Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 5261 - 5270 of 10063 questions.

Do I Have A Grievance?

I am a Federal retiree who also worked in private industry. I receive both a Federal Pension and Social Security.
In the latest issue of the AARP Bulletin, Jane Bryant Quinn states that your Social Security can't be less than
half of your Pension (see page 31 of the bulletin). My Social Security is 29% of my pension - do I have a
grievance since it is less than 50%?

Hi,

Probably not. I'm not familiar with the AARP bulletin you cited, but it's not accurate if it says that your Social Security benefit amount can't be less than half of . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jan 25 2019 - 11:02am

Can I Withdraw My Claim For Social Security Widow's Benefits?

Hi Larry,
I have bought your Maximize my Social Security license and decided to file for widow's benefit at age 60 on December 1, 2018. I have been receiving annuity from United States Office of Personnel Management and they are now recomputing my annuity down to less than 50% of what I was receiving because I started to receive widow's benefit from Social Security. They are recomputing annuity amount from OPM to exclude credit for post 1956 military service.
My questions is can I withdraw widow's benefit from Social Security so my annuity from OPM will not be . . . Read More

Category: Withdrawing a Benefit Application
Posted: Jan 24 2019 - 11:29am

Will My Stepmom Be Able To Draw My Father's Full Amount?

I have a disabled brother Dale (56) and disabled sister Terri (47) that are drawing off my Dads Social Security. My dad passed away and their Social Security benefits went up. My stepmom is also trying to draw Dads social security since his was a lot higher than hers is. Will she still be able to draw Dads amount instead of hers since they have already raised my brother and sisters. They do not live with my stepmom. I oversee their benefit spending.

thank you

Hi,

Assuming that your stepmom qualifies for benefits on your father's record as a . . . Read More

Category: Family Benefit Maximum
Posted: Jan 24 2019 - 9:30am

Did I Make A Bad Decision Taking Benefits At Age 62?

Hello, Larry and friends,

I have The Book, and it is amazing. Read it twice, first quickly for the "Oh, my gosh!" effect, then again to try to absorb more of the information.

My concern is that I could find very little re: a deceased, disabled (medically retired from the Army) husband. Most information seemed to apply to a disabled surviving spouse or child.

My husband died December 1998, age 51. I was 46, and we had an 11-year old son and a 20 year-old daughter. He got hurt (service-connected) in October '78, and the Army retired him in 1981, I think - . . . Read More

Category: Filing Strategies
Posted: Jan 24 2019 - 9:16am

If I Have Taxes Withheld From My Benefits, Will The Withholding Amount Be Based On My Net Benefit Rate?

I have a question that I can't find answered anywhere on the Internet, and hope you can answer it. If I use Form W-4V to withhold 7% of my social security benefit for federal income tax, will Social Security multiply that 7% times my gross benefit, or will they first subtract out Medicare Part B and Part D premium amounts? I thought I saw somewhere that they would apply the percentage to the net amount after the premiums are subtracted out, but now I can't find anything in writing. This makes a difference to how I fill out the form and how I budget. And maybe someone else would . . . Read More

Category: Taxation Of Benefits
Posted: Jan 24 2019 - 9:13am

When Can I Take Advantage Of Spousal Benefits?

I just turned 62 in December 2018 and filed for early SS for $761 per month. I got my 40 credits in when I was young. I became a Minister and stopped paying into SS for 30+ years, thus the low SS amount. I have been married for 22 years to a wonderful breadwinner the entire marriage. However, 1) I became disabled and couldn't work 8 years ago and could not qualify for SSDI (disability) for not paying SS for the previous 5 years. 2) Separated 4 years ago and haven't had an income since thus forced into early retirement. And 3) My future ex-wife is 11 years younger than I (just . . . Read More

Category: Divorced Spousal Benefits
Posted: Jan 23 2019 - 11:13am

Can I Start Taking SS Benefits Now So That My Wife Can Claim Spousal Benefits?

I am 62 also have an adult disabled child (26) with SSI and my wife is 69 but she was working only 5 years therefore she didn't have social security benefit of her own. Currently, I don't have a job. My questions are: A) Can I start taking SS benefit now, so my wife can claim a spouse benefit? B) If I later (6-month or 1 year) find a job, can I suspend my benefit and my wife can continue receiving hers? C) What would you suggest for maximizing social security benefit in my situation?

Hi,

Yes, if you currently have no earnings and you're at least age . . . Read More

Category: Filing Options
Posted: Jan 23 2019 - 10:43am

Must I Wait Until Age 70 To Resume My Benefits If I Voluntarily Suspend Them?

Dear Larry,
I will reach full retirement age in Feb 2019.
I am currently receiving SSDI, that will convert to retirement benefits.
I have read theQ&A(Aug 6 2016 - 11:30am) Answered by Jerry.
"Can I Prevent The Conversion Of My Disability Benefits To Retirement Benefits At Age 66?"

I want to voluntary suspend my retirement benefits, and I plan to do this before Feb 1.

I am divorced. I was married over 10 years.
I have questions about the effect of this on my ex spouse, who is now living in Germany.
She does not have any USA . . . Read More

Category: Suspending Retirement Benefits
Posted: Jan 23 2019 - 10:28am

If I Accept My Husband's Social Security Do I Still Have To Pay Windfall Elimination To Social Security?

My husband Social Security Benefit at 70 years old is about $3800, mine is $1000.
My pension from CalSTRS is about $525 a month.
We are divorcing.
Question: If I accept his social security do I still have to pay Windfall elimination to the Social Security? How much would it be?

Hi,

You wouldn't 'pay windfall elimination' to Social Security because that's not how the Windfall Elimination Provision (WEP) works (https://www.ssa.gov/pubs/EN-05-10045.pdf). Assuming that your earnings . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jan 22 2019 - 4:02pm

What Benefits Could My Friend Be Able To Receive?

Hello,
My friend and her dependent daughters have recently suffered the loss of their main provider (the husband and father). He was young but paid into SS for some time. The death was a suicide.

My friend is 40 yrs old.
I am trying to help her by understanding what she is eligible for as far as benefits go. I would be grateful to hear your take on this.

Thank you,
A friend

Hi,

If your friend's husband paid into Social Security long enough to be insured for survivor benefits, both she and her minor children may be able . . . Read More

Category: Survivor Benefits
Posted: Jan 22 2019 - 3:34pm

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