Four Key Points About Social Security
Barbara Eisner Bayer explains the lifeline and certainty that Social Security provides, yet acknowledges there are at least four key facts many people do not know before starting their benefits. They are: 1.) Your monthly amount isn’t permanent, as cost of living adjustments raise the amount each year; 2.) Payments arrive on a set day each month (second, third, or fourth Wednesday) based on day of birth; 3.) You can have Medicare premiums deducted from your check; and 4.) Benefits are subject to income tax after a fairly low threshold is met. Full piece here.