Sentences with phrase «for social security retirement»

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.

It did so because, at trial, Wife had testified that, although she was eligible to apply for Social Security retirement because she had turned age sixty - two, she intended to delay applying until age sixty - five so that she would get a higher 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.

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.

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.

The Windfall Elimination Provision primarily affects you if you earned a pension in any job where you did not pay Social Security taxes and you also worked in other jobs long enough to qualify for a Social Security retirement or disability benefit.

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.

Social Security Disability Insurance is funded by the same FICA taxes that pay for the Social Security retirement system.

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.

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.

And at a time of political uncertainly and rising U.S. government debt, where the long - term viability of pillars of retirement - age financial security like Medicare and Social Security is increasingly in doubt, the urgency of preparing for a long post-career life becomes that much security like Medicare and Social Security is increasingly in doubt, the urgency of preparing for a long post-career life becomes that much Security is increasingly in doubt, the urgency of preparing for a long post-career life becomes that much greater.

So, high - earning households spend significantly more of their income on Social Security — which is automatically deducted from all earned income for individuals at a rate of 6.2 % — and payments into retirement plans.

To use a concrete example, if you have a million bucks socked away for retirement, drawing down $ 30,000 a year (in addition to any other sources like Social Security or pensions) is a conservative enough choice that you should be able to sleep at night, confident that even extreme swings in the market won't harm your ability to keep your portfolio healthy into your nineties.

Social Security is expected to be a major source of retirement income for baby boomers, 50 million of whom will turn 65 in the next 10 years.

If you're like many retirees, your Social Security checks will account for a large portion of your retirement income.

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

Many are approaching retirement with only their Social Security to support them and a mortgage that is far from paid off, says Dean Baker, co-director of the Center for Economic and Policy Research.

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.

To stress - test your budget, he suggested practicing living off an amount equal to your guaranteed sources of retirement income for at least six months, including pensions, Social Security, annuities or — for the lucky few — trust funds.

The company offers its 825 workers technology coaching and hosts sessions on such issues as caregiving for aging parents and Social Security 101 and retirement planning.

Social Security is facing a deadline for providing future retirement income now that the baby boomers are entering the picture.

I have no debts whatsoever, plenty of cash savings, a very healthy retirement portfolio, a nice home all paid for, a good pension plus above average social security payments, so I am able to travel widely and stay in high end hotels.

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.

Currently, Social Security's full retirement age is 66 and two months for people turning 62 this year.

The budget would also require beneficiaries to have worked more in recent years, create a new demonstration project for experience - rating the SSDI payroll tax, update eligibility requirements, prevent double - dipping between SSDI and unemployment insurance, end SSDI eligibility for those who have reached Social Security's early retirement age, and reform the appeal process.