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What happens when you exceed Social Security’s “earnings limit”?
Working while you’re collecting Social Security can have consequences if you haven’t yet reached your full retirement age and you earn enough to exceed Social Security’s annual “earnings limit”. If that happens, Social Security will reduce your benefits by an…
When to take Social Security at age 62
The fact is, 62 is the most popular age to file for Social Security benefits, but many who do so file simply because it’s there. A far better approach to deciding when to file for your Social Security benefit is to…
If you’re working, there’s no avoiding the FICA tax
Though it comes as a surprise to many people, if you work and you’re collecting Social Security you must continue to pay FICA taxes. And to add to the misunderstanding, many people feel that because they’re continuing to contribute to…
Appealing a Social Security disability denial could take years
There are now nearly a million Social Security disability appeal cases awaiting action and, although the case backlog has recently been declining, the average wait time for a hearing is about 600 days. That’s a painfully long time if you’re…
Divorce to get higher Social Security benefit?
In a new twist on strategy, a writer opines that she and her husband may be entitled to higher Social Security benefits if they were to legally divorce, even if they continued to cohabitate. Although there is a lot of…
Reviewing 2018 Social Security and Medicare changes
Though we’re well into the year, now might be a good time to review the changes that were made to both Social Security and Medicare for 2018, if only as a reminder of what could also change next year. Certain Social…
April is National Social Security Month
The Social Security Administration has declared April as National Social Security Month”, and that means they are focused on bringing you information about the array of services available to you through this government Agency so critical to your retirement well being.…
Scam artists still after your Social Security
Although this article deals with “phishing” attempts in Orlando, Florida, the message is nevertheless national because it reveals that scam artists will stop at nothing to try to separate you from the Social Security benefits you so heavily rely upon.…
Is age 66 your best age to claim benefits?
In a nutshell, your Social Security benefit amount is based upon your “primary insurance amount” (computed from your 35 highest-earning work years), your “full retirement age” (which is based upon your year of birth), and the age at which you…
What to know before claiming Social Security
Here’s a fact you should know: For about 90% of American seniors, Social Security is an important source of income in retirement. So given the program’s importance to so many, it follows that you should exercise considerable caution when deciding…