Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 5691 - 5700 of 10063 questions.

Should I File For My Benefits Sooner If I Have A Wife And Minor Child?

Hello Larry,

This is a question regarding child under-18 and child in-care spouse benefits.

I turned 65 this June, 2018. I work full-time and plan to work at least for another 3 years but possibly until 70. I have a 9 year old daughter and my wife of 10 years is quite a bit younger than I am at 37 years old. She is also working full-time but at considerably lower pay than mine. (On a related note, she is also a green-card holder, not a full citizen. Is that an issue with SS benefits?)

I only recently found out about the under-18 child benefit for my . . . Read More

Category: Filing Strategies
Posted: Aug 20 2018 - 7:09am

What Entitlement Month Should I Put On My Application?

I turn 70 on December 28th of this year (2018). When I apply for my S.S. benefits (at age 70) what entitlement month do I put on my application--December, 2018 OR January, 2019? I want to be sure that my benefits will be based on age 70 and that I will not receive any retroactive payments that would (in effect) reduce my permanent benefit amount. Thanks.

Hi,

You should choose December 2018 as your month of election to start your retirement benefits. Social Security checks are actually paid a month behind, though, so your first payment won't be due . . . Read More

Category: Filing For Benefits
Posted: Aug 20 2018 - 6:56am

Should I File At Age 62 If My Wife Is 5 Years Older Than Me?

Hi Larry-Hope all is well with you. Here's my question (which I'm sure you have gotten thousands of times), my wife is 64, I'm 59. I was going to wait until my FRA to apply for SS since my wife's SS is nominal at best. I recently heard on a podcast since she will be beyond my FRA when I turn 62 it would be smart to consider applying at that time. I am retired and living comfortably on two pensions (military and small civil service). My game plan was to spend down TSP account prior to beginning SS for tax purposes but I'm now in a quandary. I sure would appreciate any advice. . . . Read More

Category: Filing Strategies
Posted: Aug 19 2018 - 4:54pm

Should I Forego Spousal Benefits Because Of My Concern That It Could Cause A Problem For My Spouse?

My same sex partner and I married in July 2011 after NY began recognizing same-sex marriages. At that time she was age 66 1/2 and was collecting social security spousal benefits on the account of her former husband to whom she had been married for more than 10 years. She called social security to advise of our marriage and was told, "no need to do anything because we don't know how we're going to handle these matters." Following the Obergfell decision, she telephoned again and was told "nothing to do yet; we're figuring out how to handle these situations." She continued to . . . Read More

Category: Same Sex Couples
Posted: Aug 19 2018 - 10:47am

What Should I Do Now?

I am still working and turned 62 in June 2018. I was told by a financial advisor that I should take my deceased husband's social security right away even though i would only receive a small amount and that it would increase the amount I would get at full retirement age.
I did a phone interview with social security recently and was told that it would be a huge mistake to do that and that it would freeze my allowance at the current amount when I plan to retire at age 66.
I'm confused as to why there even are survivor benefits if I can't take advantage of it at all. Or . . . Read More

Category: Widow's Benefits
Posted: Aug 18 2018 - 1:55pm

Can I Also Receive Social Security If I'm On Disability?

I am 59 I am on Disability. Can I receive Social security.

Hi,

Well, assuming you mean that you're receiving Social Security disability benefits (SSDI), then you're already drawing your Social Security benefits. Qualifying for SSDI benefits essentially simply permits you to draw your full retirement age benefit rate sooner than when you actually reach full retirement age (FRA). SSDI benefits then automatically convert to regular Social Security retirement benefits at the same rate when the recipient reaches FRA.

You can't receive both SSDI . . . Read More

Category: Disability Benefits
Posted: Aug 18 2018 - 1:32pm

Can I Apply For Social Security Now Or Next Month With A Starting Date Of August 1?

Can I apply for social security now or next month but with starting date Aug 1?

Hi,

If you're eligible for benefits for the month of August, then yes you could still apply for them this month. If you file your application after August 31st, however, the only way that you could still claim benefits for August is if you're eligible to claim retroactive benefits. And, for example, you can't claim Social Security retirement benefits retroactively unless you are over full retirement age. For more information on this topic, refer to the following section . . . Read More

Category: Filing For Benefits
Posted: Aug 17 2018 - 4:09pm

Is There Anything We Can Do To Speed Up The Processing Of My Wife's Claim?

2 months ago I applied for social security and received a call the next day. Once i heard I was approved, my wife for spouse benefits to coincide with my start date (8/10)-its been over 2 months and she hasn't heard anything. The SS web site says her application is still processing. Is her delay in hearing about her application seem right to you? Anything we can do to speed it up? Thanks PS-Your Get What's Yours Book was very helpful

Hi,

There's really no standard processing time for claims filed with Social Security. In some cases it can take less . . . Read More

Category: Filing For Benefits
Posted: Aug 17 2018 - 7:28am

Will The Changes In SSA Force Me To Switch To My Own Account Sooner?

I am currently 66yrs old and receiving survivor benefits. I had hoped to try to continue with late husband's account until at least 68. Will the changes in SSA necessitate me activating my own account sooner?

Thank you

Hi,

No, they won't. And, if your own retirement benefit rate would be higher than your current survivor rate, your best strategy would likely be to wait until age 70 to switch to drawing on your own account. You may want to consider using our maximization software to compare your options and verify your optimal claiming . . . Read More

Category: Filing Strategies
Posted: Aug 15 2018 - 4:49pm

If I Want To Start Collecting Benefits At Full Retirement Age, What Should I Request As My Starting Date?

If my birthday is 6 Jul and I want to start collecting Social Security at full retirement age do I need to request 6 Jul as starting date or 1 Aug for example. Will that make any difference? Also, if I start collecting 1Aug, do my earnings for that year (Jan through Jul) will count towards retirement or just full years?

HI,

If your birthday is July 6th and you want to start drawing benefits effective with your full retirement age (FRA), you would choose July of the year that you reach FRA as you month of election to start benefits. Social Security . . . Read More

Category: Filing Options
Posted: Aug 15 2018 - 10:37am

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