Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 6981 - 6990 of 10063 questions.

Can My Wife Start Drawing Her Social Security At Age 62 And Still Get A Full Railroad Spousal Benefit Later?

I am 64 and am currently on RRB occupational disability. My wife just turned 62 on (/3/2017). I have been led to believe that she could file for reduced SS benefits at 62 on her own earnings, which were meager and will only net her a monthly premium of $628. Then when she turns 66 and 2 months, she can file for her RRB Spousal benefit which at this date figuring roughly half my current RRB premium is around $1350. My question is, since her social security on her earnings is certified with the RRB Board, will her filing at 62 for reduced SS benefits in any way reduce or . . . Read More

Category: Railroad Retirement & Social Security
Posted: Nov 25 2017 - 11:10am

Could I Start Collecting On My 1st Husband's Record Next Month And Change To My 2nd Husband's Record In 2024?

My first husband turns 62 on December 17th of this year (2017). My second husband (who will get far more than my first for social security) won't turn 62 until 2021. First marriage lasted 23 years, second lasted 13. I am 60. I had planned to start collecting on my second husbands SS in 2024 when I am 67 years old. Would I be able to start collecting on my first husbands SS next month and change it to my second husbands in 2024?

Hi,

Not exactly. First of all, you couldn't draw divorced spousal benefits on a living ex's record until you are at least . . . Read More

Category: Divorced Spousal Benefits
Posted: Nov 25 2017 - 7:09am

Is There A Limit On The Income I Can Earn If I Work Past Age 67?

Hi Larry,

I am planning on working full time (>40 hours/week) until I reach age 67 (October 2018). I am currently collecting a spousal benefit and my wife is 62 and is collecting her retirement benefit. If I apply for my full retirement benefits at age 67, and my wife files for her spousal benefit at the same time, is there a limit on the amount of income I can earn if I continue to work full time past age 67?

Thank you.

Regards,
George

Hi George,

No, but you still may want to strongly consider waiting until age 70 to . . . Read More

Category: Miscellaneous
Posted: Nov 25 2017 - 7:01am

Could My Son Receive Benefits From Both Parent's Records?

Hi Larry my son who is 13 yrs old is receiving ss from his mother who has passed , my question is I'm now 62 and wonder if he could receive ss from both of us or do they take only the higher earner?

Hi,

Your son could only receive child benefits on one record at a time, whichever is higher. And, you would have to be drawing your benefits in order for your son to potentially qualify for benefits on your record. You may want to consider using our maximization software in order to determine the best filing strategy for you and your son.

Best, . . . Read More

Category: Child Benefits
Posted: Nov 25 2017 - 6:53am

Can I Now Draw Social Security?

I retired from the railroad 21 years ago on a disability. Since then I have worked enough to qualify for social security. Can I now draw social security on what I have earned the last 21 years.

Hi,

Yes you can, assuming that you are at least age 62. However, if and when you file for Social Security (SS) benefits the Railroad Board (RRB) will only pay you the higher of your Social Security benefit rate or your Tier 1 Railroad Retirement (RR) rate, in addition to any Tier 2 RR benefits to which you are entitled.

Before filing for Social . . . Read More

Category: Railroad Retirement & Social Security
Posted: Nov 24 2017 - 12:20pm

Which Years Are Used To Calculate Retirement Benefit Rates?

If one stops working at 62 and plans to draw social security at 70, I understand that Social Security calculates monthly paid by SSA for the last 35 years worked/income. If one does not work from 62-70 (8 years) their income would be zero. Are these years calculated/included OR only the last 35 years worked with income? If the person has monthly pension (military) during the 8 years, is this included in the 35-year calculation with social security even though the person did not work during the 8 years? Thank you!

Hi,

Social Security doesn't necessary . . . Read More

Category: Retirement Benefits
Posted: Nov 24 2017 - 12:11pm

What's Wrong With This Picture?

Im a 100% disabled vet
I have also been getting SSDI
When i turned65 social security switched me from ssdi to my regular social security.
I know for a fact that i did not make more on ssi then i did on ssdi. Whats wrong with this picture

Hi,

I'm not sure I'm following. First, your Social Security disability benefits (SSDI) would automatically convert to regular Social Security retirement benefits at your full retirement age (FRA). If you were born between 1943 & 1954, that would happen at age 66 rather than age 65. And, in . . . Read More

Category: Disability Benefits
Posted: Nov 24 2017 - 12:01pm

Can I Draw A Railroad Retirement Benefit Without Reducing My Social Security?

I worked for the usps for 9 years and paid into both RRB and SS. My husband passed away in 2011 and I have been receiving survivors SS benefits since. Am I also eligible for any RRB ? Can I draw both without reducing my current SS benefit?

Hi,

I'm sorry for your loss.

Your Social Security (SS) wouldn't be reduced if you file for Railroad Retirement (RR) benefits, but RR would only pay you the higher of your SS benefit amount or your Tier 1 RR amount, plus any Tier 2 RR benefits for which you may be eligible. You should probably check with the . . . Read More

Category: Railroad Retirement & Social Security
Posted: Nov 22 2017 - 5:39pm

Will I Have To Wait Until The Next Regular Payment Date To Receive My First Check?

The website still says my claim is under review (quality control) since 11/2. Over a week ago, my lawyer called and said they spoke with.SSA, and my claim was approved. It was approved without any appeals in approx 60 days. Today would be my scheduled pay date and nothing was deposited. Will I have to wait until 12/27,.or could it post to my account earlier?

Hi,

Your first payment could come at any time. When Social Security owes back pay for previous months, they don't wait until the regularly scheduled payment date to make their initial payment. . . . Read More

Category: Payment Dates
Posted: Nov 22 2017 - 12:18pm

Can A Great-Grandchild Qualify For Benefits On A Great-Grandparent's Account?

Can a great-grandchild qualify for benefits on a great-grandparent's account?

GGC's mother died at age 18 (suicide); no acknowledged father -- mother refused to name one on birth certificate, and purported father disavows that he was father because mother was involved with other partners at the time. GGC is being raised by her maternal grandmother (GM), who may not have enough credits and is too young to file for retirement benefits (age 49), and her maternal grandmother's father (GGF - age 82) who is retired and receives Social Security. Both are applying for co- . . . Read More

Category: Child Benefits
Posted: Nov 22 2017 - 7:30am

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