Will My Bonus Count Toward The Social Security Earnings Test?
I was "retired" by my company in March, 2016, at age 65. I had planned on starting social security in May, 2017, at my FRA of 66. I have no earned income from employment since March, 2016, although have had distribution from an IRA. In February, 2017, I received a check from my previous employer for a bonus based off my time with the company in 2016. They withheld Federal, State, and Social Security taxes from the check. Since I am no longer employed by this company, will this amount from my previous employer received in 2017 count toward the Earnings Test for 2017? And thanks . . . Read More
Category: Earnings Test
Posted: Apr 4 2017 - 6:45am
Will My Wife's Widow's Benefits Be Reduced If She Takes Her Own Benefits Early?
I turn 66 this September. At that time, I will be elibible for full retirement benefits. My wife is 4 years younger. She turns 62 in October. With my earnings record, I will receive close to the maximum benefit. My wife, on the other hand stayed at home to raise our children and did not work full time. She would qualify for marginal benefits ( I think they are around $100.00/ month at full retirement age), so she basically has no benefits of note. If she starts collecting spouse benefits at 62, and I were to die in 4 years after she has reached full retirement age would her . . . Read More
Category: Widows Benefits
Posted: Apr 4 2017 - 6:30am
Is There A Time You Should Avoid Filing?
Aloha. I am trying to help a family member who was born in 1951 and so (I think!) he qualifies for Social Security benefits when he turns 66 in August. He said that he is concerned about applying during a “rat hole” - a relatively short period of time after one qualifies during which benefits are calculated at a lower value. Do you understand the term, and is there any reason that he should not just file on schedule in August? Any clarification would be greatly appreciated!
Hi,
I'm have no idea what your family member is referring to. He would be . . . Read More
Category: Retirement Benefits
Posted: Apr 4 2017 - 6:15am
Can My Husband Receive Spousal Benefits Before I File For My Benefits?
My husband is 2 years older than me. He began drawing his Social Security at age 62. When he reaches age 65, can he draw Spousal Benefits from my social security (as it will be $500/month more than his) until I begin drawing Social Security (I plan to retire at age 65 and 4 months)?
Hi,
No, your husband can't receive spousal benefits until you start drawing your benefits.
Best, Jerry
Category: Spousal Benefits
Posted: Apr 4 2017 - 6:15am
Can I File For Reduced Retirement Benefits Now, And Get Unreduced Spousal Benefits Later?
I am 64, my birthday is 3/3/53. My husband is 64. His birthday is 7/27/52. He will retire on his full retirement age in 2018. My ss retirement benefit right now is $710 a month. At my full retirement age it will be $814. At age 70 it will be $1,075. My husband 's ss retirement benefit at full retirement age will be $2,722. Can I file a restricted application for my benefit now, and then get a spousal benefit when I reach full retirement age in 2019, even though my husband will start receiving his benefit 8 months earlier?
Thank you
Hi,
You . . . Read More
Category: Filing Strategies
Posted: Apr 3 2017 - 2:45pm
Can I File & Suspend My Benefit And Still Get Spousal Benefits?
Can my husband collect on his primary and get the difference from mine which is higher.
I deferred &suspended until 70. So now that he collected on his primary can I get half of his till i reach 70 then apply for mine a much higher benefit
Hi,
If I understand your question correctly, the answer is no. The only way that your husband could be eligible for a spousal benefit on your record is if you file on your own record. And, the only way that he could receive spousal benefits while your benefits are suspense is if you suspended your . . . Read More
Category: Filing Strategies
Posted: Apr 3 2017 - 2:30pm
When Can My Wife Start Getting Spousal Benefits?
I am currently on SSDI and will be 62 at the end of this year, my wife will be 61 in July, when can she apply and what percentage would she receive.
Hi,
Your wife could be eligible for spousal benefits as early as age 62, or possibly even earlier if she has a child in her care who is eligible for benefits on your record (https://www.ssa.gov/planners/disability/dfamily2.html).
Unreduced spousal benefits are paid at a rate of 50% of the worker's primary insurance amount (PIA . . . Read More
Category: Spousal Benefits
Posted: Apr 3 2017 - 8:00am
Can I Get Additional Benefits When I Turn Age 62?
Hi, I started getting disability in 2010. My husband died, then I got Widow's Benefits. Now, I just turned 62 years old. I have not worked since age 33. However, prior to age 33 I did work 13 years. My question is this: Since I am getting Widow's Benefits can I get extra money now that I turned age 62? Thank you, Stormy
Hi Stormy,
I'm sorry for your loss.
If you're already receiving Social Security disability (SSDI) benefits, you would almost certainly not be due any additional benefits. SSDI is basically just the equivalent your full . . . Read More
Category: Disability Benefits
Posted: Apr 3 2017 - 7:45am
Can Social Security Stop My Disability Benefits Even If I Earn Less Than $1170 Monthly?
Larry, I have been on permanent SS disability since 2010, and didn't work anywhere. I got tired of sitting at home so I decided to go to college. I graduated with an associates degree in nursing thinking I might be able to perform this job (I worked 30 years in heavy industrial work and figured a nursing job HAD to be less physically demanding). After 10 months (my 9-month trial period and 1 month into the additional 3 months your given) I could no longer hold up to full-time work so I went part-time. Two months ago SS tells me I'm ineligible anymore because I'm making too much . . . Read More
Category: Disability Benefits
Posted: Apr 2 2017 - 6:45am
Am I Able To Get Divorced Spouse's Benefits?
I was married 3 times. 1st marriage for 4 years, 2nd marriage for 24 years, and 3rd marriage for 8.5 months. I am not married, 61 years old, thinking about getting Social Security at 62. Am I able to get divorced spouse benefits from 2nd husband, if that amount should be more than mine? Thank you very much! Am reading your book, and still a tad confused! Mary ps should I change my last name back to my 2nd husbands to make it easier for SS?
Hi,
Yes, since your marriage to your second husband lasted more than 10 years, you can potentially qualify for . . . Read More
Category: Divorced Spousal Benefits
Posted: Apr 2 2017 - 6:30am
