The Continued Complexity of Social Security
Social Security is not an easy thing to comprehend. At first glance it seems simple enough, you pay the tax while you’re working in order to receive payments when you’re not. But things are rarely as simple as they seem at face value. Navigating all the quirks in the system can be a daunting task for even the professionals that do it for a living. Almost nobody has all the answers and everybody’s situation is unique heading in to retirement. There are a few basic things, however, that can greatly aid you when you are ready to file for your payouts. You’re monthly checks are affected by when you choose to file, filing at an older age will net higher checks than filing at a lower age. Depending on your other sources of income and which state you live in, you may have to pay taxes on your Social Security benefits. There are many other things to know about that are not inherently obvious. For more information on this, visit this article by Emily Brandon with US News and World Report.