davidperdew

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[davidperdew @davidperdew]

Use SSA's online tools to estimate your benefit at different claiming ages. Comparing 62 vs. 67 vs. 70 can reveal thousands of dollars in difference. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Before you claim SS, check your earnings record at https://t.co/F3QOvsJZzE. Errors in your record can reduce your benefit — and fixing them takes time. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Mistake: ignoring the earnings test. If you claim early and keep working above the annual limit, SSA will withhold part of your benefit. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Mistake: not coordinating your claim with your spouse's. For married couples, timing both claims strategically can significantly increase lifetime household income. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Mistake: assuming Social Security will cover all your retirement income. The program was designed as a floor, not a ceiling. Plan around it, not just for it. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

The most common SS mistake: claiming early without understanding the permanent reduction. Rushing this decision can cost thousands over a long retirement. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

The 1983 SS reforms raised the retirement age and made benefits partially taxable. Big changes have happened before. They can happen again. Plan accordingly. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

The "Social Security is going broke" headline has appeared every decade since the 1980s. Understanding the actual funding helps you tune out the noise. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Social Security is not going bankrupt. The trust funds face a projected shortfall — but the system continues collecting payroll taxes that fund a large share of benefits. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

A 3% annual COLA over 20 years roughly doubles the purchasing power of your benefit. COLA is one of Social Security's most valuable features — often taken for granted. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Social Security COLA is calculated using CPI-W — weighted toward urban wage earners. Some argue it doesn't reflect retiree spending patterns well. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

The taxation thresholds for SS benefits have never been adjusted for inflation. More retirees pay tax on benefits each year as incomes rise. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Strategic Roth conversions before you claim SS can reduce the taxable portion of your benefits in retirement. Tax planning and SS planning go together. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Up to 85% of your Social Security benefit can be subject to federal income tax depending on your total income. Taxes on benefits have existed since 1984. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

If your spouse claimed at a reduced rate due to early claiming, your survivor benefit may also be reduced. Most people don't know this until it's too late. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

For married couples, Social Security claiming strategy is a two-person decision. The timing of both claims can significantly affect lifetime household income. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Survivor benefits allow a widow or widower to claim the deceased spouse's benefit — if it's larger than their own. One of the most underused rules in Social Security. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

A spouse may be eligible for up to 50% of their partner's SS benefit at full retirement age. That rule has major retirement income implications for married couples. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Spousal benefits were not in the original 1935 Social Security Act. They were added later — a recognition that many married women had limited work histories. https://t.co/TQ5eyt2NQf #SocialSecurity

[davidperdew @davidperdew]

Social Security benefits may be taxable if your combined income exceeds certain thresholds. That rule has been in place since 1984. Plan accordingly. https://t.co/TQ5eyt2NQf #SocialSecurity