Ask Larry: Questions and Answers

I am 65(4-5-52) and my wife is 61(11-12-55). I am not collecting SS. We can wait to start receiving our benefits. My question is would it be best for her to file at 62 then for me to file a restricted application at 66. My understanding is that I can receive half of her FRA amount until I am 70 then switch to mine. What are the pros and cons? Thanks, Mike

Hi,

The positive would be that you could potentially receive spousal benefits for 4 years while allowing your own benefit rate grow until age 70. The negative is that your wife will be stuck with a . . . Read More

Dear Larry,

I am considering retiring at age 62, which will be May 2018 (62 plus one month). My current PIA is $1138. My wife will be 54 when I take early retirement; however, we will have three daughters ages 16, 11, 8 by May 2018. My wife is a traditional homemaker who takes care of these three children. Can you tell me what the MFB would be for us (We also have another daughter who will be age 18 by May 2018)?

In addition, I am working and making $10.50 per hour as a Security Officer and last year I made about $21,000 dollars. Can you tell me how much this . . . Read More

Hi Larry : I was checking on social security and just happened to find your site. I am 62 years old and have been on ssd for about a year now and I was a chef for the 39 years before I became disabled . I want to work part time and I know i can earn an unlimited amt . After the 9 month period I am tied into $1.170 per month's that gross wages or net. I do not understand what constitutes a 5 th week and how it works what amt of hours can I work and how do I figure this out without going over? And, do I report my earnings to social security every week or bi -weekly depending on . . . Read More

My husband turned 66 in February and has since started receiving his Social Security benefit. He is still working and hopes to be able to for a few more years. I am fixing to turn 64 and have not worked for about 5 1/2 years but would like to go back to work soon. We are thinking it would be good for me to begin working part-time, hopefully at home, then eventually go back to working full-time. I hope to be able to work a few more years also. We are trying to decide if it would be better for me to start receiving Social Security now or better to wait. My husband's benefit is . . . Read More