When Should I File For Benefits?
Hi, I’ll be 62 this year, married , and are the primary earner , wife is 55 and will be a spousal earner and perhaps a survivor earner. I’ve read your responses to “taking early and investing” , in my case using the early age benefits as a delay to using retirement account withdrawals. In addition to any case to be made for continued growth in the retirement accounts, it also seems worthwhile to consider that the social security withdrawals starting at 62 have only 85% of the total taxes whereas the retirement income would be taxed at 100%. In my case that’s a potential $1,000 . . . Read More
Category: Filing Options
Posted: Feb 27 2020 - 12:20pm
How Can My Mother Access My Deceased Father's Earnings History?
Hi Larry,
My Mother has been a widow since 2007. How can she access her spouse’s (my Father) SSA earnings record? Can she create a My Social Security account online on his behalf? Or does she have to contact the SSA directly?
Thanks
Hi,
I'm sorry for your loss.
Your mother couldn't legally access her deceased husband's earnings history online. She might be able to get a copy of your father's earnings record by visiting a Social Security office, but they seem reluctant to release information like that even though I believe that it' . . . Read More
Category: Miscellaneous
Posted: Feb 27 2020 - 12:03pm
Does The Strategy Recommended By Social Security's Online Calculator Make Sense To You?
Hi Larry, My husband is 10 years older than me (66) and I'm (55). We were both born after January 1954. I am planning to work for the next 10 years, til I am 65. I love my job. My PIA is larger than my husband by a good amount, and will grow due to replacing low earning years with higher earning years (35 highest). I run the social security calculator online and it wants my husband to delay til 70 and me draw as early as 62 to maximize our benefits. But , if I draw that early, my salary will erode my benefits by 50%. So I'm not sure drawing early make sense for me. I've been . . . Read More
Category: Filing Strategies
Posted: Feb 27 2020 - 11:36am
Will Social Security Deduct Medicare Part B Premiums From My Survivor Benefits At Age 65?
My husband of 14 years died in 2000 at the age of 54. I will be 62 in June 2000 (never re-married). As my employer is going out of business soon, I plan on collecting my survivor benefits and working part time since my own social security will grow thru age 70. Will SSA deduct Medicare part B premiums from my survivor benefits @ age 65?
Hi,
I'm sorry for your loss.
Yes, if you're drawing any kind of Social Security benefit when you reach age 65, Social Security automatically enrolls you in parts A & B of Medicare and starts making the . . . Read More
Category: Medicare
Posted: Feb 27 2020 - 11:24am
Will My Wife Be Able To Switch From Her Own Benefits To A Spousal Benefit When I Start Drawing My Benefits?
My wife and I will turn 66 this year. I'm still working and plan on filing for social security at 70. My wife will file for ss this year at her fra. Her amount will be 400 a month. When I file at 70, will she be able to switch to a spousal benefit of one half of my fra?
Hi,
Your wife couldn't switch from drawing her own benefits to drawing just a spousal benefits, but what she could do when you start drawing your benefits is file for an excess spousal benefit from your record. Your wife's unreduced excess spousal rate would be calculated by . . . Read More
Category: Filing Options
Posted: Feb 27 2020 - 11:05am
Am I Eligible To Receive Partial Benefits From My Deceased Husband's Record?
My husband passed March 15 2019 at 56 and was on SSDI am I eligible to receive partial benefits. We were married for 8 yrs.
Hi,
I'm sorry for your loss.
In order to qualify for widow's benefits you must be at least age 60, or at least age 50 and disabled. If you aren't yet old enough for widow's benefits you would likely qualify for at least a one-time $255 death benefit based on your husband's record, so you'll probably want to contact Social Security to apply for that if you haven't already done so.
Best, Jerry
Category: Survivor Benefits
Posted: Feb 27 2020 - 10:57am
Will My Husband Qualify For Benefits As My Spouse?
Hi Larry, I am a retired American waiting until age 70 to file for my social security benefits. I am married (for over 10 years now) to a Canadian citizen who has a green card. I wonder if my husband would be eligible for spousal benefis on my record, when I file at age 70. He is two years younger. For the past couple of years we have spent most of our time in Canada, because I would like to become a dual citizen. However, we have a US address, US bank accounts, and file both US and Canadian taxes each year. My husband collects a very small teacher's pension, plus around $700 . . . Read More
Category: Spousal Benefits
Posted: Feb 27 2020 - 10:40am
Can My Wife Get Free Part A Of Medicare Based On My Record Until She Turns 65?
Wife is 62 will start her social security I am 74 on social security. Can my wife get part A Medicare free off my social security till she turns 65.
Hi,
No. Your wife would have to be at least age 65 to qualify for Medicare, unless she becomes entitled to Social Security disability benefits before then.
Best, Jerry
Category: Medicare
Posted: Feb 26 2020 - 10:26am
If My Wife Dies Could I Take Survivor Benefits While Still Letting My Own Benefit Rate Grow Until Age 70?
My wife (age 46) is on SSDI. I'm 66. I'm planning to delay taking my own Social Security retirement benefits till I am 70. If my wife dies before that, could I take survivor benefits based on her SSDI while still letting my own retirement benefits gain 8% a year till age 70? Or, would I be "deemed" to have started my benefits earlier too if I file for survivor benefits earllier than 70?
Thanks so much.
Hi,
Yes, if your wife dies before you apply for your benefits you could claim widower benefits while allowing your own Social Security retirement . . . Read More
Category: Filing Options
Posted: Feb 26 2020 - 10:17am
How Much Will My Husband Receive When He Starts Collecting His Benefits At Age 70?
My husband is only 60 and I am 67. He is retiring at the end of March 2020 but not taking SS until he is 70. He has put in 40 years already. On his SS statement it says he will receive approximately $1,895/per month when he turns 62. Since he is quitting work early at 60 but not collecting for another 10 years what we he receive approximately at 70 when he starts collecting? Thank you!
Hi,
I can't give you a reliable estimate of your husband's age 70 benefit rate based on the age 62 estimate shown on his Social Security statement. Those statements . . . Read More
Category: Miscellaneous
Posted: Feb 26 2020 - 9:34am
