Get More From Your Social Security
Social Security is a retirement tool that most people rely on. Many taxable things can decrease the amount you earn from it, yet there are strategies to reduce this risk.
Watch this week's episode of Mike on Money, where Mike explains How to Get More From Your Social Security!
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To learn more, go to iwanttoretirewell.com
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00:01:43:12 - 00:02:16:22
Mike
So whatever you get gross for Social Security, you take half of that number. Plus, here's the fun part. Everything else? Oh, I don't like that one. Everything else. Here's the deal. What do they mean by everything else? Well, here's a little bit of a list for you. What they count. Everything else includes any pension you get. It includes any earnings.
00:02:16:22 - 00:02:55:28
Mike
So maybe, you know, who knows? Maybe you're working part time, right? Guess what? It's included rental income, business income. ira401k403b distributions. Right. Any any pretax retirement distributions count. That's a big E, especially when you have required distributions. Oh, things like what if you get interested in dividends that counts. How about this one? Tax free municipal muni bond interest counts.