Collecting S.S., then go back to work
My friend (I've discussed him in other threads) earns a high salary but is (again) concerned he may lose his job soon. He asked me, but I didn't know the answer:
He says he will need SS for the cashflow. If he does lose his job, and starts collecting SS retirement, and at some point lands another job, how does he deal with SS? Obviously he will earn too much, and quickly, to continue to collect SS.
But does he just let the government stop the benefits, and then just resume collecting SS when he finally retires? Or is there a benefit to formally asking for SS to stop, so he can earn a higher amount when he does fully retire?
He will be 64 in July. If he does manage to get another job, he thinks it'll take 6 months to a year. Hopefully I've phrased the question clearly. Any ideas?