The Big, Beautiful Series: Social Security Not Taxed?? | Diy Money Video
In this episode of DIY Money, we wrap up our Big Beautiful Bill series with one of the most misunderstood updates: how Social Security is taxed under the new legislation.
Confused by the headlines claiming “no more tax on Social Security”? We explain what’s actually happening — and what it means for your retirement planning.
Here’s what you’ll learn 👇
💡 How Social Security is taxed today and why it’s not as simple as 0%, 50%, or 85%
🧾 What the new deduction means for seniors — and who qualifies
📉 Why many retirees may pay less tax (but not zero)
🚫 Who is phased out based on income levels
🛑 Why you shouldn’t rush to adjust withholdings before the IRS finalizes details
This is critical info for retirees, near-retirees, and anyone helping parents navigate this phase of life. It’s not about free money — it’s about understanding the new rules and planning ahead.
And remember, the secret to wealth is pretty simple: live on less than you make, invest the rest, and do so for a very long time. Make it a great one!
📬 Have a question? Send it in to [email protected] for a chance at a $25 Amazon gift card!
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DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
Quint Tatro, Daniel Czulno, CFP®, Logan Gilland, CFP®, and Allie Howard take a passionate look at everything money, including budgeting, savings, investing, stocks, bonds, debt, and more. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, and BiggerPockets, it’s worth a listen!
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⏱️ Timestamps:
00:00 Social Security Taxation Explained
04:56 New Rules and Deductions
8:54 Income Thresholds
12:02 Impact on Financial Planning
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📝 Disclosures:
*This show is for entertainment and educational purposes only, and is not intended as personal financial advice. Before making any financial decisions, please do your homework and consult a financial advisor as needed.
