The Sneaky Reason You Might Lose a Chunk of Your Social Security Income
Social Security is an important income source for many seniors -- including those who do have additional income streams at their disposal in retirement. Say you manage to amass a decent-sized nest egg. Your savings might provide you with, say, $20,000 of income a year. If you're used to living on a lot more, Social Security can help pick up the slack.
But many seniors are shocked to learn that they're not entitled to their Social Security income in full. That's because even low to moderate earners are subject to having their benefits taxed at the federal level. And if that happens to you, it'll cause your Social Security paycheck to shrink.
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Source Fool.com
