Did you know that there may be instances where you are taxed on your Social Security benefits? Depending on what kind of retirement accounts you are drawing from there is a risk that your benefits could add to your total income increasing the amount you must pay in taxes. Here is some information to keep [...]
Social Security benefits are an important part of many people’s retirement finances. Because of this you want to be able to maximize the benefits that you are going to be receiving. Here are some tips that will help you maximize your benefits. […]
The spousal benefit can be a pretty confusing part of your Social Security benefits. For example, if you are a primary earner, but your low income earning spouse (who happens to be older than you) wishes to collect their spousal benefits based on your income they may not be able to. […]
Did you begin collecting your social security benefits sooner than you actually needed to? If you did this means that you could be affecting the amount of benefits that you are going to be receiving later in life. Fortunately there is something that you can do. It is called a Start Stop Start strategy that [...]
The idea of retirement appeals to all of us. Having time to do what you want, when you want an not having to worry about answering to a job or other commitments is a wonderful prospect. Choosing to retire early can have consequences that you are not thinking about. The Effect on your Spouse If [...]
Understanding how social security benefits work is important for any seniors who are considering retirement. Taking an early retirement and starting to collect social security early has consequences that many retirees are not aware of when they do it. The most costly can be the reduction of monthly payments made when early retirement is taken. [...]
The answer is yes, however, the income you earn from work could reduce your monthly benefit if you earn more than what is allowed by Social Security. The amount of the reduction depends on how much you earn and when you began collecting Social Security. If you work and started receiving Social Security at your [...]