Step 1: Calculate Your Average Indexed Monthly Earnings (AIME) One important idea behind Social Security is that workers can keep earning benefits for every dollar they pay into the retirement system for as long as they keep working.3 A nonworking spouse qualifies for half of the working spou...
How to Claim Social Security Without Shortchanging Your SpouseDeciding when to take Social Security can have a big impact on your family's income. Here's what you need to know.Philip Moeller
Beth Pinsker gave pointers on how to calculate the RMD and what to think about when deciding which investments to part with. More from Beth Pinsker: Single cat ladies may be saving the world, one estate plan at a time How to see what Warren Buffett and other money managers are do...
Use this online calculator to see how much of your Social Security benefits is taxable and how much of it is tax-free.
How to calculate Social Security benefits Calculating monthly Social Security benefits involves applying a formula to the Average Indexed Monthly Earnings (AIME). This formula considers the AIME and the retirement age to determine the primary insurance amount, representing the essential benefit that would...
Instances when you may want to claim your benefits sooner include if your health is failing or if you want your spouse to have the ability to start taking spousal benefits. Social Security After Retirement You can continue to work and claim retirement benefits, but your benefits will be reduced...
If you are currently on Social Security disability insurance (SSDI), your children and spouse may be eligible for auxiliary benefits. Auxiliary Social Security benefits are paid out to children and spouses in the event that one parent or spouse becomes d
The Social Security tax is calculated as 6.2% of your earnings, and the Medicare tax is calculated as 1.45% of your earnings. Before you’ve even begun to pay your income taxes, 7.65% of your income has been withheld. Your refund is determined by comparing your total income tax to the ...
If your spouse is doing something behind your back, there is almost certain to be evidence of their activities on their phone. Even when a spouse is very careful to not leave anything incriminating laying around, their phone can still tell you their location and even let you listen to their...
If you’re single, this is pretty easy. If you’remarried filing jointlyand both of you work, calculate your spouse’s tax withholding too.In this example, we’ll assume your spouse has $400 withheld each pay period and receives a monthly paycheck. ...