I’m 64 and still working. My company is letting me turn on pension a few months early. It’s only a few hundred dollars a month, but still … I don’t plan to retire for a few more years but inflation is killing me. I’m going to turn on a second small pension next year when I turn 65. My question is: Is it better to have the taxes taken out of the pensions or just change my withholding at work to single 0 or keep it as single 1? I can’t afford to see a tax attorney, accountant or financial planner. And payroll wouldn’t give me an idea of how much difference single 1 vs single 0 would be on my paycheck. Thanks.
