Ask Larry: Questions and Answers

Displaying 5101 - 5110 of 10063 questions.

When Should We Sign Up For Benefits To Maximize Our Social Security?

Larry -

If I turn 70 on Oct (1st-10th of the month), and my wife turns 70 in January (10th - 20th of the month) - when should we sign up for Social Security benefits to Maximize our Social Security and also not have Social Security office staff do a 6 months retro on our monthly benefits. Thanks

Hi,

If you want your benefits to start effective with the month you reach age 70, you would choose October as your month of election to start benefits unless you were born on October 1st, in which case you'd want to choose September. In your wife's . . . Read More

Category: Filing Strategies
Posted: Mar 17 2019 - 9:56am

Is There A Deadline For Advising SSA That You Want To Suspend Your Benefits?

Hello, Jerry. Thank you for all the information you provide us, day-in and day-out. It is very much appreciated! I understand that if someone receives SSDI and reaches FRA, their SSDI automatically converts to regular retirement payments. Is there a deadline by which one has to advise SSA that they would like to "suspend" the newly-converted payments in order to receive DRCs? Can someone do this at any time before age 70? If you can only do this before reaching FRA, and cannot do this after reaching FRA, why is there such a "one-time-only" restriction against the disabled, but . . . Read More

Category: Suspending Retirement Benefits
Posted: Mar 16 2019 - 9:04pm

Would Payments I Receive For Providing Adult Foster Care Be Counted As Income?

I receive SSI and SSDI. I have two children who also receive SSI. My roomate gets PCA services and it was offered to me to be her adult foster parent. I currently get paid as a PCA and it counts against me. Would this stipend for adult foster care be counted as income? I have called the SS office multiple times and get a different answer every time... they say no it's foster care or yes it counts as income since you are performing a service. I can find publications that say foster care payments do not count but she is an adult foster.. if it would not count, is there a . . . Read More

Category: Supplemental Security Income
Posted: Mar 16 2019 - 4:29pm

Am I Owed More Than Social Security Is Giving Me?

I am confused. When my father started getting his social security, he asked about me getting a portion since I was disabled before age 22. They said no. When he passed away 2/2016 I got the $255 death benefit and then began getting $295 monthly which they told me is reduced since he was getting a private pension of roughly $200 and state college pension and VA benefits of roughly $800. I just read that the Windfall Elimination Provision doesn't apply to survivor benefits. I am the only person on his record that qualifies. I also asked about back pay and they said I didn't . . . Read More

Category: Disabled Adult Child Benefits
Posted: Mar 16 2019 - 4:03pm

Should I File For Spousal Benefits?

I am 64 and still working as a high earner I do not intend to draw my ss until 70. My husband is past 70. Should I file for spousal benefits and if so is there any disadvantage.

Hi,

It doesn't sound like you should. Assuming you were born after January 1 1954, you'd be deemed to also be filing for your own Social Security retirement benefits whenever you filed for Social Security spousal benefits. You would then receive essentially just the higher of the two benefit rates, and your rate would be reduced for age if you filed prior to your full . . . Read More

Category: Spousal Benefits
Posted: Mar 16 2019 - 3:46pm

Is My Husband Permitted To Suspend His Benefits At Age 66?

In reading your book, Get What's Yours (Social Security revised ) I am confused about suspension of benefits at Full Retirement Age for those who have been on disability benefits. I am referring to page 54 "When disabled workers reach FRA, their disability benefit turns into their full retirement benefit. They can suspend their retirement benefit, but they can't withdraw it." And on page209 regarding sentences in the POMS "to prevent the disabled from exercising the file-and-suspend strategy," I am sure I am missing something here and would like clarification in our situation. . . . Read More

Category: Suspending Retirement Benefits
Posted: Mar 14 2019 - 7:51am

Would My Boyfriend's Ex-Wife Be Able To Get Any Of His Social Security If I Marry Him?

Hi Larry, I've been with my boyfriend 19 years now, he was married before he meant me for 19 years and has been divorced for 19 years . My question is, if I marry him will his ex wife be able to get any of his social security benefits/ retirement? Or would i be able to ( I guess you would say draw off of it)?

Hi,

Your boyfriend's ex-wife could still potentially qualify for divorced spousal benefits on your boyfriend's account regardless of whether or not you and he get married. That would not adversely affect your boyfriend's benefits, though, nor . . . Read More

Category: Divorced Spousal Benefits
Posted: Mar 14 2019 - 7:30am

Why Did Social Security Cut Off My Widow's Benefits?

I was the payee for my daughter's ssi checks .so when my husband died they split the survivors check between us .she got married and moved out I reported it to them and forwarder her address to them .well now they cut my widow check off as well as her check .I feel I'm entitled to his benefits still .they sent me s bill for 2400 .oo to pay off .I don't have a income of my own .I don't work ,I babysit . Thanks for ur help .

Hi,

If your daughter's married, she's probably not eligible for Social Security survivor benefits on her father's record. A . . . Read More

Category: Miscellaneous
Posted: Mar 13 2019 - 3:04pm

Would My Widow's Benefit Rate Be Increased If I Don't Receive Some Of My Benefits Due To Excess Earnings?

If I am to start to receive widow social security benefits at age 60 in 2019. I understand that If I get a job and earn more than the amount allowed under Social Security's earnings test my benefits will be either fully or partially suspended due to my excess earnings. So say, I had no job in 2019, but made $20,000 in 2020 and $70,000 in 2021, but expect to have no earnings in the years after 2021. Should I then expect to receive higher widow benefits (as compared to no work scenario) in the years after 2021 because social security would give me a credit for suspending my widow . . . Read More

Category: Widow's Benefits
Posted: Mar 13 2019 - 9:54am

Can You Voluntarily Terminate Disability Benefits Just Before FRA In Order To Claim Widow's Benefits Instead?

If a person receives social security disability -- then I understand that his social security disability converts into his regular retirement social security at FRA (full retirment age) rate at FRA. The person is also a widow (his widow benefits are 1/2 of his own). Can then the person just before reaching his FRA age voluntarily get off disability so he can start receiving survivor (widow) social security benefit until age 70 and then switch to his own retirement regular social security benefit at age 70 (which is higher than FRA social security)? I think the main question . . . Read More

Category: Disability Benefits
Posted: Mar 13 2019 - 9:39am
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