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116 items found for "social security"

  • Make the Most of Your Social Security

    When you work, some of your income (currently 6.2% of eligible wages) is withheld for Social Security When you retire, you’re eligible to get a Social Security benefit, which is a source of income based Social Security uses a formula to determine how much you’re eligible to receive when you reach your full Hard to believe, but delaying your Social Security benefits as long as possible is the best thing for Our Social Security program was created for and is funded by U.S. workers.

  • Smart Strategies for Social Security Benefits Taxes

    The issue of whether your Social Security benefits are taxed is based on your “provisional income.” This is your adjusted gross income—not counting Social Security benefits—plus nontaxable interest and half of your Social Security benefits. Kiplinger’s recent article, “5 Ways to Avoid Taxes on Your Social Security Benefits,” explains that if But don’t focus only on Social Security taxes—look at overall tax-efficiency.

  • Look out: Medicare Changes on the Way!

    The long-term outlook for Social Security old-age and disability benefits is still good, with promised Social Security annually weighs whether to give beneficiaries a cost-of-living adjustment based on inflation Among the 30% impacted next year are those who didn’t have their premiums deducted from Social Security Reference: AARP.org (June 22, 2016) “Social Security COLA Projected for 2017” #Insurance #Medicare #SocialSecurity

  • Retirees Help Us Learn from Mistakes

    Many retirees regret drawing Social Security at age 62 rather than waiting until they reached their full

  • Two Social Security Strategies are Put to Rest in 2016

    Security. Security not to pay you. You are able to apply for Social Security benefits as early as age 62, but waiting until FRA gives you Social Security generally won’t pay more than six months’ worth of benefits retroactively. Reference: Kiplinger (January 2016) “Some Social Security Loopholes Will Still Be Around in 2016” #FRA

  • Be Smart When You Say “I Do” the Second or Third Time

    In addition, it could impact your Social Security benefits.

  • The Three Top Fears in Retirement

    No. 3: Social Security’s dim outlook. The Social Security Administration says that 53% of married couples and 74% of unmarried Americans count on Social Security for at least half of their retirement income, and about half of unmarried persons rely on Social Security checks for at least 90% of their retirement income. Social Security’s difference between income and outgo isn’t expected to run dry until 2029.

  • Personal Finance Myths Debunked!

    Myth: Social Security Won’t Be Around When I Retire. Many people in the U.S. (55%) have this fear. The truth is Social Security isn’t going away. But remember that Social Security was designed as a supplemental retirement insurance program, not a

  • Planning for All Generations Starts Now

    Many older boomers have already made key retirement decisions about work and Social Security, and they As far as cash flow, current salary is the starting point, but include projected monthly Social Security Increased longevity is one reason that people wait until 70 to take Social Security. These distributions will also impact the taxes owed on Social Security payments.

  • Financial Regrets That Will Haunt You Forever

    Claiming Social Security early. full retirement age, right now at 66 and rising to 67 for those born after 1959, before tapping into Social Security.

  • Should Inflation Prompt You to Revisit Your Long-term Financial and Estate Plans?

    According to research done by the Senior Citizens League, Social Security benefits have lost more than This is in spite of yearly cost-of-living adjustments for Social Security benefits designed to combat

  • How to Transfer Your Home Without Jeopardizing Your Medicaid Eligibility

    transfer the property to a child under the age of 21 or a child who has been determined disabled by the Social Security Administration. This requires proof by your doctor or social worker that the care was essential.

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