Latest News
Some Things to Consider About Starting Social Security When Planning for Retirement - MSN.com
Retirement planning requires careful consideration, especially when you have other sources of retirement income. If you have other taxable income, your Social Security benefits will most likely be taxable as well, and up to 85% of those benefits can be taxed. Consider the tax consequences for a surviving spouse who will be filing single.
Marc Guberti has written an article about the benefits of spending other retirement funds first and delaying your Social Security benefits until age 70. Delaying Social Security can help reduce hidden consequences during retirement, including increased tax liability and higher Medicare Part B and Part D premiums when mandatory withdrawals begin.
For some pointers to help you avoid these hidden consequences, read the full article here….
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.