Sentences with phrase «if social security payments»

If your Social Security payments are large enough to cover all or nearly all of your essential retirement expenses — which you can estimate by going to one of the online budget calculators listed in RealDealRetirement.com's Retirement Toolbox — then you may be able to get by quite nicely on Social Security plus periodic withdrawals from your diversified portfolio of stocks, bonds and mutual funds to cover any excess expenses as well as emergencies and occasional splurges.

But if your Social Security payments fall well short of providing you with sufficient assured income to cover basic expenses — or, if you just prefer the emotional comfort of having a larger cushion of guaranteed income — then you may want to consider devoting a portion of your savings to an immediate annuity.

If Social Security payments alone cover all more most of their essential expenses, chances are don't need an annuity.

Not exact matches

Project Jasper, a joint effort between the private sector and Canada's central bank and payment systems operator over the past two years, is a good example of this type of work, and is a blueprint that the U.S. should follow if we ever want to see blockchain become a viable Social Security number replacement.

If the customer accidentally inputs the last four digits of his or her Social Security number instead of the credit card security number when filling out the payment text boxes, offer a proactive chat to provide gSecurity number instead of the credit card security number when filling out the payment text boxes, offer a proactive chat to provide gsecurity number when filling out the payment text boxes, offer a proactive chat to provide guidance.

At the Federal Reserve's target rate of 2 percent, inflation could erode more than $ 73,000 of a retiree's purchasing power over 20 years if that person were receiving the monthly average Social Security retirement payment of $ 1,341.

Unlike using social media to endorse a shoe or a breakfast cereal — which can lead to an FTC slap - on - the - wrist if payment arrangements are not disclosed — the stakes when it comes to securities (if indeed that is what the tokens are) are much higher.

According to the IRS, «payments for the services of a child under age 18 who works for his or her parent in a trade or business are not subject to social security and Medicare taxes if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of the child.»

If you do have to pay taxes on your Social Security benefits, you can make quarterly estimated tax payments to the IRS or choose to have federal taxes withheld from your benefits.

If you are a widow or a widower, you are eligible to collect your former spouse's Social Security payments as a survivor benefit.

Ann would earn more than $ 174,000 in extra payments if she lived to age 89, boosting her lifetime benefits by about 44 %.2 These rules are complex, however, and you should consider speaking with a Social Security representative.

If not, there will be a domino effect cascading all the way down to monthly pensions and social security payments.

Tax filers who qualified for less than $ 300 of the full basic credit ($ 600 for joint filers) could get $ 300 ($ 600 for joint filers) if they had either (1) at least $ 3,000 in earnings, Social Security benefits, and veteran's payments or (2) net income tax liability of at least $ 1 and gross income above specified thresholds.

If a widow or widower who is caring for your children receives Social Security benefits, they're still eligible if their disability starts before those payments end or within seven years after they enIf a widow or widower who is caring for your children receives Social Security benefits, they're still eligible if their disability starts before those payments end or within seven years after they enif their disability starts before those payments end or within seven years after they end.

However, since Social Security is primarily meant as financial assistance for retirees, you can be penalized if you earn too much income while receiving Social Security payments.

How it works: When you die, your spouse is eligible to receive your monthly Social Security payment as a survivor benefit, if it's higher than their own monthly amount.

If you're looking for a lower - key, less - costly retirement, taking your benefits early — and receiving smaller Social Security payments — might make sense.

As the site shows, if you start taking your Social Security payments before you hit your full retirement age, your monthly benefit will be lower.

The Social Security Administration says that if you delay receiving your Social Security benefits until you hit 70, your monthly payment will be 32 percent higher than if you had retired at full retirement age.

For instance, if you were $ 5,000 over the earnings limit for the year, Social Security would withhold $ 2,500 from future payments to satisfy the penalty.

If you're collecting disability payments when you reach your full retirement age, the Social Security Administration converts them into retirement benefits.

So if someone is collecting a spousal benefit based on your Social Security, he or she, too, will have payments halted.

If they are, you will need to complete the application with information about your employment status, income, address, housing payments, Social Security Number and other personal information.

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

(B) his waiver of all benefits and other payments under titles II and XVIII of the Social Security Act on the basis of his wages and self - employment income as well as all such benefits and other payments to him on the basis of the wages and self - employment income of any other person, and only if the Commissioner of Social Security finds that --

He says all of the other public protection employees in New York receive 75 % of their pay if they become disabled on the job, but in New York City, they receive only 50 %, with a deduction for any social security payments..

