Piper - Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less
Here you can read online Piper - Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less full text of the book (entire story) in english for free. Download pdf and epub, get meaning, cover and reviews about this ebook. year: 2015, publisher: Simple Subjects, LLC, genre: Detective and thriller. Description of the work, (preface) as well as reviews are available. Best literature library LitArk.com created for fans of good reading and offers a wide selection of genres:
Romance novel
Science fiction
Adventure
Detective
Science
History
Home and family
Prose
Art
Politics
Computer
Non-fiction
Religion
Business
Children
Humor
Choose a favorite category and find really read worthwhile books. Enjoy immersion in the world of imagination, feel the emotions of the characters or learn something new for yourself, make an fascinating discovery.
- Book:Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less
- Author:
- Publisher:Simple Subjects, LLC
- Genre:
- Year:2015
- Rating:5 / 5
- Favourites:Add to favourites
- Your mark:
Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less: summary, description and annotation
We offer to read an annotation, description, summary or preface (depends on what the author of the book "Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less" wrote himself). If you haven't found the necessary information about the book — write in the comments, we will try to find it.
Piper: author's other books
Who wrote Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less? Find out the surname, the name of the author of the book and a list of all author's works by series.
Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less — read online for free the complete book (whole text) full work
Below is the text of the book, divided by pages. System saving the place of the last page read, allows you to conveniently read the book "Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less" online for free, without having to search again every time where you left off. Put a bookmark, and you can go to the page where you finished reading at any time.
Font size:
Interval:
Bookmark:
Made Simple
Social Security Retirement Benefits and
Related Planning Topics
Explained in 100 Pages or Less
Made Simple
Social Security Retirement Benefits and
Related Planning Topics
Explained in 100 Pages or Less
Mike Piper
Copyright 2012 Mike Piper
No part of this publication may be reproduced or distributed without express permission of the author.
Simple Subjects, LLC
St. Louis, Missouri, 63110
ISBN: 978-0-9814542-8-3
www.ObliviousInvestor.com
For you, the reader, so that you can get the benefits you deserve from the system youve spent so many years paying into.
In cartoons and comics, a light bulb is often used to signify a moment of clarity or sudden understandingan aha! moment. My hope is that the books in the in 100 Pages or Less series can help readers achieve clarity and understanding of topics that are often considered complex and confusinghence the light bulb.
This text is intended to be an introduction to some of the Social Security topics that are most likely to play a role in your retirement planning. It is not, however, intended to be a substitute for personalized advice from a professional advisor. The author will make his best effort to keep the information current and accurate; however, given the ever-changing nature of the subject matter, no guarantee can be made as to the accuracy of the information contained within.
The text includes information about some of the tax consequences of Social Security benefits. While nothing contained within should be construed as tax advice, any tax-related information is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing, or recommending to another party any transaction or matter addressed in this book.
As the author of this book, Im very interested to hear your thoughts. If you find the book helpful, please let me know! Alternatively, if you have any suggestions of ways to make the book better, Im eager to hear that, too.
Finally, if youre unsatisfied with your purchase for any reason, let me know, and Ill be happy to provide you with a refund of the current list price of the book (limited to one refund per household).
You can reach me at: .
Best Regards,
Mike Piper, CPA
Part One
Social Security Basics
Part Two
Rules for Less Common Situations
Part Three
Social Security Planning:
When to Claim Benefits
Part Four
Other Related Planning Topics
INTRODUCTION
According to the Social Security Administration, as of 2012, Social Security benefits make up approximately 39% of the income of U.S. citizens age 65 or older. Unfortunately, its common for retirees to make decisions regarding their Social Security benefits that cause them to miss out on tens of thousands of dollars (or sometimes even hundreds of thousands of dollars) over the course of their retirement.
Assuming that you anticipate Social Security benefits playing a meaningful role in your retirement finances, its important for you to understand how the system works and what you can do to get the most out of your benefits.
This book is organized into four sections. Part 1 covers the basic rules: how retirement benefits are calculated, how spousal benefits are calculated, and how widow(er) benefits are calculated. Part 2 takes a look at the rules for a handful of slightly less common situationswhen you or your spouse have a pension from government work, for instance. Part 3 discusses the question of when to start taking Social Security benefits and provides a few strategies for getting the most out of your benefits. Part 4 covers some related planning topics such as tax planning opportunities that arise as a result of the unique way in which Social Security benefits are taxed.
When Social Security was first created, it covered a much smaller group of workers; it did not provide for spousal benefits or widow(er) benefits; it did not allow for retirement benefits prior to age 65; and benefits werent subject to federal income tax at all. In other words, Social Security originally looked quite different than it looks today.
Similarly, its likely that the Social Security system will continue to evolve in the future. Of course, theres no way to know when the rules will change, for whom they will change, or what those changes will be. So, for lack of any other reasonable option, this book is written based on the rules as they stand now.
If, however, youre working on your retirement plan and youre intent on making some sort of downward adjustment to your projected Social Security benefits to account for the programs financial troubles, the 2012 Social Security Trustees Report may be of use. The report projected that there will be sufficient funds to cover 100% of benefits promised under the current system up until 2033, at which point there will only be enough money to pay for approximately 75% of projected benefits. Does that mean that benefits will go unchanged for the next twenty years, then drop across the board, all at once, by 25%? Probably not. What actually will happen? Your guess is as good as mine.
As with the other books in the in 100 Pages or Less series, the goal of this book is a modest one: to provide an introduction to the aspects of Social Security that are most likely to factor into your retirement planning. In other words, this book is not intended to turn you into a Social Security expert. Nor is it intended to serve as a 100%-comprehensive guide to every aspect of Social Security.
PART ONE
CHAPTER ONE
To qualify for Social Security retirement benefits, you must:
- Be age 62 or older, and
- Have earned 40 Social Security credits over the course of your career.
The first month for which you can receive a benefit payment is the first month in which you are age 62 for the entire month. This means that, for most people, the first month for which you can receive benefits is the month after the month including your 62nd birthday. If, however, your 62nd birthday is on the first or second day of the month, you are considered to be age 62 for that entire month.
Social Security credits are earned by working at a job where you pay Social Security taxes or by earning money from self-employment. The amount of earnings needed to earn a credit is adjusted each year in keeping with wage inflation. For 2012, you receive one credit for each $1,130 of covered income that you earn during the year.
Credits are sometimes called quarters of coverage because you can earn a maximum of four per year. To earn four credits in a given year, however, you do not actually have to work in each of the four calendar quarters. For instance, if you earned $4,520 in January of 2012 and did not work for the rest of the year, you would still earn four credits for the year.
Font size:
Interval:
Bookmark:
Similar books «Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less»
Look at similar books to Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less. We have selected literature similar in name and meaning in the hope of providing readers with more options to find new, interesting, not yet read works.
Discussion, reviews of the book Social security made simple : social security retirement benefits and related planning topics explained in 100 pages or less and just readers' own opinions. Leave your comments, write what you think about the work, its meaning or the main characters. Specify what exactly you liked and what you didn't like, and why you think so.