Ask Larry: Questions and Answers

Displaying 2691 - 2700 of 10063 questions.

Is It True That I Can't Collect Both CPP And Social Security?

I am a dual citizen - Canadian and American. I have only ever worked in Canada. I have CPP there. However, I have not paid CPP since 2013/14. I married my American husband in 2006. I am told by Social Security that I can't collect CPP AND Social Security. I was told by Social Security that they could put together some Social Security based on my last 5 years of work (in Canada). During these years I did not pay CPP. Clear as mud? I don't know if the software can answer these questions.

Hi. It's certainly possible to collect both U.S. Social Security . . . Read More

Category: Foreign Pensions
Posted: Mar 23 2021 - 11:37am

Does My Sister Have An Option To Stop Or Delay Her SS Up To A Year From Her Initial Claim?

My sister, age 62 in September 2020, started claiming SS in late 2020 and went back and forth on what the amount was and how much she can work to not have the benefits taxed; finally got it straight in February 2021. Does she have an option to request stopping or delaying her SS, up to a year from her initial claim? Thank you for your time. I would appreciate a reply to my email.

Hi. Your sister couldn't choose to voluntarily suspend her benefits anytime prior to the month in which she reaches full retirement age (FRA). However, she would be allowed to . . . Read More

Category: Filing Options
Posted: Mar 22 2021 - 12:36pm

How Does Social Security Calculate Monthly Earnings?

I’ve been on Ssdi for 5 years now , I’m 63 and receive a monthly benefit .. I also work 20 hours a week in the health care field .. my limit on income is currently set at $1310 a month .. my concern is that my employer this las pay period gave annual incentive bonus of 175 $ which put me approximately $ 70 over my limit this month . .. Does SSA calculate Earnings based on the days you earn in a month or what you receive in a month ?

Hi. When calculating a person's countable earnings for purposes of the trial work period (TWP) and substantial gainful . . . Read More

Category: Disability Benefits
Posted: Mar 22 2021 - 10:22am

What Can I Do In The Next Few Years To Build Up Social Security Benefits For My Wife And Myself?

I am 60 and self employed for 30
Years. the vast majority of my income was / is from
company profit distributions and 1099 income. My questions:

What can I do now and for the next few years to maximize or build up more social security benefits for myself (and spouse, same situation) before I / we retire? (i.e.; pay myself a W-2 income)

Hi. Your Social Security retirement benefit rate will be based on an average of your highest 35 years of wage-indexed Social Security covered earnings. You can increase your benefit rate by replacing a . . . Read More

Category: Retirement Benefits
Posted: Mar 22 2021 - 10:03am

Is There Anyone Who Can Help Us?

My Father was told 15 years ago that if he took his railroad pension that he couldn't file for Social Security so he hasn't gotten any Social Security for the last 15 years and now they are telling him that they can't even find his Social Security Number on record. Is there anyone that can help us

Hi. You say that they are telling your father that they can't find his Social Security number on record, but it's not clear who you mean by 'they'. In any case, your father is free to apply for Social Security benefits even if he's collecting Railroad Retirement . . . Read More

Category: Railroad Retirement & Social Security
Posted: Mar 22 2021 - 9:55am

Is There Anything I Can Do?

Hi Larry,
When I started teaching in 1990 in California, I was told I would not get Social Security benefits because I would no longer be paying into the system. It made perfect sense to me. My husband has put off collecting SS until age 70 this February in order to qualify for more than at age 62. When he was speaking to an advisor at SS, he was told about the government pension offset and that I would not qualify for his SS if he passes before me because It would be considered double dipping! So even though we have been married almost 50 years and have never had “ . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 22 2021 - 9:36am

Can I Draw Off Benefits Off Of My Former Husband If I Get Divorced?

Ok my husband is in a nursing home and he does not know no one...his family came and got him he had already told me he would want to go back where he came from if he got sick..ok IAM 64 years old and I draw half of what he makes on his social security he is 68 okay my first husband which was many years ago we have a son that's all the kids I have had he makes more money I was married to him over 10 years and yes I did get remarried I was wondering being I was married to him over 10 years is there anyway I can draw off of him if I can go and get a divorce from the one I am marry . . . Read More

Category: Divorced Spousal Benefits
Posted: Mar 22 2021 - 8:33am

Will My Disability Benefit Become My Retirement Benefit When I Turn 62?

Ok I'm recieving social security because of my disability. Once I turn 62 will my disability become my retirement

Hi. No. If you're receiving Social Security disability (SSDI) benefits, your benefits won't convert to regular Social Security retirement benefits until you reach full retirement age (FRA). A person's SSDI benefit rate is equal to the unreduced Social Security retirement benefit rate they'd be eligible for at FRA. You could opt to switch from drawing SSDI benefits to drawing retirement benefits at age 62, but if you did so your benefit rate . . . Read More

Category: Disability Benefits
Posted: Mar 22 2021 - 8:25am

Can I Suspend My SS At FRA And Claim Spousal Benefits?

Can I suspend my ss at FRA and claim on spouses FRA ss At 50%?

Hi. No. If you suspend your own benefits, you cannot be paid any other type of Social Security benefits while your own benefits are suspended (https://www.ssa.gov/benefits/retirement/planner/suspend.html).

Best, Jerry

Category: Suspending Retirement Benefits
Posted: Mar 21 2021 - 4:35pm

How Will Living Outside Of The U.S. Affect My SSDI Benefits?

Hi Larry
I am now outside of USA and on SSDI. I am LPR. I was traveling and visiting family and looking into possibly retiring in Europe.
I wasn't able to return within the timeframe due to covid to keep my status.
I have now been out of the country for over a year and may not be able to return.

I understand I can still receive my SSDI if I am a green card holder based on my work contributions but if I lose it then how will that affect me. Will I lose it? Will I pay higher tax so lose some of it.

Hi. Yes, you can still be paid . . . Read More

Category: Disability Benefits
Posted: Mar 21 2021 - 4:24pm
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