my younger brother is talking of taking me there to live in 6 months. I'm wondering what is the typical paycheck for those on Social Security there?Does anyone know?
2007-05-08 16:28:23 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
States have absolutely nothing to do with Social Security. It is a Federal program. If you are currently receiving Social Security payments as of right now, those will not change.
2007-05-08 16:44:25 · answer #1 · answered by adashiver 2 · 0⤊ 0⤋
in a way the state you live in can have an effect on social security. If you live in and work in a high cost of living area all your working years, you'd make more money and therefore be getting more social security at retirement time than if you lived in a much lower cost of living area all your working years. Some areas of the country have higher wages for doing the job ,, some parts of the country pay is less for same job,, but cost of living in those two areas offset income.
But after retirement, it makes no difference were a person lives, they would draw according to what they paid in.
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If a person is retired and already drawing social security the benefits are the same no matter what state they live in.
BUT
as an example,, a person that works for McDonalds flips burgers all their life in NYC vs a person same age and sex same job that works for McDonalds in small town Arkansas. The person that lived and worked in NYC all their life has made more money than the person that lived in Arkansas, so therefore the person from NYC would get more social security than the person from Arkansas.
2007-05-08 16:45:05 · answer #2 · answered by Jo Blo 6 · 0⤊ 0⤋
Your Social Security benefits are determined by the federal government and not affected by where you live. However, I don't know if this is true in every state, but Social Security is not subject to income tax in Oregon.
2007-05-13 18:49:08 · answer #3 · answered by Amy F 3 · 0⤊ 0⤋
The state where you live makes no difference. Social security payments are based on your earnings history, and the age when you start collecting. If you're getting benefits now, the amount wouldn't change if you move to Oregon.
2007-05-09 02:18:34 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
As others have said, it makes no difference where you live. If you are not yet getting benefits, you should be getting an annual statement from Social Security that estimates how much you will get at retirement.
2007-05-08 19:36:52 · answer #5 · answered by Franklin 5 · 0⤊ 0⤋
Your SS benefit won't change. SS is not a needs based entitlement. It's based solely upon your lifetime earnings record. Where you live has no affect on your benefit what so ever.
2007-05-08 21:42:14 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I don't think the state you're in affects it. It's a function of how much you made and paid taxes on while you were paying in.
http://www.ssa.gov/pubs/10070.html
2007-05-08 16:34:03 · answer #7 · answered by dWj 1 · 0⤊ 0⤋