A Retirement Fact Sheet

Posted by Creekmur Staff on 11:45 AM on January 30, 2020

Some specifics about the "second act."

Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. 

Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to the Internal Revenue Service, 13 states currently levy taxes on some or all Social Security retirement benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. (West Virginia, incidentally, is phasing out such taxation.)1

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Topics: Wealth Management, Financial Planning, IRA, Retirement, Saving, Social Security, Tax on Social Security Income, Taxes in Retirment

When Is Social Security Income Taxable?

Posted by Creekmur Wealth Advisors on 11:21 AM on October 2, 2018

To find out, look closely at two factors.

Your Social Security income could be taxed. That may seem unfair or unfathomable. Regardless of how you feel about it, it is a possibility.

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Topics: charitable IRA gift, Claiming Social Security, Uncategorized, Financial Planning, RMD, Social Security income, Tax on Social Security Income

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