Category: Social Security

  • Silhouette of a family of three running happily along a beach shore at sunset

    Are my Social Security benefits subject to income tax? 

    A portion of your benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half your Social Security benefits, exceeds specific limits. Your MAGI equals:  Up to 50 percent of your Social Security benefits may be subject to income tax if your combined income (MAGI plus one-half your Social Security…

  • Couple reviewing financial documents at home — woman in a wheelchair smiling, husband standing beside her

    Optimizing Your Social Security Retirement Benefits 

    What does it mean?  Getting the most out of your contributions  Optimizing your Social Security retirement benefits means getting the best return possible on each dollar you’ve contributed to the system. Every pay period, you pay 6.2 percent of your salary in taxes that finance your future benefits (retirement, disability, and survivor’s benefits) and those…

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    Social Security Retirement Benefit Basics 

    Social Security benefits are a major source of retirement income for most people. Your Social Security retirement benefit is based on the number of years you’ve been working and the amount you’ve earned. When you begin taking Social Security benefits also greatly affects the size of your benefit.  How do you qualify for retirement benefits? …

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    Understanding Social Security 

    Almost 73 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits. 1 Although most people receiving Social Security are retired, you and your family members may be eligible for benefits at any age, depending on your circumstances.  How does Social Security work?  The Social Security system is based on…

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    Myths and Facts About Social Security

    Myth: Social Security will provide most of the income you need in retirement.  Fact: It’s likely that Social Security will provide a smaller portion of retirement income than you expect.  There’s no doubt about it — Social Security is an important source of retirement income for most Americans. According to the Social Security Administration (SSA),…

  • Two business colleagues — a woman and a man — reviewing content on a tablet in an office

    What are catch-up contributions?

    If you are 50 or older, or you will reach age 50 by the end of the year, you may be able to make contributions to your IRA or employer-sponsored retirement plan above the normal contribution limit. Catch-up contributions are designed to help you make up any retirement savings shortfall by bumping up the amount…

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    Social Security Retirement Income: a Primer

    What role does Social Security play in your retirement income strategy?  As you near retirement, it’s likely you’ll have many questions about Social Security. How much will your retirement benefit be? When should you apply? Will earnings from a part-time job affect your benefit? Social Security has always been a major source of income for…