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Benefit

If your combined income while filing single is below $25,000, the benefit is not taxed. If it is between $25,000 and $34,000, half of the benefit is taxed as ordinary income. Above $34,000, 85% of the benefit is taxable. If you’re filing jointly, the same income limits are $32,000 and $44,000.

  • Updated

New research gives important guidance on how to stretch your retirement dollars the furthest: In your 60s, lean on a “bridge” of withdrawals from your 401(k) and don’t start claiming Social Security until you turn 70.

  • Updated

If you register at the Social Security website you can get an estimate of your Social Security benefits if you were to claim at 62, at your full retirement age or at age 70. Then you can decide if you want to withdraw your FRA amount (or less) from your 401(k) so you wait to claim Social Security as long as possible.

  • Updated

The CRR researchers created a model using household survey data from 2016 that showed 65-year-old single men who had 401(k) savings had a median account value of $106,000 and were eligible for an annual Social Security benefit around $15,400. Women with 401(k) savings had a median account value of $110,000 and were eligible for an annual Social Security payout of around $14,500.

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