Symphony Financial Services
Rick Willoughby, AWMA®, AAMS®

Life Events


Every stage of life has its own financial needs and concerns. The life events on this page can help you target the key financial strategies and issues that are likely to be most important to you in this stage of your life.

Starting Out    Changing Jobs    Coping with Unemployment    Getting Married    Starting a Family    Buying a Home    Saving for College    Starting a Business    Planning for Retirement    Managing College Expenses    Long-Term Care Planning    Planning an Estate    Planning for Business Succession    Nearing Retirement/Retirement    Caring for an Aging Parent    Loss of Spouse    Financial Windfall    Getting Divorced   


 
How Earnings Affect Social Security
How Earnings Affect Social Security

If you begin to receive Social Security retirement (or survivor's) benefits before you reach full retirement age, money you earn over a certain limit will reduce the amount of your Social Security benefit. In 2012, your benefit will be reduced by $1 for every $2 of earnings in excess of $14,640.*

The chart below shows the effect of annual earnings of $10,000, $20,000 and $30,000 on a $12,000 annual Social Security benefit ($1,000 monthly) for someone who hasn't yet reached full retirement age.

How Earnings Affect Social Security

Source: Social Security Administration, 2011

*Special rules apply in both the year you reach full retirement age and the year you retire if you have not reached full retirement age.



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Rick Willoughby is a Registered Principal, Brice Willoughby is a Registered Representative both offering securities through Independent Financial Group, LLC, a registered broker-dealer. Rick Willoughby offers advisory services through Independent Financial Group, LLC, a registered broker-dealer and investment advisor.  Member FINRA and SIPC. Independent Financial Group, LLC and Symphony Financial Services, LLC are not affiliated. 15022 S 40th Pl Phoenix, AZ 85044  Mutual funds and Variable insurance are sold by prospectus only and not available in all states. For complete information on sales charges, expenses and risks read all prospectuses carefully before investing. This does not represent the performance of any investment, past or present nor does it reflect surrender charges or possible tax penalties which would lower performance. 529 Plans are subject to fees and expenses. and a plan outside of your state may result in the loss of state tax benefits. Withdrawals made for any  reason except education expenses may be subject to state and federal income tax and a  10% federal tax penalty. Tax-deferred accumulations may be subject to ordinary income taxes. Early withdrawals may be subject to surrender charges and a 10% federal income tax penalty. Licensed to sell securities in AZ, CA, GA, NV, OR,TN and WA. This material was created by Forefield to provide basic information on the subjects covered.  The services of a tax, legal or financial professional should be sought regarding your individual situation and what investments are appropriate for you. For tax information go to www.irs.gov .



This communication is strictly intended for individuals residing in the state(s) of AZ, CO, GA, TN and WA. No offers may be made or accepted from any resident outside the specific states referenced.