Range of Benefits

Dmitri, a $66$ years old worker, is deciding between retirement either this year or the next year. His average monthly benefit is determined to be

$$2,323\mathrm{.}25.$ Assume that the benefit is the same for this year and the next year.

Compute Dmitri's annual benefit reduction amounts in each of the following scenarios.

If Dmitri retires this year and secures a part$-$time job earning $$17,000,$ his annual benefit reduction amount is

If Dmitri retires this year, secures the same part$-$time job, and in addition projects interest and dividend earnings of $$7,000$ per year, what his

annual benefit reduction amount is

If Dmitri retires next year and secures the same part$-$time job, the annual benefit reduction amount is

Taxes on Benefits

Social Security is paid in with after$-$tax dollars but may be subject to tax if annual income exceeds a base amount. A single taxpayer's base is

$$25,000.$ Married taxpayers filing jointly have a base of $$32,000.$ Married taxpayers filing separately have a base of

Suppose Jake is retiring this year at age $67.$ The following table shows his data.