In this video, Colin Exelby, CFP® breaks down how social security is taxed and he provides three specific examples of social security taxation in retirement.

Want to know if your Social Security benefits will be taxed? In this video, I break down the government's complex formula that determines how much—if any—of your Social Security is taxable. While some retirees pay taxes on up to 85% of their benefits, others pay nothing at all. And it’s not just the wealthy getting hit—nearly 40% of Americans are taxed on their Social Security, and that number is rising. I’ll walk you through three real-world scenarios so you can see exactly how it works and what you can do to reduce your tax burden. Don't get caught off guard—watch now to learn how to keep more of your hard-earned money!

#SocialSecurity #RetirementPlanning #Taxes #FinancialFreedom #MoneyMatters #PersonalFinance #TaxTips #WealthBuilding #RetirementIncome #financetips

00:00-Intro

02:20-Misconception About Social Security Taxation

03:37-Understanding Provisional Income

04:37-How Social Security Taxation is Calculated

07:00-Examples of Social Security Taxation

07:15-Scenario 1: Social Security as Only Income

08:49-Scenario 2: Social Security Plus Retirement Withdrawals

11:04-Scenario 3: High Income Retirees

13:30-The Myth of Fixed Taxes

14:40-Strategies to Minimize SS Taxes

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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.

I provide financial planning for business owners and their families that makes sense.

Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.

We strive to help you:

*Optimize Your Cash Flow

*Minimize Your Taxes

*Build Your Net Worth

*Create a Lasting Legacy

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