Q & A
If I wanted to make a withdrawal from my IRA, would that affect my Social Security? Would that be considered income that could affect my social security, i.e., reducing my monthly Social Security?
Answer: IRA withdrawals do not reduce Social Security benefit amounts or cause benefits to be withheld as might be the case if you received wages prior to your FRA. However, taxable IRA withdrawals do increase income which may affect how much of your Social Security payments are taxable.
Source: Dan Moisand, www.moisandfitzgerald.com, via www.marketwatch.com – 8-10-2015
Notice: The links provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.
With a married couple, if the primary delays claim of benefits to his/her 70 birthday, will the spouse (secondary) be eligible for up to 50% of this larger delayed benefit amount?
Thanks,
Rick Sander