Sentences with phrase «social security retirement benefits alone»

Although Social Security retirement benefits alone are generally not taxable, people with even a modest amount of income in addition to their Social Security payments may pay taxes on their benefits.

This, along with the low cost of living in South Carolina, means it is possible for some seniors in the Palmetto State to survive on Social Security retirement benefits alone.

Not exact matches

Social Security is not sufficient as a stand - alone retirement program, but case studies from three hypothetical teachers of varying experience levels show that teachers of all experience levels would benefit from Social Security coverage as one component of a comprehensive retirement plan.

To do that, you'll want to go through a rigorous retirement - income planning process that starts with thinking seriously about how you'll live in retirement and then moves on to such tasks as making a retirement budget; assessing different strategies for claiming Social Security benefits; considering whether you want more guaranteed income than Social Security alone offers (which is where an annuity might play a role); and, settling on a withdrawal rate that has a reasonable shot at making your savings last as long as you do.

Social Security provides a lifelong stream of income, but unfortunately, in most cases, the benefits alone aren't enough to sustain a long and comfortable retirement.