Do I Need To Be Concerned?
Larry, I am turning 66 in June, My wife is 63 and already claiming Social Security. I did my research and went into the local social security office to file a restricted application for my wifes spousal benefits only, so I will continue to earn Delayed Retirement Credits. The agent I talked too did not seem familiar with restricted applications and said I needed to file for spousal benefits based on my wifes record. I did not think that was correct and asked if he could check about filing a restricted application with a specialist in the office, but he said he was the . . . Read More
Category: Filing For Benefits
Posted: Apr 26 2017 - 7:03am
How Much Would My Wife Receive?
Larry,
Thanks for answering my general question. To help me get a better understanding, I would like to use actual numbers. My wife is 66 and has been receiving her own benefit since age 63. Her reduced benefit is $585 and her full PIA is $726. I am 62 and my reduced benefit would be $2175 and full PIA of $2775. Using these numbers how would I calculate my wife's excess spousal benefit if I filed right now?
Thanks for the help with the math.
Hi,
You'd simply divide your PIA in half, then subtract your wife's PIA. The resulting excess . . . Read More
Category: Spousal Benefits
Posted: Apr 26 2017 - 6:55am
Will My Earnings Prior to My Month Of Entitlement Count Toward The Earnings Test?
I will begin receiving a Child in care spousal benefit in October, 2017. I am 59. I am currently working and will have earned around $70,000 this year up to that October starting date. Will those earnings be considered for the Earnings Test this year or will they only consider my income from October through December in determining whether the test will limit or eliminate my benefit?
Hi,
Your earnings for the entire year count toward the 2017 annual earnings test exempt amount of $16,920 ( . . . Read More
Category: Earnings Test
Posted: Apr 25 2017 - 3:07pm
Am I Eligible For Any Additional Benefits?
I my husband of 30 years died in 20022l
He W 20 years old er than me
Quit my. Job to take caRe of him..I.later w las SO DEPRESSED I.got disability ss. He died..I now have a 14 year.s/o.he has diavetid..Pad.can't do anything I do Everything. I am.so tired and have terrible back. I HURT ALL the time. I f. Eel I.should get some better benift OU r I have to go work HELP
Hi,
I'm sorry for your loss.
I'd like to help you, but I don't have enough information about your circumstances. If your husband died and you are at least age 60, or . . . Read More
Category: Widow's Benefits
Posted: Apr 25 2017 - 2:53pm
Do I Qualify For Any Widow's Benefits?
I just turned 60 April 2017. My husband passed away 2001. I work full time and make around $40,000 per year. Do I qualify for any widow benefits?
Hi,
It sounds like you qualify for widow's benefits, but whether or not you could receive any benefits depends on your potential benefit rate. Social Security would withhold $1 of benefits for every $2 that you earn in excess of $16,920 this year (https://www.ssa.gov/planners/retire/whileworking2.html).
Your best filing strategy is . . . Read More
Category: Widow's Benefits
Posted: Apr 25 2017 - 8:40am
Can You Help Me With My Calculations?
Larry,
My is 66(9/13/50) and is receiving her own SS, which she began taking at 63. I am 62(12/11/54), not receiving any SS. I am trying to determine when to apply to for my SS to max mine and her spousal benefits total dollars over the long haul Will ur program help with this or does someone know the equation used by SS to calculate excess spousal benefits for my wife. I know my full PIA as well as my wife's full PIA.
Can u help me with this calculation?
Thanks
Hi,
Yes, the maximization software available on this website can . . . Read More
Category: Spousal Benefits
Posted: Apr 25 2017 - 8:29am
Will I Lose Benefits If I Remarry?
If I remarry at 70 years old would I lose any if my Sociial Security.I have been devorced since 1989.
Hi,
That depends on the type of benefits you are currently receiving. Remarriage would not affect retirement benefits paid on your own work record, nor would it cause widow's or surviving divorced spousal benefits on a deceased former spouse's record to terminate. Remarriage would, however, terminate entitlement to divorced spousal benefits on the record of a living ex-spouse in almost all cases ( . . . Read More
Category: Miscellaneous
Posted: Apr 25 2017 - 8:21am
Is There Any Way For Me To Increase My Benefit Rate?
I have been reading all of your questions and answers about SS benefits, and I decided to ask you one of my own, because I can't find a similar questions. I am 78 and started collecting SS when I was 62. My husband is 68 and he, also, started collecting when he was 62. We own a business (both still working), but it took a drastic downturn several years ago, and taking SS early helped us through this situation. We are both in excellent health and plan to continue working for at least 2 more years. My question: Is there any way I can increase my SS payment at this late date ( . . . Read More
Category: Spousal Benefits
Posted: Apr 25 2017 - 8:04am
Should I File And Suspend My Benefits?
I am going in May to Social Security to apply for spousal benefits. My husband thinks I must first file and suspend and then file for spousal benefits. I read your first book. My husband filed and suspended before April 2016. His birthdate is 2/2/1949. My birthdate is 5/11/1951. We both have more than 35 years of work history. I am desperate for your answer. I am going to write the sentence on my sheet at social security that this does not apply to my retirement benefits. It is the statement that I copied off the question and answer sheet (your website). I do not believe I need . . . Read More
Category: Filing Strategies
Posted: Apr 25 2017 - 7:56am
Why Did My Projected Benefit Rates Go Down?
I am 64. I just received my annual Social Security statement and am horrified to see that the predicted benefits that I would receive were I to retire at 64, 66, or 70 have all gone down by about 18%. This makes a huge dent in my plan to retire in two years.
How did this happen? Was there a legislative change that was not well publicized? Is there a new calculation method in use?
Hi,
There haven't been any legislative changes that would explain the 'reduction' to which you refer, nor has the calculation method changed ( . . . Read More
Category: Retirement Benefits
Posted: Apr 25 2017 - 7:46am
