Sentences with phrase «for social security retirement benefits»

If you want to postpone the starting date for Social Security retirement benefits beyond your full retirement age, you will receive a permanently increased benefit that is a percentage of the full benefit amount.

People who qualify for social security retirement benefits can begin receiving those benefits in the month after they reach age 62, or any month after that, even though they won't reach full retirement age for a few more years.

From what we can tell, Mom's application for Social Security retirement benefits has been accepted and now it's simply a matter of waiting for payments to begin.

To be eligible for Social Security retirement benefits, American workers need 40 «credits,» which essentially means 10 years of work at Social Security - covered employers.

is the same as applying for Social Security retirement benefits, but the Social Security office is likely to ask additional questions.

When you apply for Social Security retirement benefits, your children might also qualify for payments up to one - half the amount of your payments.

To qualify for Social Security retirement benefits, you need to earn 40 credits.

To qualify for Social Security retirement benefits, you must have paid Social Security taxes for at least 10 years (or 40 credits or «quarters») over the course of your lifetime.

In addition, the worker must have filed for Social Security retirement benefits and be receiving them in order for the spouse to collect benefits on the worker's record.

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.

Traditionally, earning 40 - lifetime work credits is the easiest way to qualify for Social Security retirement benefits.

The excess was placed in a trust fund earmarked for Social Security retirement benefits and used to purchase Treasury bonds.

When you qualify for Social Security retirement benefits, your children may also qualify to receive benefits on your record.

The extra earnings credits will either contribute to the veteran having enough years of credit to qualify for social security retirement benefits or will augment the wage credits a veteran already qualified for benefits has on his account.

To be eligible for Social Security retirement benefits, you generally need to have accumulated at least 40 work credits over your lifetime.

The amount of your income that you pay Social Security tax on matters because it helps you accumulate work credits that qualify you for Social Security retirement benefits and Social Security disability benefits — and it enables you to determine how much your benefit will be.

Traditionally, earning 40 lifetime work credits is the easiest way to qualify for Social Security retirement benefits.

Instead of focusing on the poor families that do not qualify for Social Security retirement benefits in the first place, the remainder of this paper will focus on the families who are effectively denied full coverage because of their family forms and in spite of their input from taxes and participation in the labor force.

«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.

Once Cheryl learned nearly 10,000 baby boomers were retiring each and every day — all of whom could benefit greatly by working with advisors that possessed the expertise necessary to help them make the best possible decision about when and how to file for Social Security retirement benefits, she embarked on the course to create that which was to become CSSCS.

In 2016, there will be no cost - of - living adjustment for Social Security retirement benefits.

Here's how it works: A person files for Social Security retirement benefits at full retirement age, but then suspends payment of them.

Never in a million years would I have dreamed that the $ 2.50 an hour job I had back in 1976 would affect how much money I'd get for my Social Security retirement benefit.

Not exact matches

Possible reforms could include raising the full retirement age for Social Security to 70 for workers who are currently under age 40; cutting benefits; increasing payroll taxes on workers; increasing Medicare premiums; and making Social Security benefits more progressive — meaning cutting benefits for high - income workers, while preserving payouts for low - income earners.

Claiming Social Security retirement benefits at the earliest age — 62 — is a big temptation for many aspiring retirees.

More from Fixed Income Strategies: If you're lucky, this retirement expense will be just $ 280K How to decide if you should delay claiming Social Security Hidden tax benefits for retirees and their caregivers

Although Sanders and his wife's joint tax return showed income of only a little more than $ 200,000 for 2014 — including his $ 174,000 salary, his mayoral pension, and their Social Security payments — the senator's expected retirement benefits make his situation much more comparable to those in the millionaire class he faults.

«Gaps are certainly of special concern to those considering early retirement, since they are eligible for Social Security benefits at 62, but must wait until age 65 to receive Medicare,» said Kimberley Foss, a certified financial planner and founder of Empyrion Wealth Management.

The size of your Social Security check increases by a certain percentage for each month you delay taking benefits beyond your full retirement.

CAP also determines Social Security benefits based on projected wages across the worker's career and includes the difference in Social Security earnings in the retirement calculation for 15 years after retirement.

For these people, their sole retirement income, aside from potential aid from friends and family, comes from Social Security, for which the current average monthly benefit is $ 1,2For these people, their sole retirement income, aside from potential aid from friends and family, comes from Social Security, for which the current average monthly benefit is $ 1,2for which the current average monthly benefit is $ 1,230.

For example, my full retirement age is 67 and if I claim at age 62, the earliest age at which I can file for Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age benefFor example, my full retirement age is 67 and if I claim at age 62, the earliest age at which I can file for Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age beneffor Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age benefit.

Those who turn 62 and are therefore first eligible for early retirement benefits from Social Security in 2018 will have a retirement age of 66 and four months, with the age rising two months every year until hitting 67 for those born in 1960 or later.

The estimated Social Security benefit for workers retiring at full retirement age in 2018 is $ 1,404.

The RSC budget make Social Security sustainably solvent by implementing a slightly modified version of Representative Sam Johnson's (R - TX) «Social Security Reform Act,» which would slow initial benefit growth for higher earners, gradually raise the normal retirement age to 70, and eliminate annual cost - of - living adjustments for higher earners while using the more accurate chained Consumer Price Index (CPI)(currently used for the tax code) for other beneficiaries.

I plan on taking Social Security at 66, because that will be full retirement age for me, and my wife will receive 50 % of my benefit when I claim it (the max she can get).

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.

thanks, and yes, a pittance of a pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch of service)-- along the way, frugal living, along with dollar - cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed for Medicare in several years, albeit with a nice supplemental and pharmacy benefits — but our main concern is staying fit, active, and healthy!

If your budget for early retirement includes working part - time and getting Social Security benefits, you could take an unexpected financial hit.

For single filers, if that number is greater than $ 25,000, your Social Security retirement benefits may be taxable.

For 2018, if you don't reach your full retirement age during the year, your Social Security benefits are reduced by $ 1 for every $ 2 you earn in excess of $ 17,0For 2018, if you don't reach your full retirement age during the year, your Social Security benefits are reduced by $ 1 for every $ 2 you earn in excess of $ 17,0for every $ 2 you earn in excess of $ 17,040.

«Using the» 4 percent rule» — drawing 4 percent annually from retirement savings — this level of savings, coupled with Social Security benefits, will probably meet all spending needs for the long duration of retirement,» Kruzel said.

The BLS observes «The leading edge of the baby boomers (those born in 1946) became eligible for early Social Security benefits at age 62 in 2008 and reached full retirement age at 66 in 2012.

According to Financial Engines research, seven out of ten current retirees say Social Security benefits are a major source of their retirement income, while the Social Security Administration says about one in four married couples — and nearly half of unmarried individuals — rely on Social Security for 90 % or more of their income.

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.

The materials in this toolkit are designed to educate workers approaching retirement about their options for taking Social Security benefits, and about why it can pay to wait.

«For each year participants defer claiming Social Security, they receive a 6 - 8 % increase in lifetime benefits, under current conditions, which can make a big difference in their quality of life in retirement.»

You'll need a plan for managing your income during retirement, and you'll need to decide when to start claiming Social Security benefits.

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.

Anyone who pays into Social Security for at least 40 calendar quarters (10 years) is eligible for retirement benefits based on their earnings record.