Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 7311 - 7320 of 10063 questions.

How Can I Make Sure To Avoid Signing Up For Something That's Not In My Best Interest?

My husband and I are both working at age 67 and 66 respectively. He decided to apply for his social security benefit based on already qualifying for maximum $ benefit.
When he did so on the telephone, the agent said: I see your wife has not applied and is still working. She advised that I apply for spousal benefit while I continue to work (my benefit is not at the maximum but may be after another 4 years of contributions).
I have read your book and all the scary scenarios where eventual benefit at age 70 turns out to now be the spousal benefit. How can I make sure . . . Read More

Category: Filing For Benefits
Posted: Sep 25 2017 - 5:47am

Will My Father-In-Law Be Eligible For Additional Benefits?

My father-in-law just lost his wife and they were both receiving social security. Will he be able to claim survivor benefits in addition? I believe he receives more than she did, but is struggling without the extra income she brought in from social security. A friend informed us he wouldn't receive anything more.

Hi,

The surviving member of a couple normally just gets the higher of their two benefits, so it sounds like your father-in-law probably won't be eligible for any additional monthly benefits unless his wife's rate was higher than his own . . . Read More

Category: Widow(er) Benefits
Posted: Sep 25 2017 - 5:37am

Is There Any Way To Get Some Of My Zero Earnings Years Off Of My Record?

Admittedly I have lived on the fringe of society partly out of choice and partly out of necessity and as a result have several 0's in my earning years. I have earned enough to qualify for SS retirement benefits though small. Early in my working career I had several jobs which were under the table, some were voluntary but generally it was a mandatory condition in order to work. A couple of the employers simply cheated and never paid the taxes even though my checks showed the deductions. I am sure that I have none of those cks to prove it although I'm also sure those employers . . . Read More

Category: Earnings Subject To Social Security Taxes
Posted: Sep 25 2017 - 5:19am

Why Were My Niece's Benefits Reduced?

My niece was born with spina bifada, my sister has had her on ssdi all her life. My niece is 40 now and has been drawing the same amount all these years but now since her mother has been deemed disabled and drawing a check, my nieces benefits have been lowered. In case it is relevant my niece has not lived in the same household as her mother for 25 years at least. My question is why her social security disability has decreased. Why would my nieces benefits decrease just because her mother is now on disability?

Hi,

I'm sorry to hear about your niece's . . . Read More

Category: Miscellaneous
Posted: Sep 24 2017 - 7:51am

Why Are Medicare Premiums Withheld From My Benefits If I Paid Medicare Taxes While I Worked?

I worked for over 55 years and contributed to Medicare all those years. Why, now that I have retired, does Social Security still deduct Medicare insurance premiums from my monthly social security benefits?

Hi,

The Medicare taxes collected from wages fund only Part A (Inpatient Hospital) coverage under Medicare. If you sign up for other parts of Medicare then you must pay a monthly premium.

Best, Jerry

Category: Medicare
Posted: Sep 24 2017 - 7:46am

Can I Receive Spousal Benefits?

Can I receive spousal benefits? I turned 65 in 12//2015. My spouse is retired, age 75 and receiving social security benefits. In April of 2016 I was told by social security I could not receive spousal benefits due to the laws passed in Nov 2015. I recently (Sept 2107) learned that I can receive spousal benefits by filing a restricted application. My goal is to continue working until age 70 and if allowed collect spousal benefits.

Hi,

Yes, if you aren't already drawing benefits on your own record it sounds like you could file a restricted application . . . Read More

Category: Spousal Benefits
Posted: Sep 24 2017 - 7:33am

Can I Get A Do-Over?

I started taking Social Security at 62; I didn't realize at that time that I was entitled to collect on my ex-husband's social security (having been married for nearly 30 years) and allow my SS to continue to grow. And, of course, SS didn't tell me. My ex is 2 years older than me. Recently, I have been talking with some friends and they told me that I could now be collecting my full benefits had I been taking my husband's up to this point. I turned 70 in July. Is there anything I can do at this time to collect the maximum amount on my social security. i.e. pay SS back the . . . Read More

Category: Miscellaneous
Posted: Sep 24 2017 - 6:59am

What Should I Do?

I will be 64 years old in October 2017. I retired 2 years ago in November 2015 and I was 62. I started collecting ever since. I am asking, Is there any way I can collect from my husband social security instead of mine. I am making lest money and he is making more. How is that be possible? What should I do.

Hi,

You can check with Social Security to see if you're eligible for spousal benefits, but you will only qualify if your husband is receiving his benefits and 50% of his full retirement age rate (PIA) is higher than your own PIA.

Best, Jerry . . . Read More

Category: Spousal Benefits
Posted: Sep 24 2017 - 6:54am

Can You Clarify This For Me?

The MMSS tool consistently maximizes my benefits by recommending filing for my survivors benefit first and then switching to my retirement benefit at age 70. This is true over numerous what if scenarios with my age at the time of filing from anywhere between 61 and 64. Yet even with modest income projections, my retirement benefit surpasses my deceased wife's PIA at around age 62. This would appear to conflict with the last statement of the following excerpt from the "What's Under The Hood" document on the MMSS website:

31. Widow(er)’s insurance benefits
If you . . . Read More

Category: Filing Options
Posted: Sep 24 2017 - 6:47am

Can I Earn More Than $1410 In Some Months As Long As I Earn Less Than $16,920 This Year?

Hi Larry,

I am 60 years old and have taken the widower's benefit. My annual this year will be around $16,000. I have 4 months under $1410, two months with no income, and the remaining 6 over the $1410. Is it okay to make over the $1410 on those 6 months as long as I don't exceed the $16920? I really would want to avoid having any amounts held back next year. Next year my income will be more predictable with a monthly $1410 and I would not be able to make it if I were to lose a social security check along the way. Thank you.

Hi,

Yes, if you . . . Read More

Category: Earnings Test
Posted: Sep 24 2017 - 6:41am

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