Understanding the Impact of Unusual Social Security Rules on Your Retirement Income
Impact of Unusual Social Security Rules
Social Security has some unusual rules you need to know about that will impact the income that comes from the benefits program.
35 Years Rule
Your Social Security benefit is based on the 35 years you made the most money, which could result in smaller checks if you have $0 wage years or eliminate some lower-earning years if you worked more than 35 years.
Threshold for Benefits Tax
Social Security taxes benefits once your income exceeds specific thresholds, but these limits are not adjusted for inflation, potentially leading to unexpected taxes for retirees.
Understanding these rules is crucial to secure your retirement income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.