hello from Minnesota, questions about getting old and wrinkly

P

pasinato

New Member
Hi everybody

my and my wife are trying to understand if we`ll have enough money in few years, we are 60 but she looks younger ;-))

We are still confused about taxation of SSI, and I cannot locate a specific thread in the forum

Is her PERA going to be heavily taxed, if our SSI combined is over $44k a year?

thanks for your help

Steve and Teresa
 

pasinato said:
Hi everybodymy and my wife are trying to understand if we`ll have enough money in few years, we are 60 but she looks younger ;-))

We are still confused about taxation of SSI, and I cannot locate a specific thread in the forumIs her PERA going to be heavily taxed, if our SSI combined is over $44k a year? thanks for your help Steve and Teresa
Click to expand...

Search on "Income Tax Brackets", and "Income Tax Calculator". Using these sites allows you to enter your numbers and get a pretty good idea of what your Tax situation will look like in retirement. SS is considered taxable income when your net income is above a certain level. Some state do not tax SS, but you will have to check on your state to find out. Here's a couple of sites to get you started.....

https://www.bankrate.com/finance/taxes/tax-brackets.aspx

https://www.calculator.net/tax-calculator.html

There are dozens more in the Internet.......
 

I don't know anything about tax codes, but I'd like to extend a warm MN welcome to the group!

200w.webp
 
Don M. said:
Search on "Income Tax Brackets", and "Income Tax Calculator". Using these sites allows you to enter your numbers and get a pretty good idea of what your Tax situation will look like in retirement. SS is considered taxable income when your net income is above a certain level. Some state do not tax SS, but you will have to check on your state to find out. Here's a couple of sites to get you started.....

https://www.bankrate.com/finance/taxes/tax-brackets.aspx

https://www.calculator.net/tax-calculator.html

There are dozens more in the Internet.......
Click to expand...



thanks to everybody!!!!!
 
I AM old and wrinkly. I have just lost the love love my life, my wife of 47 years. At 82 I am as lost as a child. My only advice is do what seems to be right for you and ride out what follows as best as you can. Remember, NOTHING IS FOREVER. Good luck...
 

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