Category Archives: Government Benefits
When I retire, how much will I receive from Social Security?
Question: When I retire, how much will I receive from Social Security? Answer: That depends upon how much you have earned and how long you have worked under the Social Security system. Your retirement benefit will be based on your … Continue reading
What happens if I start collecting Social Security after full retirement age?
Question: What happens if I start collecting Social Security after full retirement age? Answer: You’ll get a bigger check every month. However, how much bigger depends upon what year you reach full retirement age, and how long you postpone collecting … Continue reading
Should I retire now at age 62 and collect Social Security benefits?
Question: Should I retire now at age 62 and collect Social Security benefits, or should I wait? Answer: There’s no right time to begin collecting Social Security benefits, but the age at which you begin receiving benefits will affect how … Continue reading
How can I get an estimate of my Social Security benefits?
Question: How can I get an estimate of my Social Security benefits? Answer: The easiest way to get an estimate of your future Social Security benefits is to use the benefit calculators available on the Social Security Administration’s website, http://www.ssa.gov. … Continue reading
Are my Social Security benefits subject to income tax?
Question: Are my Social Security benefits subject to income tax? Answer: 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 … Continue reading
How Earnings Affect Social Security
If you begin to receive Social Security retirement (or survivor’s) benefits before you reach full retirement age, money you earn over a certain limit will reduce the amount of your Social Security benefit. In 2013, your benefit will be reduced … Continue reading
Medicare, Medigap, and Medicaid
Medicare Medigap Medicaid What is it? Federal health insurance program for Social Security recipients. Parts A and B comprise the original Medicare program.Medicare Advantage (also referred to as Part C) plans are also available. They provide managed care and fee-for-service … Continue reading
Understanding Social Security
Over 60 million people today receive some form of Social Security benefits, including approximately 39 million individuals age 65 or older. (Source: Fast Facts & Figures About Social Security, 2012) But Social Security is more than just a retirement program. … Continue reading
Social Security Survivor’s Benefits
When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier. Your family may be entitled to receive survivor’s benefits … Continue reading
Social Security Retirement Benefits
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor’s, disability, and other benefits, retirement benefits are still the cornerstone of the program. … Continue reading
