Ask Larry

Benefit Amount

How Much Will My Remaining Children Be Paid When My Oldest Child Turns 18?

My 3 children receive 846 per child my oldest Turing 18 so how much will tha remaing to get

Hi. The answer to your question depends on a) the primary insurance amount (PIA) of the worker on whose record the children collect benefits, b) the family maximum benefit (FMB) amount that can be paid on the worker's record, c) whether or not the worker is living or deceased, and d) whether or not any other children or surviving spouses will be eligible for benefits on the worker's record.

Posted: 
Wednesday, May 24, 2023 - 21:45

How Will Social Security Calculate My New Monthly Benefit?

I accidentally applied for benefits at age 65 instead of at 66 or my FRA. When I realized my mistake, I had already received several months of benefits. On the day I turned 66, on September 6 to be exact, I sent a letter to suspend my benefits which they received in December. Therefore, I received a total of 10 months of benefits instead of 7 if they had suspended my benefits the month after I made my request. I should be resuming benefits this coming September when I turn 70. How will they calculate my new monthly benefit?

Posted: 
Sunday, April 30, 2023 - 18:22

Are Social Security's Online Estimates Incorrect?

I am very very much a numbers guy and think I have uncovered a SERIOUS flaw in the social security calculator on MY SocialSecurity.com. My numbers prior to full retirement look correct, FRA looks correct, age 70 looks correct, but the numbers it is projecting for age 67, 68, 69 are flat wrong. If you go into system and key in something like age 66 and 6 months and then 67 and 1 month, it projects the same amount. It is not changing on a monthly basis. this can impact peoples decisions.

Posted: 
Saturday, April 29, 2023 - 21:29

Is The PIA A Static Number?

Please answer two questions that likely have been answered, perhaps in many places, but are not clear to me:

I will be 69 in August, and am thinking of filing for benefits beginning then. My wife of 40 years is 65, and will be at her FRA of 66-1/2 in June, 2024.

I currently have delayed benefits, including COLA additions, that are greater than what my PIA was, or would have been on the day of my FRA when I turned 66.

Posted: 
Wednesday, April 19, 2023 - 10:47

What Percent Of Spousal Benefits Will My Wife Receive?

if my wife chooses to receive her own social security benefits 57 months before her full retirement age. Her own benefit will be 71.25 percent of her primary insurance amount. What percent of spousal benefit will she receive when me, the higher earning spouse retires?

Will it be 50% of my benefit, or 50% minus of mine minus the reduction based on her date of filing for her own?

Posted: 
Thursday, March 30, 2023 - 17:48

If Some Of My Survivor Benefits Are Withheld Due To My Earnings Will They Be Repaid In Any Way If I Later Switch To My Own Benefits?

If I am collecting survivor benefits and some are withheld due to my working, when I switch to my own benefits at or after my FRA, will the withheld benefits be repaid in any way?
I know they are if I stay on survivor benefits.
Thanks much

Posted: 
Monday, March 27, 2023 - 17:22

If I Don't Return To Work Will I Still Get My Projected Age 70 Rate?

I suffered a work injury in a fall! I’m 68 years old! I am not collecting social security yet, trying to wait to age 70! If I don’t return to work, do I still get my projected amount at age 70 or do I get what I’m projected at right now? Also my wife is disabled and getting $766 a month now! Would she still get 50 percent of my amount once I apply?

Posted: 
Tuesday, March 21, 2023 - 12:34
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.