For many seniors, relocating is one of the main goals of retirement. This usually sees empty nesters sell their home and set off for a new destination.
But could this sale actually impact your Social Security payments? The answer is yes — even though some people would never think these two topics would be connected.
It all pertains to how the sale impacts your income level, and applicable taxes. This could push you into higher brackets, resulting in more being taken from you. It could also cause you to lose out on eligibility for certain programs.
Are you selling your home? Make sure to consult a financial expert. And be sure to pick one that is familiar with Social Security and retirement income.