Sentences with phrase «large social security benefits»

A worker with much higher earnings will receive a larger social security benefit, but it may replace only about 25 % of covered wages.

The biggest perk is having more time to save towards larger Social Security benefits and a bigger retirement savings fund in general.

Not exact matches

According to an August report by the Congressional Budget Office (CBO), debt will likely continue to grow as spending for large federal benefit programs — Social Security, Medicare and the like — outpaces revenue.

For about two - thirds of the elderly, Social Security is their major income source; for 36 percent, old - age benefits account for at least 90 percent of their income and these shares are even larger for minorities and for women.

If you collect a reduced benefit before your normal retirement age, Social Security will automatically give you the largest benefit available to you, whether it's based on your own work record, your spouse's record or a combination of the two.

The first paper, authored by economists at the Investment Company Institute and the IRS, used data from a large sample of taxpayers to examine what happened to individuals» inflation - adjusted disposable income up to three years after they claim Social Security retirement benefits.

One of the larger limitations is an earnings cap, which places a maximum amount on the gross earned wages that you bring home in any one year while still collecting your Social Security benefit.

The simplest explanation of this rule is this: the biggest Social Security check in the family is a 100 % «joint - and - survivor» benefit, meaning that large check keeps paying as long as either spouse is living.

«That's a mistake since you could wind up living for two or three decades more and, if so, you want your Social Security benefits to be as large as possible.»

Professor Jon May from Ifan said: «Even as the Government plans # 12 billion in cuts to social security benefits by 2019/20, some of our largest companies continue to avoid paying their fair share in tax.

The grassroots support large elements of Social Security, Medicare and benefits for military veterans.

From personal knowledge a very large number of Turkish Cypriots carry ROC passports, work in the south, have ROC social security numbers which permit them access health and other benefits.

Our Humble Opinion: Social Security is such a wonderful source of retirement income that most folks should delay benefits, so they get a larger monthly check.

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.

Some states, for instance, that don't tax Social Security benefits may take a larger chunk of money from income, sales or property taxes.

While many people may not rely solely on Social Security to fund retirement, the benefits may make up a large portion of your income.

If you postpone drawing on Social Security until age 70, you can receive your largest possible benefit.

If you have a higher income, a larger portion of your Social Security is taxed (up to a maximum of 85 % of benefits may be taxable).

That is, the so - called increase in the Social Security monthly benefit if you delay taking benefits beyond your normal retirement age is at least in part due to the fact that a «fixed pot of money» is being divided into larger chunks at age 70 (fewer months to live) than at age 67 (more months to live).

Borrowers can use loan proceeds and defer drawing from social security so their benefits are larger at a later age.

Retiring later also provides the opportunity to get a larger monthly Social Security benefit, because each year a person delays claiming benefits past full retirement age (age 66 for people born between 1943 and 1959; age 67 for people born after) increases the monthly payment by about 8 %.

If you are in good health and anticipate living a long retirement, it may be advantageous to delay Social Security payments as long as possible so you can enjoy larger monthly benefit checks over time.

Some prefer to wait, and take advantage of the fact that the longer they delay first taking Social Security payments, the larger their monthly benefit will be.

Another topic too detailed to address in this summary, but optimizing your social security benefit is one of the largest decisions you face as a retiree.

In 2018, Social Security recipients will get their largest cost of living increase in benefits since 2012, but the additional income will likely be largely eaten up by higher Medicare Part B premiums.

So then it's like well, I might want to dip out of those first and let my Social Security grow because now I have a lot larger benefit and it's going to be taxed favored to me.

• Major source of retirement assets — Combined, individual retirement accounts (IRAs) and Keoghs (for the self - employed) account for a sizable portion of the assets held by Americans in tax - preferred retirement plans and are likely to become the single largest source of retirement income outside of Social Security benefits for private - sector workers.

For example, the Social Security Administration, the largest user of the card, provides benefits including Supplemental Security Income (SSI) payments to about 1.5 million cardholders.

Check Out: Should You Take Social Security Early and Invest It — Or Claim Later For a Larger Benefit?

In addition, the lower earner could get a much bigger survivor benefit, since a survivor gets the larger of the couple's two Social Security checks.

Even if you do not qualify for Social Security, the FERS benefit is likely to be larger.

Since the offset amount is larger than your $ 600 Social Security benefit, your Social Security benefit would be eliminated.

Based on this information and your actual earnings history as maintained by the Social Security Administration, the Retirement Estimator generates an estimate of the amount you would receive if you were to retire at age 62 (the earliest date you can receive benefits), the amount if you waited until full retirement age (which currently ranges from 65 to 67, based on year of birth), and the larger benefit you would receive if you continued working until age 70 before claiming retirement benefits.

With most Americans saving very little of their paycheck, the fate of Social Security questionable, and large companies cutting benefits, it has never been more important to have an individual retirement account that you control.

If you wait until 70 to take Social Security, your monthly benefit will be 32 % larger than if you had taken it at 66.1

While the government hopes to save 18 billion Reais (GBP # 4.1 billion; USD$ 5.5 billion) per year with social security reforms, they have just approved annual tax cuts of 50 billion Reais (GBP # 11.4 billion; USD$ 15.2 billion) for foreign oil companies willing to explore the pre-salt oil reserve (one of the largest in the world), the benefits of which were to be directed, by law, to public health and education.

It is up to the national court to assess the specific nature of the social context and concrete circumstances of obvious social tension owing to a concentration of a large number of beneficiaries of international protection in receipt of social security benefits, in order to decide on the proportionality of the measure.

It lasts longer than short - term disability insurance; it is easier to qualify for and provides a larger benefit than Social Security disability insurance.

Also helpful for people who are older, but not quite at the $ 1 million mark, since, thanks to delayed retirement credits, your can receive larger (in fact, the largest) Social Security benefits by retiring at age 70.

While many people may not rely solely on Social Security to fund retirement, the benefits may make up a large portion of your income.

When one spouse dies, the survivor typically receives only the larger of the couple's two Social Security benefit payments, and pension payments and retiree medical benefits may also shrink.

When a person dies, there is often a large gap between the financial needs of the person's dependents and the amount available from other sources, such as Social Security benefits, available cash and savings.

Borrowers can use loan proceeds and defer drawing from social security so their benefits are larger at a later age.