Showing posts with label Social security. Show all posts
Showing posts with label Social security. Show all posts

Protecting Survivorship Benefits

Have you considered what you would like to do in retirement? Most people leave their full-time jobs and move into a phase of life that is focused on relaxation, fulfillment, and leisure time.  

They often depend on retirement savings, pensions, and Social Security benefits to keep them financially stable. Most want to maintain their standard of living, include more travel, and do things they could not while they were working. Family time and quality relationships often become more important with many choosing to stay busy by doing volunteer work or going back to school. 

These were likely the same goals Bruce and Anne Freidman, a Brooklyn couple, had for their golden years. However, things did not quite work out that way for them. 

Will owning Bitcoin disqualify you from receiving government benefits?

Some years back I wrote an article about Crowdfunding, and how funds raised can count towards your gross income.

"Crowdfunding sites generally use a payment processor like PayPal to handle the donations, and PayPal is responsible for reporting information to the IRS on payments of $20,000 or more made up of 200 or more transactions, which creates a 1099-K form. If you earn other income through PayPal, perhaps from an online business, that income could be combined with your crowdfunded money to create a bit of a financial mess.