Planning for retirement involves many decisions, and one of the biggest is when to start claiming your Social Security benefits. You can start collecting benefits as early as age 62, but that choice comes with trade-offs. Although your monthly payment will be reduced compared to waiting until full retirement age (66 or 67, depending on … Read more
Social Security is a vital source of income for millions of retirees across the United States. However, not everyone is aware that these benefits may be subject to taxes – both federally and at the state level. While federal taxes on Social Security apply to retirees with income exceeding a specific threshold, some states impose … Read more
Many Americans rely on Social Security, a program that supports over 70 million people and is the largest federal government expense. Concerns about its financial future often include claims that Social Security funds are being “raided” by Congress and presidents. But is this true? Let’s break it down. Understanding the Basics of Social Security Funding … Read more
Are you planning to start drawing your Social Security benefits but still working full-time? This is a common situation for many nearing retirement, but it’s essential to understand the rules to avoid surprises. Here’s a breakdown of how Social Security works when you’re still employed. Understanding the Basics At 63, you are eligible to claim … Read more