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| Good morning, Daily Money readers! Josh Rivera here bringing you the top Money headlines. |
| Get this: You save for retirement but withdrawing that money as a senior could affect your Social Security income. It's unfair, if you ask me. And it has to do with what's known as your provisional income, which is calculated by taking 50% of your annual benefits and adding that sum to your remaining, non-Social Security income. |
| "You may be taxed on up to 50% of your benefits if your provisional income lands between $25,000 and $34,000 if you're single, or between $32,000 and $44,000 if you're married filing a joint tax return," explains Maurie Backman. |
| In unrelated news, if your holiday travel plans were canceled take advantage of the opportunity in disguise. "As a general rule, it's wise to have three to six months' worth of living expenses on hand in the bank, and given the economic climate today, I highly recommend sticking to the higher end of that range," says Backman. |
| And because we care about your money, USA TODAY Network columnist Susan Tompor went over some of the top scams this holiday season and how to protect yourself. Spoiler alert: Do not use the same password over and over again. |
| — Josh Rivera, Money & Tech NOW editor |
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