Sentences with phrase «social security retirement benefits as»

You can start getting Social Security retirement benefits as early as age 62 if you are insured, but your benefit amount will be less than you would have gotten if you waited until your full retirement age.

You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.

You can collect Social Security retirement benefits as early as age 62, but you'll get less by doing so.

You can start your Social Security retirement benefits as early as age 62 or as late as age 70.

Forty - five million retired workers and their dependents receive Social Security retirement benefits as of June 2017, with an average monthly benefit of $ 1,369.

Not exact matches

Taking Social Security retirement benefits at 62 only makes sense in a limited number of circumstances, such as if you are single and terminally ill.

While you can choose to receive your Social Security benefits before your full retirement age (as defined by Uncle Sam), doing so results in lower monthly payments and possibly more reliance on your savings.

[10] Examples of money income — sometimes referred to as «cash income» — include: wages and salaries; income from dividends; earnings from self - employment; rental income; child support and alimony payments; Social Security, disability, and unemployment benefits; cash welfare assistance; and pensions and other retirement income.

How much risk you can afford to take with your investment portfolio during retirement, or when approaching it, depends on your cash flow from available income streams — such as pensions, Social Security benefits or annuities — and doing a thorough cash - flow analysis is paramount.

While Old Age Security and the Guaranteed Income Supplement were designed to provide a basic minimum amount to Canadian seniors, the new Canada and Quebec Pension Plans were contributory social insurance programs established to provide basic death, survivor and disability benefits as well as retirement coverage.

In general, retirement income can come in many forms — such as dividends, interest, capital appreciation, investment principal, Social Security benefits, pensions, insurance, and even inheritances — to name a few.

Withdrawals from tax - deferred accounts are taxable income, and can trigger a huge hit on your Social Security Income, and finally (d) income management for ancillary benefits in retirement such as various localities» property tax abatements for seniors of sufficiently low income.

If you plan on taking Social Security benefits before you reach your full retirement age — which is currently as old as 67 if you were born in 1960 or later — your benefits might be reduced even if you only work part - time.

As described below, Social Security benefits and other types of retirement income are taxed in West Virginia but seniors can claim a deduction to offset those taxes.

The earnings test does not apply to this group — that is, seniors who have reached full retirement age can earn as much as possible with no effect on their Social Security benefits.

Around 2005, as John and Sue Smythe of Everett, Wash., approached retirement age, they assessed their finances and decided a couple of things: Social Security benefits wouldn't be enough to sustain them; and they wanted a consistent source of recurring revenue they could depend on and plan for.

Second, as the population ages and the number of retirees climbs, the costs associated with Social Security, government pensions, and healthcare retirement benefits increase.

As a general rule, early or late retirement will give you about the same total Social Security benefits over your lifetime.

If you were born after 1937, you also can start your Social Security benefits as early as age 62, but your full retirement age is more than 65.

Sixty - five became America's unofficial retirement age in 1935, when President Franklin Delano Roosevelt — Jim Roosevelt's grandfather, as it happens — signed the Social Security Act, which set it as the minimum age for receiving full retirement benefits.

As a general rule, survivors benefits based on age will be about the same total Social Security benefits over a lifetime, whether they start early or at full survivors retirement age.

The Social Security Administration itself says, «As a general rule, early or late retirement will give you about the same total Social Security benefits over your lifetime.»

If you qualify for Social Security, you can claim your benefits as early as age 62, but you won't get 100 % of the benefit you're entitled to unless you wait to claim until you reach your full retirement age.

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.

As we pointed out in our post last week, a withdrawal rate strategy should respond to market factors like equity valuations and bond yields as well as personal factors like age, retirement horizon, and expectations about pension and Social Security benefitAs we pointed out in our post last week, a withdrawal rate strategy should respond to market factors like equity valuations and bond yields as well as personal factors like age, retirement horizon, and expectations about pension and Social Security benefitas well as personal factors like age, retirement horizon, and expectations about pension and Social Security benefitas personal factors like age, retirement horizon, and expectations about pension and Social Security benefits.

Most people are eligible to receive Social Security benefits as early as age 62, but those benefits increase if you wait until your full retirement age (usually 67), and rise even more if you delay until age 70.

