Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 1 - 10 of 8123 questions.

Must I Take The Higher Benefit From My Own Earnings When I Reach Age 70?

Must I take higher benefit from soc. Sec. When I turn 70 from my own earnings vs my late husbands?

Hi. No. I don't know anything about your specific benefit options, but if you're collecting survivor benefits there's no requirement that you ever must apply for your own benefits. However, if your own Social Security retirement benefit rate will be higher than your survivor rate when you reach age 70, I can't imagine what reason you'd have for not claiming the higher benefit. Delayed retirement credits (DRC) can't be accumulated starting with the month you . . . Read More

Category: Filing Options
Posted: Sep 18 2021 - 10:03am

How Will The January 2022 Cost Of Living Adjustment Affect Me?

How will the January 2022 social security cost of living adjustment affect me? I will be 65 in March 2022, still working not collecting benefits.
Thank you, Kevin

Hi. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to a their Social Security retirement benefit rate whether or not they are drawing benefits. So, the short answer is that you'll be credited with the COLA increase that's expected next January even if you delay drawing your benefits.

You may want to strongly consider using our . . . Read More

Category: Cost Of Living Increases
Posted: Sep 18 2021 - 9:58am

Can You Explain Why My Claim For Spousal Benefits Was Denied?

Hi -I was denied spousal benefits and am not sure why. Firstly my spouse has been collecting SS since 3 plus years. Secondly we have been married 38 plus years and I sent my original document of proof, to them also. Thirdly I meet the min. age requirement as I was born 07/1955.
I applied at my full retirement age of 66 and 2 months.
I am a dual citizen of Canada and U.S.A and we have lived here since 1994 working and paying our taxes faithfully.
I had a call/request for proof of what Canadian Gov. retirement benefits I was receiving . I sent them that . . . Read More

Category: Spousal Benefits
Posted: Sep 17 2021 - 1:48pm

Do I Get An Increase In Social Security Since I'm Still Working?

I retired at 67 and still work now retired in2021 do i get in acrease in social security

Hi. I assume what you're asking is whether or not your ongoing earnings will cause your benefit rate to increase. In that case, the answer is maybe. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so additional years of earnings only increase a person's benefit rate if they're higher than one or more of the 35 years currently being used to calculate the person's benefit rate . . . Read More

Category: Calculating Retirement Benefits
Posted: Sep 17 2021 - 12:24pm

Can I Stop My SSDI Benefits And Start Collecting Widow's Benefits Instead?

I am 65 yr old widow can I take my Social Security few months early and stop my SSDI benefits

Hi. No, you can't voluntarily stop receiving Social Security disability (SSDI) benefits. The only way that you could stop your SSDI benefits is by withdrawing your application, which you almost certainly would NOT want to do because you would then have to repay all of the benefits you've been paid up to now.

If you're eligible for widow's benefits and if your widow's rate would be higher than your SSDI rate, you can simply apply for widow's benefits without . . . Read More

Category: Filing Options
Posted: Sep 17 2021 - 12:16pm

If I Don't Start Drawing My Own Benefits Until Age 70 Would My Wife Be Able To Draw A Higher Survivor Benefit Rate?

I am 65 and drawing survivor ship from my wife’s SS. I have remarried and it is my understanding if I draw the survivor ship until age 70 and then if I die my current wife would be able to draw my survivor ship at a higher rate. Is this true?

Hi. Yes, if you wait until age 70 to start drawing your Social Security retirement benefits and if you die at age 70 or later then your surviving spouse could be paid up to your full age 70 rate as a survivor. She couldn't draw both her own benefit and your full benefit rate at the same time, though, just the higher . . . Read More

Category: Survivor Benefits
Posted: Sep 17 2021 - 12:09pm

How Does The Family Maximum Work If A Disabled Child Is Getting His Own SSDI Benefits?

How does a child disabled prior to age 22 but collecting on their own work record affect the family maximum? My son, who has autism and other related health issues was able to work for a brief time. He qualified for SSDI on his work record and is currently collecting benefits. He was considered disabled prior to age 22 and at no point earned in excess of the SGA limits. If my lower earning spouse begins collecting at age 62, and I claim child in care benefits under her record, what affect does my son’s benefit have on the family maximum? For example, let’s say my wife’s PIA was . . . Read More

Category: Family Benefit Maximum
Posted: Sep 17 2021 - 11:52am

Why Do I Have To Fill Out A Form SSA-795?

Why do I have to fill out form SSA-795 if I have never received benefits? I am trying to have Medicare part B in place for when I retire at end of December. I am still currently employed and covered under my employers health care plan and recently enrolled in Medicare PartA. I am 66 years and 3 months old so I am at my normal retirement age. Just don’t understand this form and what I’m supposed to write on it.

Hi. Form SSA-795 is a multi-purpose form used to submit written requests to Social Security. The title of the form is "Statement of Claimant", and . . . Read More

Category: Medicare
Posted: Sep 17 2021 - 11:36am

What Is The Correct Policy For Receiving A Percentage Of Your Husband's SS Funds?

My husband is 66y/o started receiving Social Security August of 2021. When we applied we discuss with a SS rep, regarding me received 48.5 percent of my husbands SS check monthly. The rep stated yes I could get 48.8 percent after my husband started receiving funds. On Sept 14 I called the SS 800# and I was told I cannot received 1/2 of my husbands funds as previous discuss because I was not born before 1954. Apparently, the law changed a couple years ago and those of us born after 1954 are not eligible. Can you please tell me what is the correct policy receiving a percentage of . . . Read More

Category: Filing Options
Posted: Sep 16 2021 - 6:41pm

Is There A Limit On How Much You Can Earn If You're On Medicare?

Is there a limit you can earn working part time on Medicare

Hi. No. Earnings in any amount would have no effect on a person's Medicare coverage. However, if you receive Medicare based on being eligible for Social Security disability (SSDI) benefits, then your Medicare coverage could eventually end if you earn enough to cause your disability benefits to be terminated.

Best, Jerry

Category: Medicare
Posted: Sep 16 2021 - 4:48pm

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