If you hit the lottery, what happens to your Social Security?
Especially now, with the Mega-Millions and Powerball lotteries each luring us with jackpots of hundreds of millions of dollars, seniors may wonder what will happen to their Social Security benefits if their lucky numbers are called. Well not to worry, because lottery winnings aren’t considered “earnings” for Social Security purposes, so the annual earnings test doesn’t apply. But, reaping those lottery winnings could affect your Medicare Part B premium, as this Kiplinger article by Kimberly Lankford explains. Click here to read more.