I am turning 66 in Sept 2017, still working, if I begin taking SS benefits 9/1/17 at full retirement age, will I be penalized for the first part of the year that I worked.
Hi,
No. You can be paid starting with the month you turn full retirement age, regardless of how much you earn before or after that. You may want to consider running the maximization software available on this website before you file, though. You may have better filing options available to you.
Best, Jerry
How do I know, or find out if I am receiving extra income from Social Security for serving in the US Army in 1970_1971
Hi,
The extra income you're referring to are deemed military wages (DMW). During the time you were in the service, Social Security credited you with an extra $300 in wages over and above your actual wages for each calendar quarter (e.g. Jan-Mar, etc.) in which you had active duty (https://www.ssa.gov/OP_Home/handbook/handbook.09/handbook-0953.html). . . . Read More
As a widow, am I entitled to my husband's social security though I remarried at the age of 54? And if things don't workout in my marry, if I divorce, am I entitled to my deceased husband's social security? And, if I decide to remarry again will my deceased husband's social security benefits cease?
Thank you!
Hi,
Remarriage prior to age 60 normally bars entitlement to widow's benefits on the account of a former spouse for the duration of the remarriage. The only exception to that is for a widow who remarries after age 50 and is eligible for . . . Read More
I just turned 70 and applied on line based on my own earnings record. My husband filed in October 2016 at age 70 and is still working. SS contacted me and explained 3 options: 1) file on my record at age 70, receive $3473 monthly; 2) file on my record at age 70, receive $3473, plus 6 months spousal benefit of $8,000+; or 3) receive reduced benefit of $3368 based on age 691/2 retroactive filing age and lump sum spousal benefit of $23, 084. Option 2 is attractive, but seems too good to be true; what would the downside be, since I would receive my age 70 benefit of $3473, plus a 6 . . . Read More
My husband is waiting until 70 for delayed retirement credit. He has an ex-wife who will be filing under his record as she is allowed to do. If she files earlier than him, does that jeopardize his increases promised for delayed retirement?
Hi,
No, regardless of when or if your husband's ex-wife's receives benefits on his record, it won't have any effect on his delayed retirement credits. Nor would her entitlement have any effect on what you could potentially receive as a spouse on your husband's record.
Best, Jerry
My parents are in their 80's. My mom did not work while we kids were living at home. After the youngest left for college, she worked for 10+ years at relatively low-paying clerical jobs. I assumed she has been drawing a SS spousal benefit, since my dad's SS is significantly higher than hers. She just mentioned that she has only been getting SS based on her own earnings, because they are under the impression that if she takes a spousal benefit, it would reduce the amount my dad receives, and/or the amount that she would receive if he dies first.
I told them that based on . . . Read More
My dad is 67, and is a legal resident with a green card, in 2016 he lost his job and applied for social security with the credits he had from working in the US since 2002. In June of 2016 he applied for his Portuguese pension, and started receiving his Portuguese pension in October. We were told that Portugal had an agreement with the USA and that he needed to declare his foreign pension to Social Security and declare his pension in his income taxes in the USA, instead of doing his taxes in Portugal for that money. When it was time to do his taxes, we were completely lost. We . . . Read More
Hi Larry:
While at full retirement age 66 and working full time, I applied for and received SS benefits from my ex-spouse (living). Then, 6 months later, I retired and changed over to collect SS from my own account. Now, SS is billing me for the full amount I collected from my ex-spouse SS , the 6 monthly benefit payments and the 6 month retroactive benefit.
I had the understanding this was a recommended path to follow so my own SS would increase. The local SS office maintains they are due all monies from my ex-spouse's SS.
And of course, I got this 13k . . . Read More
Hi Larry, I am 64 and retired. My husband recently died at age 66 and had not filed for social security benefits. My social security benefit will be more than my husband's so I plan to take survivor benefits until I am 70 then file for my own benefit. I understand the survivors benefit is reduced prior to my reaching FRA. If I take survivor benefits early at 64, will I receive less social security payout in total compared to taking survivor benefits at FRA? Thanks for your advice!
Hi,
I'm sorry for your loss.
Assuming that you are correct about . . . Read More
Complicated Max Family Benefit question due to adopted grandchildren who are currently drawing a survivor benefit. My wife and I are preparing to retire and collect SS at 62 . We are raising and adopted our 2 grandchildren. Their father (our son) is deceased and they each receive $1000 a month survivor benefits. Having a hard time finding info on how the combined family maximum works in our situation, Our numbers. My PIA is $2765, my benefit at 62 will be $1967.My total family benefit is $4803. My wifes PIA is $625, her benefit at 62 will be $450. Her total family benefit is $ . . . Read More
Results will differ based on your specific case and filing strategy.