#new-york-retirees

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#senior-deduction #social-security-taxation #obbba #cola #social-security #retirement-affordability
US politics
fromSFGATE
2 weeks ago

3.3 Million Retirees in New York Qualify for the 'Senior Deduction' Under Big, Beautiful Bill

New York retirees will receive a Senior Deduction beginning 2025, reducing federal tax on Social Security and increasing after-tax retirement income.
fromSFGATE
4 months ago

You'll Struggle To Live Well in New York on Just Your Social Security, Even If Your Mortgage Is Paid Off

Retirees in New York face one of the steepest financial gaps in the nation when relying solely on Social Security. According to a Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index, the typical retiree in New York experiences an annual shortfall of $7,248, or about $604 per month, even with their mortgage fully paid.
Real estate
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