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Are my Social Security benefits taxable?
Whether or not your Social Security benefits are taxable income depends entirely on how much your “combined income” is. Combined income is your adjusted gross income from working, plus any non-taxable interest you may have and half of your total…
Don’t leave Social Security money on the table
If you would like more retirement income (and who wouldn’t?), then knowing some of the basic facts about Social Security will go a long way to helping you achieve that. Not paying attention to just a few key things before…
Be careful if you’re thinking of claiming Social Security at 65
Many people think of 65 as the age at which they should claim their Social Security benefits. 65 is, of course, the historic retirement age when the Social Security was first enacted, and to many enrolling in Medicare at 65 may…
Your Social Security Number: What does it say about you?
Everyone is familiar with their Social Security number, which has evolved into a method of identifying you for nearly everything from Social Security purposes to healthcare and financial services. But do you know what those 9 digits actually represent and…
Computing your Social Security benefit amount
In this article appearing in The Street financial e-magazine, contributor Robert Powell answers questions about how Social Security benefits are calculated in a couple of different circumstances. In one case he corrects some bad information that was given to a…
The old days: “Living in sin” to keep widow’s benefits
Way back in “the old days”, if an unmarried woman and man were living together they were often described as “living in sin”. Despite the fact that it was socially unacceptable back then, many a widow was forced into that situation…
The “4% Rule”, and its flaws
The “4% Rule” is a strategy which says that you should withdraw no more than 4% of your retirement savings (adjusted for inflation) annually to make your nest egg last 30 years. This rule has been around for a long…
Using Delayed Retirement Credits to boost your Social Security benefit
Nearly everyone approaching retirement knows that if you take your Social Security benefit as soon as you are eligible at age 62, you’re going to be receiving less than your otherwise would. All Social Security benefits are computed from the…
Calculating your Social Security benefits
Social Security is, of course, only one element of your retirement financial plan, but it’s an extremely important source of income for over 42 million retirees. Where Social Security will fit in your personal future retirement plan can be hard…
Questions answered on Social Security spouse and survivor benefits
Social Security is a complex program which is often misunderstood, especially by spouses and survivors. Navigating the intricacies of Social Security is a challenge for most, and getting answers from the Social Security Administration can be an exercise in frustration. Enter syndicated…