered many of the questions people ask most often as they begin preparing for retirement.

Here are a few key takeaways from that discussion.

1. When Can You Start Collecting Social Security?

You can begin collecting Social Security retirement benefits as early as age 62. However, starting early typically means receiving a permanently reduced monthly benefit.

Your “full retirement age” (FRA) depends on the year you were born, but for many people today, it falls between ages 66 and 67. Waiting until full retirement age allows you to receive your full benefit amount.

If you delay benefits beyond full retirement age, your monthly benefit may continue increasing until age 70.

The important thing to remember is this: There is no universal “best” age to claim Social Security.

The right timing depends on factors like:

• Your health and life expectancy
• Your income needs
• Whether you’re still working
• Your spouse’s benefits
• Other retirement assets and income sources
• Your long-term retirement goals

For some people, taking benefits earlier makes sense. For others, delaying may create more flexibility and a guaranteed income later in retirement.

2. How Is Your Benefit Calculated?

Many people assume Social Security is based on their most recent salary or the amount they paid into the system during the last few years of work. In reality, the calculation is more detailed than that.

Your benefit is generally based on:

• Your highest 35 years of earnings
• Income that was subject to Social Security taxes
• Your age when you begin claiming benefits

If you worked fewer than 35 years, zeros are included in the calculation, which can lower your benefit amount.

This is one reason why retirement planning often involves looking at your full financial picture—not just Social Security alone.

3. Can You Work While Receiving Social Security?

Yes—but there are important rules to understand.

If you collect Social Security before reaching full retirement age and continue working, your benefits could be temporarily reduced if your earnings exceed certain annual limits.

Once you reach full retirement age, those earnings limits no longer apply.

This is an area where confusion is common. Some people mistakenly believe they cannot work at all while collecting benefits, while others are surprised when their payments are reduced because they exceeded income thresholds before full retirement age.

Understanding how work income and Social Security interact can help avoid surprises.

4. What About Spousal and Survivor Benefits? 

Spousal and survivor benefits are often overlooked, but they can play a major role in a retirement income strategy.

Depending on your situation, you may be eligible for:

• Spousal benefits based on your spouse’s work record
• Survivor benefits if a spouse passes away
• Divorced spouse benefits in certain cases

These rules can become complex quickly, especially for couples coordinating retirement timing or widowed individuals navigating major life changes.

That’s why it’s important to evaluate Social Security decisions in the context of your overall retirement and income plan—not in isolation.

5. How Do You Apply for Benefits?   

Applying for Social Security is more straightforward than many people expect. Most people can apply:

• Online
• By phone
• Or through a local Social Security office

Still, before filing, it’s important to understand how your decision could affect:

• Taxes
• Medicare premiums
• Spousal benefits
• Long-term retirement income
• Withdrawal strategies from investment accounts

In many cases, the filing decision itself is permanent or difficult to reverse, which is why thoughtful planning matters.

Social Security Is Just One Piece Of The Puzzle

While Social Security is an important source of retirement income for many Americans, it’s typically only one part of a broader financial picture.

The decisions surrounding when and how to claim benefits can impact:

• Your retirement cash flow
• Investment withdrawals
• Taxes
• Survivor income
• Long-term financial flexibility

That’s why we encourage people to think about Social Security not as a standalone decision, but as part of a coordinated retirement strategy.

At EmVision Capital Advisors, we believe thoughtful planning can help bring more clarity and confidence to retirement decisions—especially during periods of transition and uncertainty.

If you have questions about Social Security or how it fits into your overall retirement plan, our team is always happy to have a conversation.

Michael Embrescia is a financial advisor located at EmVision Capital Advisors, 251 W. Garfield Rd. ​Suite 155 Aurora, OH 44202. He offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. He can be reached at (330) 954-3770 or at info@emvisioncapital.com.

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Additional advisory services offered through EmVision Capital Advisors, LLC are separate and unrelated to Commonwealth. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network. Registration as an Investment Adviser does not imply any level of skill or training.