Ask Larry: Questions and Answers

Displaying 5901 - 5910 of 10063 questions.

Is This Plan Correct?

My question: My wife, who’s 62, has been getting Social Security disability since she was 51. (She had a stroke.) I’m 65.

Her benefits are more than mine.

Our plan is to:
-- When I reach my full retirement age of 66 (I was born in 1952), I apply for spousal benefits on her record.
-- When she turns 66 and 2 months (she was born in 1955), when SSDI automatically converts into a retirement benefit, she’ll voluntarily suspend benefits until she’s 70. I’ll be 69 then, and I’m going to have to stop receiving spousal benefits.
-- When I’m 70, I’ll . . . Read More

Category: Filing Strategies
Posted: Jun 20 2018 - 9:56am

When Can I Start To Collect On My Husband's Record?

I have been a widow for about a year now. I was born in 1958 am 60 now married over 41 yr. My husband lived like an was a dope feen. He was also on a medical retirement from Fords an recieving s.s which they told me i could not have because of my age at the time i filed an because i was not living with him at the time he died we never I divorced an i was never allowef to work so there is no s.s. for me from myself. When can i start to collect the $ owed to me, an is there $ owed to me. He always worked hard so i wouldnt have to struggle he said but s.s. wont budge help me . . . Read More

Category: Widow's Benefits
Posted: Jun 20 2018 - 9:24am

Can I Claim A Spousal Benefit And Defer My Own Retirement Benefit Until Age 70?

Hi Larry,
My wife is 64 and currently receives a Social Security Disability benefit. When she turns 66 in 2019, her benefits will convert to retirement benefits. At that time, I will also be at FRA but will have yet to claim my own retirement benefit. At the time her disability benefit converts to a retirement benefit, can I claim a spousal benefit to receive 1/2 of her benefit and defer my own retirement benefit until age 70?

Hi,

Yes, since you were apparently born prior to January 2 1954 you could file for just spousal benefits only as early . . . Read More

Category: Filing Options
Posted: Jun 20 2018 - 7:31am

Can My Spouse Draw Spousal Benefits At FRA Without Me Filing Early?

I'm 61 and my spouse is 65. Since I'm working and she's not, and I plan on filing at 67 years of age, can she at her FRA of 66 draw half of my benefits without me filing?
I've been told that if her FRA benefit is less than what half of mine is, she can draw half of my FRA benefit without me having to file early.
Thanks in advance for advice and direction

Hi,

No, your spouse couldn't draw spousal benefits until you start drawing your benefits. If your spouse's own retirement benefit rate would be significantly less than 50% of your full . . . Read More

Category: Spousal Benefits
Posted: Jun 19 2018 - 5:29pm

How Much Money Is My Grandson Allowed To Make?

I am raising my grandson who father died when he was nine--He receives around 600.00 a month benefits from Social Security. He just got a part time job and makes around 600.00 a month. How much money is he allowed to make- I don't want him to lose his benefits or insurance- He will be 17 in July-Thanks

Hi,

Your grandson could earn up to $17,040 this year without losing any of his benefits (https://www.ssa.gov/planners/retire/whileworking.html).

Best, Jerry

Category: Earnings Test
Posted: Jun 19 2018 - 5:20pm

Is There Any Way I Can Draw Social Security Benefits Of Any Type?

I am a 63 year old retired federal civil service retiree with 25 quarters of social security. My wife of 30 years is 56 years old and is a retired public school teacher and has her 40 quarters of social security paid. Is there anyway I can draw social security benefits of any type? If I can would I have to wait until my wife turns 62?

Hi,

It sounds unlikely. You'd need at least 40 quarters of coverage to draw benefits on your own record, and your wife would have to be drawing her benefits in order for you to be potentially eligible for spousal . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jun 19 2018 - 7:04am

Can I Get Spousal Benefits?

I do not have enough credits to get Social Security benefits. I am 66. Can I get spousal benefits? My husband is also 66 and will work until he is 70.

Hi,

You can't get spousal benefits until your husband starts drawing his benefits. You and your husband may want to strongly consider using our maximization software to compare your options between filing for benefits now vs. waiting until your husband turns age 70.

Best, Jerry

Category: Spousal Benefits
Posted: Jun 19 2018 - 6:58am

Which Estimate Should I Rely On?

I used the Social Security Administration's online Quick Benefit Calculator and the estimate I received was approximately $400 less than the number I received during an in-person visit at the local Social Security office here in the town where I live AND the SSA's online Retirement Estimator calculator. Which should I rely on?

Melinda

Hi Melinda,

I can't really answer that with any certainty, but I don't know of any reason why Social Security's online calculator would be that far off. You may want to recheck with Social Security to see if . . . Read More

Category: Miscellaneous
Posted: Jun 18 2018 - 6:01pm

Can My Husband Delay Filing For Medicare If He Has Health Insurance Through My Employment?

I will be 65 in October and am working full time. My husband retired at the end of December 2017 and will be 66 in April 2019. He wants to hold off on Social Security until age 66 possibly longer. He transitioned to my work health insurance prior to ending his work health insurance in December. My health insurance covers over 25,000 employees.
We have purchased the Maximize my Social Security program/calculator and enjoy plugging in the numbers. We also purchased Get What's yours: The Revised Secrets to Maxing out your Social Security and Get What's yours for Medicare. . . . Read More

Category: Medicare
Posted: Jun 18 2018 - 5:14pm

Is It True That My Friend Can't Get Both Social Security Benefits And A Railroad Pension?

My friend receives a pension from her late husband railroad pension. She has been told that she cannot receive her own SS benefits and the RR pension. Is that true?
It seems to me that her own SS benefits should not count against her late husband's RR benefits.

Hi,

That's not exactly true, but she couldn't get both benefits in full. Railroad Retirement (RR) benefits consist of 2 tiers, and tier 1 benefits are offset dollar for dollar by the amount of any Social Security (SS) benefits that the person receives. So, the only way that your friend . . . Read More

Category: Railroad Retirement & Social Security
Posted: Jun 18 2018 - 5:03pm
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