Will Your Social Security Benefits Be Less Depending on Where You Live?

Once you reach 62, you can apply for the Social Security benefits you have worked for for many years. Shutterstock

Once you reach 62, you can apply for the Social Security benefits you have worked for for many years. By using a Social Security benefits calculator, you may have already figured out how much you can expect to get each month once you retire.

If you depend on these benefits to be a significant part of your retirement income, you need to know that you may get less than you think. There are nine states that tax Social Security benefits, meaning you will get less if you live in one of them.

The Government’s Tax on Your Benefits

Before the states can tax your benefits, you may discover that the federal government could also take a chunk of them. Besides the taxes, once you apply for Social Security, if you are younger than your full retirement age, you are limited as to how much income you can make.