rocks911
Recycles dryer sheets
Hello,
A quick question. I am 62 and retired from the fire service. I draw a retirement check from the state that totals in the neighborhood 72K a year. I also draw on a 457 (the public version of the 401) which totals about 27K a year. I am married and the wife does not work. She is about to come into a modest inheritance (which I might rely on the slow the drawdown of my 457) but otherwise those two checks from my fire career are what we rely on.
I'm aware of the pro's and cons of early Social Security but the history of my family genes has me leaving earth early so by my calculations it might be best to take SS at my 1st opportunity.
I also do not work. So there are no 'wages' coming into our household. So what is my tax exposure from a SS check? How much
* after re-reading I thought my question might not be clear. I know that if you have a job while drawing Social Security your benefits are taxed (until you arrive at your full retirement age) and essentially what I need to know is if I start drawing SS would any of it be taxed if my only sources of income are other than 'work' and 'wages'
A quick question. I am 62 and retired from the fire service. I draw a retirement check from the state that totals in the neighborhood 72K a year. I also draw on a 457 (the public version of the 401) which totals about 27K a year. I am married and the wife does not work. She is about to come into a modest inheritance (which I might rely on the slow the drawdown of my 457) but otherwise those two checks from my fire career are what we rely on.
I'm aware of the pro's and cons of early Social Security but the history of my family genes has me leaving earth early so by my calculations it might be best to take SS at my 1st opportunity.
I also do not work. So there are no 'wages' coming into our household. So what is my tax exposure from a SS check? How much
* after re-reading I thought my question might not be clear. I know that if you have a job while drawing Social Security your benefits are taxed (until you arrive at your full retirement age) and essentially what I need to know is if I start drawing SS would any of it be taxed if my only sources of income are other than 'work' and 'wages'
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