Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 6711 - 6720 of 10063 questions.

Can I Take Social Security Benefits At Age 62 Without Reducing My Tier 1 Railroad Rate?

Hi Larry - I’m 61 years of age and I’ve been notified by Railroad Retirement that I’m eligible to receive an annuity, as I have119 months of credited RR service. I also have earned enough credits to qualify for Social Security “early retirement” benefits at age 62. My question is can I file for and receive “early retirement” benefits from Social Security at 62, and then file for and receive Railroad Retirement benefits, without a Tier 1 Age Reduction at my full retirement age of 66 years, 4 months. I’m aware that my Railroad Retirement benefits will be offset by any Social . . . Read More

Category: Railroad Retirement & Social Security
Posted: Jan 20 2018 - 9:50am

Can My Wife Receive Spousal Benefits Without Me Taking Benefits?

Larry, I am 64 and working. My spouse will turn 66 next month. She has not worked for about three decades so will be accessing my social security for the spousal benefit. Can she do so without me taking social security? Read your book but a friend "borrowed" it. Can't remember how you addressed this issue. Thank you

Hi,

No. You must be drawing your benefits in order for your wife to be able to receive spousal benefits. You and your wife may want to consider using the maximization software available on this website to explore your options and . . . Read More

Category: Spousal Benefits
Posted: Jan 19 2018 - 5:16pm

Can I File On My Husband's Record And Wait Until Age 70 To Claim My Own Benefits?

My husband just applied for his social security at his age of 66. I will not turn 66 till 8 months later. Can i claim on his social security and wait to claim on my benefits at age 70? His amount is 2400 a month.

Kay

Hi Kay,

Yes, you could claim just spousal benefits only effective with the month that you reach full retirement age (FRA) while allowing your own retirement rate to grow until age 70 provided that you were born before January 2 1954. However, if you claimed spousal benefits prior to FRA you would also be deemed to have applied . . . Read More

Category: Filing Options
Posted: Jan 19 2018 - 5:01pm

Will I Be Able To Collect Widow's Benefits From My 1st Husband?

I was married for 22 years and divorced, I remarried at age 45 and I'm currently divorced. My question is will I be able to collect widow social security pay from my 1st husband (marriage).

Hi,

Your subsequent marriage and divorce would not affect your potential eligibility for surviving divorced spousal benefits on your first husband's record.

Best, Jerry

Category: Divorced Widow(er) Benefits
Posted: Jan 19 2018 - 11:28am

If My Wife Draws Reduced Benefits Will Her Survivor Benefits Also Be Reduced If I Die Before She Reaches FRA?

I started collecting ss at 70 1/2. My wife is 9 years younger and just turned 62. If she starts collecting now based on my earnings since it is higher than if based on her earnings and I passed away before she reaches fra is she required to take the survivor benefit at that time or can she wait until her fra.
Thanks
Mel

Hi Mel,

When your wife is files for spousal benefits she'll be deemed to also be applying for retirement benefits on her own record. If she's eligible for both retirement and spousal benefits and you die before she . . . Read More

Category: Widow's Benefits
Posted: Jan 19 2018 - 11:15am

Should I Declare My UK Pension On My Application?

I am retired and 77 years of age. I am a legal alien and submit annual USA tax returns.I am about to apply for USA Social Security benefits and Medicare as spousal benefits. Do I declare my UK pension on this application?
Thanks

Hi,

I think you should list it on your application if you are asked about it, but your UK pension won't affect your spousal benefits. Foreign pensions are excluded from counting as government pensions for purposes of the Government Pension Offset (GPO) provision ( . . . Read More

Category: Foreign Pensions
Posted: Jan 19 2018 - 11:06am

What Does FRA Mean?

larry when they say FRA, does that mean that (my husband who starting collecting his SSA at a reduced benefit of age 64 (12/4/51...who is now 66. I will turn 66 on 3/5/52; I have filed for a restricted application at my age 66 (fra for me) but will I get half of his (FRA amount) not his reduced amt because he had to collect before 66 his (FRA?).
it has been six weeks and the website showing2/3rd ofapplication completed. but the process still not done. is that way too long? I had tosubmit our marriage license orginal and my husband had to sign the spouse form. we did all . . . Read More

Category: Spousal Benefits
Posted: Jan 19 2018 - 10:54am

Is My Grandchild Eligible For Benefits If My Husband And I Adopt Him?

Is my 13 yr old grandson eligible for benefits if my husband and I adopt him..We are his biological grandparents.

Hi,

Probably, assuming that either you or your husband (or both) are receiving Social Security retirement or disability benefits.

Best, Jerry

Category: Child Benefits
Posted: Jan 19 2018 - 10:40am

When Should I Apply In Order To File A Restricted Application For Spousal Benefits Only?

(Read your books.) To the point:
*My wife turns 62 in June. She is going to filling for her benefits.
*I turn 66 in August (14th) and plan to apply for the restricted spousal benefit and let mine continue to grow.
*The devil is in the details, that is, the nuances (dates) to make sure you are not submit to deeming. Do I have to Wait until AFTER the 14th to APPLY, wait UNTIL the next month to avoid any possible errors/mistakes to apply etc. Not concerned about losing one month of spousal benefit ($680) but risk losing the value of delaying my benefits. In . . . Read More

Category: Spousal Benefits
Posted: Jan 19 2018 - 10:29am

Will My Wife Be Eligible For Spousal Benefits In The Future If She Files For Her Own Benefits Now?

I am 60 and my Wife is turning 65. If she applies for benefits now under her work record - will she be eligible for spousal benefits when I reach 65 in another 5 years?

Hi,

Possibly, but could only receive additional spousal benefits if you are drawing your benefits and if her own full retirement age rate (PIA) is less than 50% of your PIA.

You and your wife may want to strongly consider using the maximization software available on this website to determine your best overall strategy for claiming Social Security benefits.

Best, Jerry . . . Read More

Category: Spousal Benefits
Posted: Jan 19 2018 - 10:19am

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