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Georgia Retirement Income Exclusion Worksheet Form

Georgia Retirement Income Exclusion Worksheet Form

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Instructions and help about Georgia Retirement Income Exclusion Worksheet

hey there I'm Jared with Jord safe retirement planners today we're going over a common question we get can I retire on a pension and social security retiring with just these two income sources is possible but there are a few key things to keep in mind to see if it'll truly cover your needs and goals in retirement let's dive in and break it down so first things first let's understand the numbers here in Georgia the average social security benefit is about 1 $97 per month on top of that pensions vary widely depending on factors like your employer years of service and other details specific to your plan if you're fortunate enough to receive both Social Security and a pension a good place to start is by adding up your total expected monthly income here's an example to illustrate now is 5,000 $47 per month enough to retire well it depends the real question is whether this amount will be enough to cover your monthly expenses and support

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