The maximum Social Security benefit at age 70 will be about $5,108 per month. While earning almost $61,000 per year from Social Security may sound fantastic, if you qualify for the maximum Social Security benefit, this is likely only replacing a small portion of your pre-retirement income....
The Bottom Line Social Security benefits are a form of retirement income. They're meant to replace only a portion of your pre-retirement earnings. The monthly benefit that you will receive is based on the total amount of money you earn during your time in the workforce. You can start ...
Self-Employment Income:you may be able to deduct business related expenses and your home office and can contribute a portion of your income toself-employment retirement accounts, such as asolo 401K,SIMPLE IRA, orSEP IRA. Backdoor Roth IRA:if your income is over the Traditional and Roth IRA ...