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Social Security provides a guaranteed source of income in retirement, but what many don't realize is that you're not guaranteed to keep it all. Some retirees owe taxes on their Social Security benefits, but it all depends on your income. Here's a closer look at how your retirement fund withdrawals play into all of this.
When we think about when to file for Social Security, age 68 doesn't often come to mind. After all, it's not a particularly notable age on the spectrum of when to claim benefits.
After a lifetime of hard work, you’ve earned your retirement—and all the benefits that come with it, including Social Security. But if you’re retiring before your full retirement age and have other sources of retirement income, you may want to put off applying for your Social Security benefits. Here’s why.
  | Retirement

8 changes to Social Security in 2018

For 2018, the basic structure of Social Security is the same in terms of how workers are taxed and how benefits are calculated and paid.
Nobody likes to pay taxes, but it's especially hard for older Americans to deal with an unexpected tax bill. Given how many people live primarily on fixed incomes from Social Security and other sources, many don't have much extra cash to pay any more than absolutely necessary to the IRS.

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