Ask Larry: Questions and Answers | Maximize My Social Security

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Can I Collect A Spousal Benefit Before Switching To My Benefits?

If my wife decides to collect ss when she turns 62 in sept 18 her benifit would be about $700 I turn 66 in April 18 could I collect a spousal benefit from her for awhile or until I turn 70 ?and then collect my full benifits .
And could she then switch to spousal benifits from me when she turns 66 and 4 months

Hi,

Yes, since you were born before 1954 and you would be over full retirement age (FRA) when your wife files for her benefits and assuming that you haven't already filed for your own benefits, you would then have the option to file just . . . Read More

Category: Filing Options
Posted: Mar 2 2018 - 7:51am

Will My Austrian Pension Affect My Spousal Benefits?

I am austrian, 62yrs., married for 14 years to an american, i have my austrian pension. I want to apply for for spouse benefits. Will my austria pension affect it and do i have to mention it at all

Hi,

No, your Austrian pension won't affect your spousal benefits but I wouldn't recommend failing to disclose it on your application.

Best, Jerry

Category: Foreign Pensions
Posted: Mar 2 2018 - 7:44am

Can My Wife File For Her Benefits At 66 And Can I Then File For Spousal Benefits Only?

Hi Larry,
I commend and appreciate the great job you are doing serving the community.
I will be 68 in May 2018 and my wife will be 66 in June 2018. We have not claimed RIB yet. My estimate is $2400/month and my wife's $400. My strategy is NOT to claim my RIB till age 70 to maximize. My questions:
1. Can my wife start her RIB at 66, and I apply for restricted spousal benefit ($400 RIB for my wife + $200 spousal) till I attain age 70.
2. At my age 70, I start my own RIB, and my wife apply for spousal benefit to get the max.
3. What would be the . . . Read More

Category: Filing Options
Posted: Mar 2 2018 - 7:23am

What's The Catch?

My wife and I are both 66. She has filed for SS benefits of $1,700/month. I am waiting until I am 70 to get $3,700. When she filed, the SS person told her I can get half her benefit now ($850). Can I do so without impacting the benefit I will receive when I turn 70? This seems like one of those too good to be true topics. There is over $1,200 difference in my claiming at 70 versus now, so a lot at risk. What's the catch?

Hi,

There isn't really a catch. Since you were born before 1954, as long as you are full retirement age (FRA) or older and your . . . Read More

Category: Filing Options
Posted: Mar 1 2018 - 4:26pm

What Should My Father Do?

MY DAD has applied for SSI but not getting approved as he is showing the property in hi name in Virginia. we figured and spoke to the Person in Virginia who actually owns this property. He and my dad has the same name. just because of this reason SSI is not being approved. SS office is not helping when asked how to prove that they are 2 different people. The person in Virginia has written a letter confirming it is him and he is not same as my DAD. but SS office is not willing to take that. don't know what to do as my parents are in very bad financial situation because of this . . . Read More

Category: Supplemental Security Income
Posted: Mar 1 2018 - 4:17pm

Will Withdrawing Money From An IRA Affect My Benefits?

I will be 62 years old in September, 2018. I have two IRA which I will be withdrawing money from, will they cause my Social Security to be reduced or taxes paid because of these withdrawals? My income from those accounts would be approx $60K annually.

Hi,

No, withdrawing money from an IRA wouldn't affect your Social Security benefits. I'm not an expert on tax rules, though, so I can't advise you about taxes other than to say that Social Security benefits can be taxable depending on your income level ( . . . Read More

Category: Miscellaneous
Posted: Mar 1 2018 - 4:02pm

Can I Wait Until Full Retirement Age To File For Spousal Benefits?

Hello Larry, I will be turning 62 June 2018 and my husband is 82 ; a 20 year difference and married 35 years . I talked to Social Security office and they told me I would get $682 of my own social security benefit plus I would have to take a spousal benefit which would be $200 adding up to $862 a month if I start collecting at 62 . I told them I want to wait until my full retirement age of 66 and 4 months to take a spousal benefit and was told I could not. Also, I was told if my husband passes way I would get his amount of social security on the day he died if I was at full . . . Read More

Category: Filing Options
Posted: Mar 1 2018 - 3:41pm

Am I Safe To Take A Class?

Hi!
I am 37 and currently receive both SSD and SSI benefits. I'm unable to work due to, among several other things, almost daily migraines.

I was considering taking a single class per school semester (online) as it feels like something I could manage on my not so bad days. However, I'm worried this will affect my benefits.

I want to keep my life moving forward in hopes of getting well enough to get back out into the workforce, but I don't want to endanger my current stability. Am I safe to take a class?

Thanks for your help!

Hi . . . Read More

Category: Disability Benefits
Posted: Mar 1 2018 - 3:37pm

Can My Husband File For Spousal Benefits While Waiting For His SSDI Determination?

My husband has applied for SSDI, he is 62, born in 1955. I am 66, born in 1952. He is the higher earner by 20K dollars. I have filed for my full age social security. for June 2018 Can he apply for spousal benefit while waiting on a decision on his SSDI, he has already been denied at the first step, he has appealed with a attorney. He is also 100% disabled vet. Thank you for your help and for helping others in this very complicated system.

Hi,

Probably not. If your husband filed for spousal benefits he would also have to apply for his own retirement . . . Read More

Category: Spousal Benefits
Posted: Mar 1 2018 - 10:19am

Can My Wife Get Spousal Benefits?

I'm hearing about spousal benefits for the first time, and don't know anything about it. I am 62, and still working. My wife Barbara is 62 and retired, not collecting SS yet. I plan on retiring July 2019, at the age of 64, and starting to collect my SS at that point. Should my wife wait to collect her SS until that time, as well, and can she apply for spousal benefits? My SS payment at that time is approximately 25K, and hers is approximately 7K.
If she were to collect spousal benefits, does it in any way reduce my payment?
Thanks.

Hi,

. . . Read More

Category: Filing Options
Posted: Mar 1 2018 - 8:09am

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