Social Security Snapshot

Virginia

If you’re planning on retiring in Virginia, the state’s rich history gives it plenty of attractions to keep retirees busy. Stretching from the Blue Ridge Mountains across the Chesapeake Bay to the Atlantic coast, you can enjoy sandy beaches, one of the state’s 400 golf courses and a hike in the mountains – all in one weekend. Whether you want to settle in a big city, the suburbs or a small town, Virginia has lifestyle options to accommodate every preference. To make the most of your retirement years in Virginia, your first step is to get all of the retirement benefits you’re entitled to. That’s why enlisting the services of a Social Security Advisor who is a Registered Social Security Analyst is one of the best moves you can make.

Social Security for Virginia retirees — here’s what you can expect:

  • Retirement benefits
  • Benefits for disabled workers and their dependents
  • Benefits to the families of deceased workers

You may also be entitled to:

  • Supplemental Security Income program (SSI) – a needs-based program for people ages 65+ and people with disabilities, regardless of age.
  • Assistance if you are a Medicare beneficiary with limited income to apply for extra help with the cost of prescription drugs (Medicare Prescription Drug Program.)

Social Security: It’s tax free in Virginia

While the IRS may tax you on up to 85% of on Social Security benefits, all Social Security income is tax-free on your Virginia state income tax return —regardless of income or the size of your Social Security benefit.

What you need to know as a VIrginia retiree:

  • Virginia is tax friendly toward retirees
  • Withdrawals from retirement accounts are partially taxed
  • Wages are taxed at the normal rates
  • Public and private pension incomes are partially taxed
  • Property and sales tax rates are low.

Find a Social Security Advisor that has the RSSA credential.

If you’re planning for retirement in Virginia, advisors who are Registered Social Security Analysts can help you gain far more Social Security income by making the optimal claiming decisions. Our clients have realized from $20K to $200K in potential additional benefits. Contact us today for a complimentary 15-minute consultation with one of our RSSA advisors.

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