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SSDI (Disability) and Taxation
Are “SSDI” (Social Security Disability Insurance) benefits taxable? Well, just as with regular Social Security benefits, they are if your combined household income from all sources is high enough. SSDI benefits are, essentially, early SS retirement benefits for those unable…
About Taxation of Social Security Benefits
You know what they say about the two things in life which are inevitable? Well, one of them is paying taxes, and many new retirees are surprised to find that their Social Security benefits are subject to income tax by…
Social Security Changes Are Inevitable. Will They Affect You?
Whenever politicians or Washington pundits talk about Social Security, they avoid the “elephant in the room” – that Social Security reform MUST happen soon or everyone’s benefits will be cut in less than a decade. We send our representatives to…
Calculating Your Social Security Retirement Benefit
Social Security is, arguably, the most important retirement program in the United States. More than 65 million workers and their dependents get benefits in retirement, and a majority say that Social Security is a “major” part of their retirement income.…
How Your Claim-Age Affects Your Social Security Payment
In the simplest terms, the monthly Social Security benefit you get will be largely determined by the age at which you claim relative to your full retirement age (FRA). It also, of course, depends on your lifetime earnings history, but…
Life Expectancy is Crucial for Deciding When to Claim Social Security
Do you know how long you will live? Well, no one can predict that with 100% accuracy, but a recent study found that about 60% of respondents had no idea even what average life expectancy is for those considering retirement.…
When Will Social Security Be Insolvent?
Each year, the Trustees of our national Social Security system do an in-depth analysis of the program and, in particular, it’s financial condition. And for many years (decades, in fact) the Trustees have warned Congress that Social Security’s Trust Fund…
Health care in retirement can come with a hefty price tag
Employee Benefit Research Institute found in their latest study compared health care costs in retirement between having a Medicare with a Medigap policy or a Medicare Advantage plan and found that you would pay more during the course of their…
The most effective tactics for protecting your identity
There have been 95,901 total reports of government imposter scams alone in 2022, according to the Federal Trade Commission (FTC). The Social Security Administration is the most impersonated federal government agency resulting in $46.37 million in total losses. Kurt Knutsson…
Be sure to do this before you start Social Security benefits
Deciding when to begin your Social Security benefits should not be made in a vacuum, especially if you are married. Different claiming strategies will maximize your combined income. Christy Bieber advises if you are thinking about filing for your Social…