There are many mistakes that people make regarding pension. Most individuals have the misconception that one should only think of a retirement plan when they grow older says David Giertz on Crunchbase. Furthermore, most people do not know that their social security benefits are taxed. Yes, the government get a part of your benefits, it has income threshold for what is to be taxed. However, it is notable that no one pays tax more than 85% of their benefits at https://ideamensch.com/david-giertz/. If you take social security before you are retired and then continue working, you will be surprised to know that you may have to pay taxes on that income too.
In this case, the government takes $1 for every $2 you make above the annual limit according to bloomberg.com. The amount for 2016 was set at $15,720. When you reach your retirement age, any income you make is not held against you by the taxation authority; it gives you a chance to earn as much as you want. Most people start receiving their social security at 62 years due to lack of adequate funds and occurrence of unexpected life conditions on fundacity.com. Such conditions include medical ailments which have been said to prevent many people live as per their expectations after retirement.
About David Giertz
David Giertz is a known financial advisor who has worked for more than 30 years in the industry. He has worked with numerous organizations where he served in various capacities. David Giertz is a registered broker with FINRA; has worked with Nationwide Investment Services Corporation from 1999. Giertz was the senior vice president of nationwide financial distribution and sales at the company’s life insurance department from 2003. The insurance company is based in Dublin Ohio. Before he joined Nationwide, David Giertz served in Citicorp Investment services from 1991 to 1999. Previously he worked with Financial Horizons Security Corporation from 1989 to 1993.