If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work in some capacity? Will changes in your income sources affect your standard of living?
Receiving Social Security benefits is advantageous in retirement, but like almost every other form of income, these benefits are taxed by the government. To accurately predict your retirement income (and taxes), it’s important to understand how Social Security benefits are taxed. Here, we explain everything you need to know about Social Security benefit taxation. How are social security benefits taxed? What are the social security tax thresholds? How do I maximize my Social Security benefits?
What are the benefits of Social Security? How does Social Security work from birth to retirement?
Did you know that you can claim a spousal benefit for social security? We detail a few important situations where you can claim spousal benefits for social security, even if you're widowed or divorced.
One of the most complex and important financial decisions you can make is when to claim Social Security. Here are some key points and considerations to think about when you should claim Social Security.