Chapter 10
Making Your Best Choices under Social Security
IN THIS CHAPTER
Understanding Social Security retirement benefit calculations
Determining the best age for you to begin benefits
Understanding your options for increasing benefits when you’re married (or have been)
Avoiding lost benefits from working
Reducing taxes on Social Security benefits
Social Security is one of the least understood components of senior Americans’ personal finances. Traditionally, income during retirement comes from a combination of three sources, often referred to as legs of a three-legged stool. The three legs are employer pensions, personal savings, and Social Security. Many Americans generally take the Social Security leg for granted and don’t give it much thought.
However, this leg is quite important as you attempt to get a firm grasp on your personal finances. Too few people take the time to understand their options and the effects of their decisions about Social Security. And most financial advisors ...
Get Personal Finance After 50 For Dummies, 2nd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
