Extra income, investing Social Security

I’m still too young for Social Security – I’ll be 62 in early 2010.  Even then I hope not to have to draw benefits but I’m wondering if it actually might not make sense if the recession is still raging.

Consider this:  there’s no doubt that hard times affect my income.  On the one hand, I’m apt to get more work because people want to keep old junk working.  On the other hand, that work is harder and I’m getting older.

That’s why I’ve been working toward building passive income streams like my E-books (that’s also why I started my http“Working For Yourself” website).

But I was also thinking that taking early benefits could be smart.  Yes, it reduces future benefits and yes there will be tax consequences if I’m earning too much, but on the other hand it is extra income and if the stock market is still depressed, it could make sense to put all that extra into investments.

I’m not sure that’s a great idea, but it could be..  still mulling it around.

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