Is Your State Coming for Your Social Security Checks?
There's a good chance Social Security will end up being an important source of income for you once you retire. Even if you manage to accumulate a nice nest egg, you never know if your savings might erode due to factors like stock market downturns and inflation. The good thing about Social Security is that once you file for benefits, you're guaranteed a certain monthly payday for life. It's not like your benefits are going to shrink because the stock market underperforms one year.
But one thing many seniors don't realize is that Social Security can be taxable in certain situations. If you earn too much money as a retiree, the federal government might tax a portion of your benefits.
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Source Fool.com