«As an advisor, I worked with some colleagues to develop a beautiful report that covered the basics of when and why one should file for Social Security retirement benefits and what you should consider doing with the balance of your retirement assets.

In 2013, the Corporation for Social Security Claiming Strategies was formed and one year later, A Comprehensive Guide to Social Security Retirement Benefits and Social Security Claiming Strategies was launched endeavoring to provide advisors with the knowledge necessary to advise clients on the intricacies of the Social Security system and teach them to utilize that information as the foundation for retirement income plans sustainable throughout their client's lifetime and beyond.

As noted earlier, the advantage of introducing individual retirement accounts into the picture is to partially repair the present disconnect between individuals» savings and the political decisions about their eventual Social Security benefits.

Reforms such as higher taxes, lower benefits and delayed retirement are designed to put Social Security on a firm financial footing, so that the sheer passage of time does not force future payees and retirees into a crisis that would severely hurt both groups.

However, an expectation does not by itself create an adequate financial base for retirement, especially when the expectation is based — as it is in the U.S. — on substantial Social Security benefits.

Social Security provides retirement benefits to retired workers (36 million of them, as of December 2009) and their eligible dependents.

As a result, they suffer loss of wages and risk losing job - related benefits such as health insurance, retirement savings, and Social Security benefitAs a result, they suffer loss of wages and risk losing job - related benefits such as health insurance, retirement savings, and Social Security benefitas health insurance, retirement savings, and Social Security benefits.

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.

Hawaii's pension system is based on a benefit formula that is not neutral, meaning that each year of work does not accrue pension wealth in a uniform way until teachers reach conventional retirement age, such as that associated with Social Security.

Florida offsets unemployment by Social Security retirement benefits received on a number other than the worker's, such as benefits as a spouse or widow.

One of the reasons that the average Social Security retirement benefit amount is so far from the maximum is because the largest number of Americans begin receiving benefits as soon as they're allowed — at age 62.

If the average Social Security retirement benefit sounds unimpressive, remember that Social Security is meant to supplement the money you've set aside for retirement — likely earned through a qualified retirement plan such as a 401 (k), individual retirement account or other tax - advantaged account.

Other types of income that do not qualify as earned income for the credit include child support, retirement income, Social Security benefits, unemployment benefits and alimony.

As much as 85 % of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax - deferred retirement accountAs much as 85 % of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax - deferred retirement accountas 85 % of your Social Security benefits could be taxable if you have other sources of income, such as earnings from work or withdrawals from tax - deferred retirement accountas earnings from work or withdrawals from tax - deferred retirement accounts.

At LoanMart, you can get a title while on benefits such as retirement pension and social security.

Even those who do not have an actual job can qualify for the guaranteed personal loan because this loan is available to people who rely on benefits from Social Security Retirement, Social Security Disability, Supplemental Security Income (SSI), railroad retirement and other retirement plans, as well as those whose income is derived from child support, alimony, or palimony.

One of the most important decisions to make as retirement gets closer is when to start collecting Social Security benefits.

Lower - earning spouses who claim their own Social Security benefit before full retirement age take a cut of as much as 25 %.

If you begin receiving Social Security retirement benefits before you reach your full retirement age as defined by the Social Security Administration — full retirement age depends on your birth year — you'll receive a reduction in benefits of as much as 30 percent.

As you near retirement, when to claim your Social Security benefit is one of the biggest financial decisions you'll need to make.

Thus, as a simple rule of thumb, if you are in poor health or heredity is against you and so you don't anticipate living a long time after retirement, start your Social Security benefits early.

The key job of a retirement financial advisor is to help determine the best time to take key steps — such as making retirement saving account withdrawals, rebalancing investments or beginning to collect Social Security benefits — that will help you experience the retirement you envision.

Retirement income in the United States has been described as a three - legged stool composed of Social Security benefits, personal savings, and employer - based retirement plans.

Using the Social Security Administration's MINT (Modeling Income in the Near Term) model, this paper calculates the marginal returns to work near retirement, as measured by the increase in benefits associated with an additional year of employment at the end of an individual's work life.