I see you revise book was written in early 2016. Are there new laws since the writing of your book?
Hi,
Larry's book (http://www.getwhatsyours.org/laurence-kotlikoff/) was updated in 2016 to incorporate significant changes in the Social Security laws passed by Congress in October 2015, which occurred after the original version of the book was released. The most substantial changes involved had to do with deemed filing (https:// . . . Read More
Larry, I'm writing on behalf of my sister. She is having difficulty deciding to apply for social security benefits.
Sister is 71 and continues to work full time. Cheers for good health. Her husband, former Federal employee, is retired through permanent disability related to employment - OWCP. Sister lives in South Carolina, which I believe does not tax social security benefits. She is aware the benefit amount will no longer increase with age and that she will not receive benefits for the time period where she did not apply.
Are there any reasons that my sister . . . Read More
Although the File and Suspend strategy has little application today, one time that it is useful is when you have an adult child with disabilities. My understanding is that there is a two-year waiting period to be eligible for Medicare. I've suspended benefits while waiting to reach age 70. When I do start receiving benefits, my child will be eligible for 50% of my benefit plus Medicare.
Hi,
Yes, I agree. Your child could potentially complete his or her 24 month qualifying period for Medicare eligibility while your benefits are suspended, even though . . . Read More
My husband took his SS at age 62. He was born 8/42. He is now 74 and quite ill. I am 62, DOB 5/55. What will my survivor benefit be reduced by because he filed early? Should I delay filing for my own SS?
Thank you.
Hi,
I'm sorry to hear about your husband's illness.
If your husband received reduced retirement benefits starting at age 62, your maximum possible widow's benefit rate will likely be 82.5% of his primary insurance amount (PIA). His PIA is basically the amount that he would be receiving now if he had waited until full . . . Read More
I'm 66 yr, employed and chose to collect half of my husband's social security allowing mine to increase until age 70. Will my personal amount at age 70 increase as I'm still employed or Is it based on amount on date I filed for half of spouses
Hi,
Your retirement benefit rate can increase through a combination of 2 factors. First, your primary insurance amount (PIA), which is often referred to as your full retirement age rate, can be increased if you continue working. Your PIA is based on your highest 35 years of wage-adjusted earnings ( . . . Read More
Hi Larry!
Nearly, two years ago, I started to collect Social Security benefits due to an extended unemployment period and some, at the time, worrisome health-related issues. I was 62 at the time and now I am almost 64 and I am soon to be offered the job of a lifetime with a six-figure income. What happens now?
Thanks, in advance, for your time and consideration!
Best Regards!
LEE
Hi Lee,
The earnings test (https://www.ssa.gov/planners/retire/whileworking2.html . . . Read More
I'm 61 will be 62 in November I'm o. SSD can I work any without it hurting my SSD I read some on it an says you can I just wondering if this is true thanks Brenda
Hi Brenda,
If you're receiving Social Security disability benefits and not Supplemental Security Income (SSI), you can generally earn up to $1170 per month without losing benefits. For more details, refer to this Social Security publication: https://www.ssa.gov/pubs/EN-05-10095.pdf.
Best, Jerry
Hi Larry
My father has passed away recently , is my mother eligible for Survivors benefits even though she makes little more?
Hi,
I'm sorry for your loss.
The answer to your question depends on your mother's age among a number of other factors, so I can't really give you an answer. You may want to refer to Social Security's website: https://www.ssa.gov/planners/survivors/ifyou2.html.
Best, Jerry
My ex-husband and I were married for well over 10 years. I will be 66 in October 2017. He will be 62 in December of 2017. When he reaches 62, can I claim on his and then wait to claim my full SS when I turn 70?
Hi,
Yes, provided that you are unmarried, and have either been divorced for at least 2 years, or your husband is receiving benefits on his own record.
Best, Jerry
Larry I am 64 and will turn 65 in aug my wife is 65 and will turn 66 in June We can defer one or both of our ss benefits. She will probably out live me. Can she get sposal benefits from my benifits then when she is 70 get her full benifits? Also could I get sposal benefits from her at the same time as she does and wait till I'm 70 to take my full benefits.
Thank you
Hi,
One of you must be drawing benefits on your own record in order for the other to file for spousal benefits. So, you can't both receive just spousal benefits while letting your . . . Read More
Results will differ based on your specific case and filing strategy.