Social Security is affected by income you receive during retirement. There are ways to maximize your retirement income looking at when to draw on your Social Security versus using your 401(k). What really comes into question is how is the taxation of your retirement funds going to cut into your potential income.
Working with a professional who has specific knowledge in the Social Security Income system is a must. First I would recommend going to the Social Security website, set up a free account for yourself, and see what your estimated benefit is going to be. From there you can plan the best way to start using your retirement monies, keeping the tax liability to a minimum and to maximize the potential income you have available.
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Working with a professional who has specific knowledge in the Social Security Income system is a must. First I would recommend going to the Social Security website, set up a free account for yourself, and see what your estimated benefit is going to be. From there you can plan the best way to start using your retirement monies, keeping the tax liability to a minimum and to maximize the potential income you have available.