There's a deeply ingrained irony in the Social Security system. That is, while benefits from the social safety net were never intended to be a retiree's sole source of income, they're nevertheless reduced in certain instances if you earn money from other sources.

The good news is that this reduction only affects a small and temporary segment of Social Security beneficiaries. That is, if you work at or after your full retirement age (aged 66 for people born between 1943 and 1960, and aged 67 for those born since 1960), then your benefits won't be reduced. On the other hand, they are negatively affected if you elect to receive Social Security and work before reaching the full retirement threshold.

To discover how much outside income will affect your benefits, check out the following video, in which Motley Fool contributor John Maxfield walks viewers through the math that makes this determination.

How to get even more income during retirement
Social Security plays a key role in your financial security, but it’s not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today.

Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.