It is worth noting that while people under age 65 in the U.S. live in a heavily market - dominated economy where poor employment outcomes mean poverty and a lack of access to health care, almost everyone over age 65 has most of their healthcare paid for by Medicare, (a FICA tax financed, single payer system that pays providers more or less the same rates as private insurance companies and has few cost controls), more than half of their nursing home costs paid by Medicaid, (which is stingy in how much it pays providers and moderately means tested), and receives enough of a guaranteed income from the combination of Social Security and SSI payments to keep the poverty rate for people age 65 +, (even if they have no retirement savings of their own), above the poverty line, regardless of the state of the local economy.

Your Social Security payments may go down a bit, but you may also receive less upon retirement if a complex plan to deal with federal tax changes goes through in New York.

But if you're covering most of your essential expenses from Social Security, pensions and (if needed) annuity payments, you should have flexibility to adjust withdrawals as needed.

In contrast, those who wait until age 70 to enroll are rewarded with a 32 % increase in the total monthly payment they qualify for at their full retirement age.1, 2 Today, the average monthly social security check is $ 1,404.3 If an individual was eligible to receive the average monthly payment amount at their full retirement age but they enrolled at age 62, they would only receive $ 1,053 per month.

If you ignore your tax debt, when you become eligible to receive Social Security payments, the IRS might come calling.

If, on the other hand, your Social Security and any pension payments fall well short of covering your essential expenses, then you might want to consider closing or narrowing that gap by devoting some, but not all, of your nest egg to an immediate annuity that can generate additional lifetime income.

If you don't have an approved payment plan, the Social Security Administration will start deducting a specific amount of money from your monthly benefits before you receive them.

Just remember: If you work and collect Social Security benefits when you are below full retirement age, your monthly benefit could be reduced if your earnings exceed certain thresholds (although if it is, Social Security effectively restores those withheld payments by increasing your benefit when you reach full retirement ageIf you work and collect Social Security benefits when you are below full retirement age, your monthly benefit could be reduced if your earnings exceed certain thresholds (although if it is, Social Security effectively restores those withheld payments by increasing your benefit when you reach full retirement ageif your earnings exceed certain thresholds (although if it is, Social Security effectively restores those withheld payments by increasing your benefit when you reach full retirement ageif it is, Social Security effectively restores those withheld payments by increasing your benefit when you reach full retirement age.)

If you claim Social Security early, you will receive that income for more years, but with a smaller monthly payment.

If they do send a W - 2 I would think that they withheld taxes, social security and medicare from the original payment.

Even if you make payment to VA voluntarily and directly, the Department of the Treasury will still go on with the offset on a portion of your payments for Social Security.

If a combination of pensions, Social Security, and savings will provide ample income, it might be easier to manage mortgage payments in retirement and still receive a substantial tax - deduction for the interest paid.

If you have established considerable equity in your home and are 62 years or older, a reverse mortgage can help supplement all types of retirement income, especially Social Security payments.

If, on the other hand, Social Security doesn't come close to covering even your basic living expenses — or you think you'll have more peace of mind with extra guaranteed income — then you may want to consider going with the annuity payments.

If they are, you will need to complete the application with information about your employment status, income, address, housing payments, Social Security Number and other personal information.

It makes total sense to me that if someone dies on the 25th and gets a Social Security payment on the 26th that the payment needs to be returned.

If you can retire before the full Social Security retirement age of 66 years and two months, it is possible to begin receiving early payments.

If a widow or widower who is caring for your children receives Social Security benefits, they're still eligible if their disability starts before those payments end or within seven years after they enIf a widow or widower who is caring for your children receives Social Security benefits, they're still eligible if their disability starts before those payments end or within seven years after they enif their disability starts before those payments end or within seven years after they end.

And if Social Security's payments are already covering all or most of your basic living expenses, you may already have all the guaranteed income you need.

If you owe money to the IRS, Social Security disability payments can be garnished through the Federal Payment Levy Program.

If your Social Security income, any pension payments, home equity reserve, etc. would be enough to cover most of your expenses even during a prolonged market downturn, then maybe you can afford to tilt that baseline mix more toward stocks.

Once you stop working, all you'll have to live on is your retirement savings, your social security and pension / benefit payments and, if applicable, investment dividends.

One way to answer that question is to see how long that $ 41,918, plus future investment earnings on it, would last if you withdrew just enough each year so that the withdrawal plus your lower Social Security payment would match the higher full - age benefit.

Online car loan applications typically require contact information, social security number, employment information, monthly income, and mortgage payment if any.