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these are the three ways that you can lose out on social security benefits the first one is taking it early remember its a 30 reduction from fra full retirement age to age 62. but if you delay it its an 8 percent increase you optimize your social security decision when you take it based on your financial plan number two is taking social security early and still working and earning above the earnings test and then the third way is taxes how you fix that one is you have to understand first and foremost how social security is taxed and again you need an income an investment and a tax plan this is what we do at okarvis financial group for all of our clients if you work with us great if you work with your financial advisor or youre trying to do this yourself make sure you have those components especially the income and the tax plan