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Social Security is taxable income for the IRS, however in the state of Pa. we don't pay tax on our retirement benefits. The Federal government needs to change this and toss out this tax. It is totally unfair, since we were taxed on this already over the years of working. When S.S. was first put into effect, it was stip...more
When you reach retirement after working all your life and raising a family, You are entitled to live as you wish!!!! If you want to spend money friviously and your monthly bills are paid, then just do it!!!! All the worry about saving is done!!! If you have a life ins. policy to cover death and Medicare w/supplement, ...more
We need revision badly in our tax system. This info is for everyone who is unaware. Retired, we did a rollover of 401k into an annuity. Reaching 65 and spouse needing a major surgery, cashed it in. Well, come tax time we were shocked!!! Retirees living on Social Security & a pension,we paid 25% to the irs!!!!!!! This...more
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