What would you like to do?

Can you contribute to your IRA if you are drawing social security?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

You can contribute to an IRA if you are not yet 70 1/2 and have some source of W-2 / 1099 self employment income. Social security payments are NOT considered income that can be used to contribute to an IRA.
14 people found this useful
Thanks for the feedback!

What is the difference between an IRA and Social Security?

In simplest terms, it is a privately held retirement plan which rewards you for doing something that you should be doing anyway....saving for your old age. Social Security is

Can and how much can you draw from IRA and not affect Social Security disability?

Yes, you can draw from your IRA without affecting your Social Security disability benefits. The Social Security Administration only considers earned income and certain governm

Can you draw social security disability if you are already on social security?

No. Someone cannot receive both Social Security retirement anddisability benefits at the same time. Social Security DisabilityInsurance provides monthly benefits to individual

How much social security will I draw?

If you mean how much you will draw monthly, it depends on your income prior to retirement. There isn't a way to give a specific answer with only that information. You could tr

Can you deposit social security benefits into an IRA?

Social security benefits is not qualifying earned income that you can use to contribute to a IRA account. There are three categories of qualifying income that can be used to m

What is the minimum contribution to social security?

For an employee with an employer withholding the 6.2% the employee minimum contribution amount would also be 6.25% of the gross wages (earnings) 10 X .0625 = .63 100 X .0625 =
In Uncategorized

Do employers contribute to social security?

They do in the UK. Employers pay National Insurance contributions -in addition to the contributions deducted from employees pay.