Health Insurance, Pension Benefit and Taxes

Financial Implications of Working in Later Life

Money Talk

AUGUST 16, 2023

Higher Social Security Benefit - This can occur three ways: 1. higher benefits payable at older ages due to delayed retirement credits, 2. Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly).

Taxes

Taxes Pension Deductible Deductions

Planning Ahead for Widowhood: Changed Income and Expenses

Money Talk

SEPTEMBER 12, 2024

If the husband dies first, the wife is left with $1,250 (50% of husband’s pension), $800-wife’s pension, and $2,000 (highest Social Security) for income of $4,050 ($48,600 annually). This is a 40% “haircut,” which some couples cover with spousal gifts, annuities, and/or life insurance.

Pension

Pension Pension Benefit Taxes Entertainment

Comp and Benefits Today

Financial Implications of Working in Later Life

Planning Ahead for Widowhood: Changed Income and Expenses

Webinars

Stay Connected