If you\u2019re on Social Security you\nprobably want to know what\u2019s going on this year. The most relevant change to most people is\nthe cost-of-living increase of 2.8% to benefits.<\/p>\n\n\n\n
There are other changes though, so\nlet\u2019s go through them.<\/p>\n\n\n\n
The Social Security tax ceiling:<\/strong> In 2019, income up to $132,900 will be subject to Social Security taxes.\u00a0 That\u2019s a $4,500 increase from 2018.\u00a0 That means the maximum amount for a person is $8239.80.<\/p>\n\n\n\n Retirement earning cutoff:<\/strong> This year, retirees under the full retirement age can earn up to $17,640 before their Social Security benefits will be reduced.\u00a0 If you\u2019re past retirement age, then you can earn up to $46,920 before benefits begin to be reduced.<\/p>\n\n\n\n Average benefit: <\/strong>The average monthly benefit is estimated to be $1,461 throughout 2019 for all retired workers.\u00a0 This is an increase of $39 per month.\u00a0 Of course, averages are tricky and this may not reflect your situation.<\/p>\n\n\n\n Tax rates: <\/strong>The Social Security and Medicare tax rates aren\u2019t changing between 2018 and 2019.\u00a0 It\u2019s 7.65% for employees and 15.30% for the self-employed.<\/p>\n\n\n\n If you need help planning out your\nretirement, including your Social Security benefits, we can help you with\nthat. Let us know.<\/p>\n","protected":false},"excerpt":{"rendered":" If you\u2019re on Social Security you probably want to know what\u2019s going on this year. The most relevant change to most people is the cost-of-living increase of 2.8% to benefits. There are other changes though, so let\u2019s go through them. The Social Security tax ceiling: In 2019, income up to $132,900 will be subject to […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,10,12],"tags":[],"acf":[],"yoast_head":"\n