One of the fundamental yet often overlooked aspects of personal finance is understanding and routinely reviewing the Social Security Statement. Given its relevance to retirement planning, disability coverage, and survivors’ benefits, here is a summary of the key components: Personal Information The first thing to verify on a Social Security Statement is the personal information. […]
Social Security Benefits
Things to know about social security benefits
The choices you make relating to your Social Security benefits have a huge bearing on your financial future. Although you qualify to begin receiving your Social Security benefits at 62 years of age, a longer waiting period until you turn 70 will help earn a larger monthly benefit. To estimate this, you can visit the […]
When are social security benefits taxable?
A portion of your social security benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half your Social Security benefits, exceeds specific limits. Your MAGI equals adjusted gross income (or the adjusted gross income of you and your spouse if married and filing jointly), including wages, interest, dividends, taxable […]
