Ask Larry: Questions and Answers

Displaying 7041 - 7050 of 10063 questions.

What Widow's Benefits Can I Receive?

My husband (deceased) passed away before collecting his ss (58). The last statement I received from ss showed what he would have received at his retirement age of 65. this amount is equal to what I will collect (from my statements) at FRA of 66. What if any widow's benefit would I receive from his SS?

Hi,

I'm sorry for your loss.

You don't mention your current age or whether or not you are working, so I can't address your question with much specificity. However, your best strategy is likely one of the following:
1) File for reduced widow . . . Read More

Category: Widow's Benefits
Posted: Nov 12 2017 - 11:30am

Can My Wife Come After Me For Child Support?

I'm going through a divorce now in new york,, we have been married for 10 years and have 2 young kids. I went on disability 5 years into marriage and my wife is a school teacher..... court has been a nightmare , my wife's has a paid lawyer and mine is court appointed, and refuses to answer any questions I have.. I will try and ask this as least complicated as possible, I make $15,000 a year , my soon to be ex makes $70,000. Since my wife has kids 51% of the time she takes the $600 a month that my disability gives for my 2 kids, our attorneys want to settle this outside of court . . . Read More

Category: Child Benefits
Posted: Nov 12 2017 - 11:17am

Can I Suspend My Reduced Widow's Benefits In Order To Get An Unreduced Rate In The Future?

My husband was on SSDI April 2006 at age 56 and passed away Oct. 2011 at age 61. He worked for 32 years and his last income was at 99,000/year. I started collecting survivors benefit when I retired at age 60 after working for 32 years. My last income was 68,000/ year. Can I suspend this benefit until I am 70 1/2 years old to get a full benefit from him?

Hi,

I'm sorry for your loss.

No, you can't voluntarily suspend widow's benefits. And, there would be no point in doing so after you reach full retirement age because you don't earn delayed . . . Read More

Category: Widow's Benefits
Posted: Nov 12 2017 - 10:54am

Can I Collect Retirement Benefits When My SSDI Ends?

I became disabled due to kidney failure but have recently received a kidney transplant. It is my understanding that SSDI will cease one year after transplant. I will be 63 at that time. Can I collect retirement and if so, how can I figure how much my retirement will be. I know it will be less than my SSDI which is only $1195 per month. I have worked part time the past 3 years only making $10-11,000 each year.

Hi,

Your SSDI (Social Security disability) benefits won't necessarily terminate at any time after your transplant. Your SSDI would only . . . Read More

Category: Disability Benefits
Posted: Nov 12 2017 - 10:35am

Can I Draw My Deceased Husband's Benefits?

I became disabled in 2015 and my husband died in Dec 2013, he would have been 65 in June of this year 2017 Can I draw his benefits, He was qualified to draw?

Hi,

I'm sorry for your loss.

If you are at least age 50 and disabled or at least age 60, then it sounds like you could potentially qualify for widow's benefits. Depending on your own work history you may also have other filing options available to you, so you may want to consider using the maximization software available on this website to determine your best filing strategy.

Best . . . Read More

Category: Widow's Benefits
Posted: Nov 11 2017 - 8:02am

How Would Our Child's Benefit Be Calculated?

My husband and I both receive social security retirement benefits. How would benefits for a minor child be calculated as long as both of us are alive?

Hi,

The basic benefit rate for an eligible child is 50% of the full retirement age rate (PIA) of the parent on whose record they are entitled. And if a child is entitled on more than one living parent's record, they can only be paid on the record of the parent with the higher PIA (https://secure.ssa.gov/apps10/poms.nsf/lnx/0300615770 . . . Read More

Category: Child Benefits
Posted: Nov 11 2017 - 7:46am

Why Did Social Security Change Their Payment Dates?

If you file for Social Security benefits May 1, 1997, or later, you are assigned one of three new payment days based on the date of birth of the person on whose record your entitlement is established (the insured individual): https://www.ssa.gov/OP_Home%2Fhandbook/handbook.01/handbook-0121.html

My question is why did the SSA do this? What was the reason the birthdate payments after May 1, 1997? Can you post a link on the rationale for doing this? Thank you--

Hi,

. . . Read More
Category: Payment Dates
Posted: Nov 11 2017 - 7:12am

Should My Husband Sign Up For Medicare If We're Living In Germany?

Hi Larry,
My husband collects his early retirement social security as of his age of 62 he reached this past October 2017. We live in Germany and have a German private medical insurance. In the Social Security booklet sent to us, it is stated
.......Because Medicare benefits are available only in the United States, it may not be to your advantage to sign up and pay the premium for medical insurance if you will be out of the United States for a long period of time. However, if you do not sign up, be aware that if you later do so, you will pay a 10 percent higher . . . Read More

Category: Medicare
Posted: Nov 11 2017 - 6:50am

Do I Need To Apply For Retirement Benefits If I'm Already Receiving Disability Benefits?

I’m confused, based on information you gave “Tim” to apply for disability ben. 1st, then reg. SSA ben. later 70. Well, I must have missed something. I’m on disability since 11/1999 (age 44), have reached 62 (7/2017). It is my understanding from SSA that you only get one benefit.. if you work until 62 or full retirement age or 70, you get regular SSA retirement ben.; if you obtain permanent disability (all that SSA has - theirs is not graded by % like military) you get that benefit at whatever age approved but when you reach a normal early to 70 retirement age, you still keep . . . Read More

Category: Disability Benefits
Posted: Nov 10 2017 - 12:04pm

How Much Can I Earn In 2018 Without Incurring A Penalty?

If I retire in 2018 at age 66, how much can I earn without incurring a penalty?

Hi,

There is no limit on earnings starting with the month you turn your full retirement age of 66. And if you earn less than $45,360 in the months prior to the month in which you turn age 66, you could potentially draw benefits starting with January 2018 without losing any benefits to the earnings test.

Before deciding on when to file, though, you should strongly consider using the maximization software available on this website in order to explore your options and . . . Read More

Category: Earnings Test
Posted: Nov 10 2017 - 11:53am
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.