Sentences with phrase «because social security payments»

The earlier you retire, the more you will have to rely on savings to meet your income needs, because your Social Security payments will be lower (see chart).

However, because Social Security payments are based on a person's 35 highest earning years, working for a few more years at a high salary before claiming benefits could increase monthly payments.

Because Social Security payments increase if you delay claiming your benefits; your monthly benefit can go up until age 70.

Not exact matches

Upon turning 65 he also chose to NOT receive any Social Security payments because, again, he knows he can take care of himself and therefore should not rely on our tax dollars to help fund his daily living.

WASHINGTON, D.C. - U.S. Sen. Charles Schumer wants Social Security to send a one - time payment of about $ 580 to all recipients because they were frozen out of a cost - of - living adjustment for 2016.

Governments like the deal because it eliminates their share of Social Security and Medicare taxes that would accompany higher wage payments.

Vested teachers will receive their benefit payments later, but non-vested teachers who leave are not entitled to any funds and will have accumulated no mandated retirement savings at all because they do not participate in Social Security.

AC: Yeah my dad used to get all mad because he was paying in and his mother in law was receiving payments since she never worked in the Social Security system.

I am counting on Social Security though I've reduced my expected payments by 30 % because something has to change with Social Security, right?

Retiring later also provides the opportunity to get a larger monthly Social Security benefit, because each year a person delays claiming benefits past full retirement age (age 66 for people born between 1943 and 1959; age 67 for people born after) increases the monthly payment by about 8 %.

If you had, for instance, a job at a grocery store, you could earn up to $ 6,300 without filing a return, because the store would be informing the IRS about your employment anyway - as well as deducting Medicare and Social Security payments, etc..

Because profile creation involves entering a valid Social Security Number and responding correctly to «challenge questions» that verify identity (such as confirmation of mortgage carrier or recent payment amounts), your client might need to access financial records before registering.

Because the DOE and federal government have so many resources for collecting debt (income tax returns, social security payments, wage garnishing), it is rare they ever accept a debt settlement.

Many older persons who are not eligible for Social Security retirement benefits because they have not accumulated enough work credits may nevertheless be eligible for SSI, and even many of those receiving Social Security retirement benefits may be able to supplement their benefits with SSI payments.

This is because they are able to use the excess funds from the sale of a home or draw on their retirement accounts and Social Security payments.

People that are judgment proof may not need to file bankruptcy because creditors can't touch their assets are from social security, pension plans, 401 (k) retirement savings, disability benefits, veterans benefits, alimony or support payments.

But her Social Security and pension «annuities» will be worth more — not because their expected payments have necessarily increased, but simply because they're closer to the time when they'll start generating income.

If your SSDI or SSI benefits stop because you have returned to work and are earning over $ 500 per month, you will receive special benefit protection for the first 36 months that you return to work and receive no Social Security payments.

That's because the prospect of a comfortable retirement based largely on Social Security benefits or monthly pension payments is less certain than at any time since the Great Depression.

Because you aren't an employee, the payments you receive from your business don't have any federal income tax withholding taken from them, and there are no deductions for social security or Medicare.

I say «more» because you and your wife will already be eligible to collect Social Security, which is itself a type of annuity, indeed, one designed to automatically boost its payments each year to keep pace with inflation (although if the inflation benchmark used by Social Security doesn't rise, neither will payments, witness the fact that Social Security recipients won't receive a cost - of - living increase in 2016).

Nancy Kukay's Social Security checks are not at risk, because she keeps kept up with her monthly student loan payments.

The government could issue checks to cover all the unfunded liabilities it has promised for social security and medicare, but those checks would be worthless because no one would accept them as payment for anything.

I use to own my own company and I, unfortunately, had a brain annuerism and a stroke after about 5 years from starting that and I chose not to pay myself and, because of that, I was turned down for any benefits from the Social Security system because I could not show them any qui recent payroll payments that were also reducing my payments by Social Security payments of tax.