Social Security payments can sometimes be a significant portion of a couple’s retirement income. If your spouse passes away unexpectedly, it can have a dramatic impact on your financial wellbeing in retirement. This is especially true if there was a big...
Making the right decision of when to turn on your social security benefit is critical. The wrong decision could cost you tens of thousands of dollars over the long run. So understanding what to do with your social security income is incredibly important because we all...
There is a little known loophole in the social security system for parents that are age 62 or older with children still in high school or younger. Since couples are having children later in life this situation is becoming more common and it could equal...
The top two questions that we receive from individuals approaching retirement are: What amount will I received from social security? When should I turn on my social security benefits? Are you eligible to receive benefits? As you work and pay taxes, you earn...
If your “combined income” exceeds specific annual limits, you may owe federal income taxes on up to 50% or 85% of your Social Security benefits. The limits for federal income tax purposes are listed in the chart below. The federal income thresholds are not...
The short answer is “Yes”. But you may not want to depending on when you plan to turn on your social security benefits and how much you plan to earn each year from working. Electing social security benefits AFTER your Normal Retirement Age For social...
