Score a much higher payday from Social Security
Did you know that any money you remove from a Roth IRA account will be yours to keep tax-free and won’t count as income for Social Security tax purposes? That’s right, and it’s so important to make this and two other moves to maximize income in retirement according to Maurie Backman. She also advises moving to a state that does not tax Social Security benefits, as 13 states do tax benefits. She lists them. Finally Backman notes you can undo your filing if you claim benefits too early. Full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
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