Timothy Sumer

In today’s video, we’re discussing how Social Security benefits are taxed! ➡️ Link mentioned in video to calculate if your benefits are taxable: ➡️ Must watch video on what you need to know if you are retiring in 2023: ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips Two big questions we get all the time: Are my Social Security Benefits taxable? If so, by how much? The answer is, “It depends on your income!” Currently if your income is more than the following: $25,000 for an individual or $32,000 for a married couple filing jointly You must pay “federal” income taxes on your Social Security benefits. If your income is less than this, your benefits are not taxed. Note: This applies to all the following: Social Security retirement benefits spousal benefits survivor benefits and Social Security Disability Insurance (SSDI) How much you’ll be taxed is determined by the following: up

There are 7 Social Security facts every retiree must know. These will, in large part, determine both the quantity of your payment and quality of life for you and other dependents who may quality based on your filing. This video discusses what these 7 Social Security "must knows" are and how they affect you personally. I discuss Social Security payment vs filing age, Social Security's Return on Investment (ROI for middle income retirees, the Cost of Living Allowance (aka COLA) and why this is important, the possibility and implications of collecting Social Security while still working, changing your mind and "un-filing" for Social Security using SSA Form-521 and spousal benefits. RECOMMENDED VIDEOS 3 Social Security "Little Known Facts" that are VERY IMPORTANT: 7 Good Reasons to File for Social Security at Age 62: Average Retirement Savings at 60: Average Retirement Savings at 50: 3 Easy Ways to Boost Your Retirement Savings - Average

Several viewers have recently asked me whether it makes sense to claim social security at 62 if you plan to invest the money. At first, it seems like a solid strategy. While your monthly benefit will be lower, you get years of investment returns you'd otherwise forfeit. It turns out, however, that the issue is a bit more complex. First, depending on your investment returns, claiming social security at 62 may or may not turn out in your favor. The arguably more important issue, however, is taxes. Claiming social security at 62 could affect everything from how much your social security benefits are taxed to IRMAA premiums or ACA credits. It could also affect a Roth conversion strategy. Join the newsletter: ———————————— Video Resources ———————————— Social Security Benefits Calculator: Taxes on SS Benefits: IRMAA Premiums: MAGI for IRMAA: MAGI for ACA Credits: ———————————— Investing Tools ———————————— My Book (Retire Before Mom and Dad): Personal Capital (Investm

Make the most out of your Social Security in retirement by understanding how Social Security benefits work and what Social Security collecting strategies are available. Allison Alley, CFP®, AIF®, Pure financial advisor outlines 5 ways to maximize your benefits: 1. Understand how your Social Security benefit is calculated. 2. Impact of collecting Social Security benefits early or late. 3. The importance of spousal benefits. 4. Applying for survivor benefits if applicable. 5. How much of your Social Security income is subject to federal taxation. Also: Withdrawing your Social Security Retirement application. Check your Social Security earnings record for accuracy. Download the Social Security Handbook: Watch Allison's full webinar on Maximizing Social Security Benefits Under the Latest Rules: Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to th

You could be entitled to claim up to HALF of an ex’s Social Security benefit! Many divorced individuals do not realize that they are actually eligible to collect a spousal Social Security benefit based on their ex-spouse’s work record! In this video, Jim discusses how Spousal benefits for divorcees work as well as the criteria you must meet to claim these important benefits. To get a free copy of The Little Black Book of Social Security Secrets go to www.paytaxeslater.com/ss. Social security, retirement, Bipartisan Budget Act, BBA, SS, benefit, social security benefits, apply and suspend, file and suspend, restricted application, social security secrets, james lange, little black book, government retirement benefits, social security strategies, social security strategy, surviving spouse, spousal benefits, social security choices... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA A