Ask Larry: Questions and Answers | Maximize My Social Security

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How Do I Maximize My Benefits?

Greetings,
Larry and your wonderful staff and yes, I am using all the flattery and truth to get the correct answers. I sincerely think it is noble of you and your staff to help us (we need it). My wonderful husband was 30 years my senior and drilled into me to not take Social Security Benefits (SSB) until the age of 70. But, we did not discuss survivors or widows benefits. He (my husband) did not received SSB until he 70 years of age. He died at age 90. The Social Security representative said I can get widows benefits now. I'm 60 years old and have worked full-time until . . . Read More

Category: Filing Strategies
Posted: Mar 30 2017 - 9:45am

Can I File For Reduced Benefits At Age 62 And Unreduced Widow's Benefits At Age 66?

Hello. I'll be eligible for social security in about a year and have been trying to get smart regarding my options. I'm not clear on the new deeming rules as they pertain (or if they pertain) to spousal benefits for someone who is already a widow.

I read on SSA.gov and elsewhere that in order (for a wife) to receive a spousal benefit the other spouse (her husband) must have already filed for their (his) benefit. But I can find no example of a situation where the other spouse (husband) is deceased and never filed. Is a widow even entitled to a spousal benefit?

My . . . Read More

Category: Filing Options
Posted: Mar 30 2017 - 9:30am

Can I Get Widow's Benefits At Age 65 If I'm Working?

I will be 65 in July and am wondering if I can apply for widow's benefits from my late husband's SS. I plan on continuing to work, but are having a difficult time in making ends meet. My husband passed in December 2005 and would be 70 years old. I make approximately $40,000 per year.

Hi,

I'm sorry for your loss.

Your earnings may be too high for you to receive benefits this year due to Social Security's earnings test (https://www.ssa.gov/planners/retire/whileworking2.html). . . . Read More

Category: Filing Strategies
Posted: Mar 30 2017 - 8:45am

Can I Collect Benefits On My Deceased Wife's Record?

IBM is laying me off on 5/1/2017. I'm 66 will be 67 on 7/1. I can retire from IBM and Lucent Technologies I know that but and also take my Social Security pension. My wife died in 2011 and I'am wondering if and can collect any of my wife's benefits from social security pension as a surviving spouse (she made less than I do/did) ?

Hi,

I'm sorry for your loss.

Yes, you can file for widower's benefits without also filing for your own Social Security retirement benefits. In fact, you can claim your widower's benefits up to 6 months retroactively, . . . Read More

Category: Filing Strategies
Posted: Mar 30 2017 - 8:30am

Can I Draw Spousal Benefits If My Husband Receives Railroad Retirement?

Hi Larry,
I am trying to understand spousal benefit options, given this scenario:
Husband worked sufficient years under the RR system and also separately paid into Social Security (at least 40 quarters).
Husband is 65 and currently collecting RR Benefits, with his wife approaching age 59. The wife does not qualify for Social Security benefits on her own, but would be entitled to Social Security Spousal Benefits...normally.
If the husband is collecting RR Benefits and not his social security benefits, is the wife able to collect Spousal benefits (50 . . . Read More

Category: Railroad Retirement & Social Security
Posted: Mar 30 2017 - 8:15am

Can My Husband Suspend His Benefits At Age 69?

I'm 55, my husband is 69. He started collecting at full retirement age (67, I believe). He has now started to do some 1099 subcontracting (construction) and his income plus his benefit plus my income is pushing us, I guess, into a higher tax bracket. He doesn't really "need" the social security benefit right now -- I know suspension is possible, but is it possible to suspend at age 69 (70 in December, born in 1947) and not start up again until he decides to REALLY quit working, meanwhile gathering work credits to potentially increase the eventual benefit?

Thank you! . . . Read More

Category: Suspending Retirement Benefits
Posted: Mar 30 2017 - 8:00am

Can I File For Spousal Benefits Only At Age 66?

My wife started her benefits at age 63 after they changed the rules in 2015. I turn 66 this July 2017. I want to file for spousal benefits to receive half her benefit and not take mine until I reach age 70. Can I do this?

Hi,

Yes. You are still permitted to do this because you were born prior to January 2 1954 (https://www.ssa.gov/planners/retire/deemedfaq.html).

Best, Jerry

Category: Filing Strategies
Posted: Mar 30 2017 - 8:00am

Can I Start Drawing Benefits 6 Months Before Turning Age 66 And Still Get My Full Retirement Age Rate?

I am turning 66 in July of 2018. Can I apply in January 2018 and receive my full retirement age benefits 6 months early in the year i turn 66?

Hi,

No, you can't. If you'll earn less than $44,880 (or whatever the exempt amount of earnings is set at in 2018) in the months prior to the month you reach age 66, you could start drawing benefits effective with January. However, your benefit rate will be permanently reduced by about 3.33% if you do so.

You may want to run the maximization software available on this website before you make any filing . . . Read More

Category: Retirement Benefits
Posted: Mar 29 2017 - 10:15am

Will My Government Pension Affect Widow's Benefits?

I am 89 my husband dies at 94 I have never had social security but he did. I get a retirement from working for government it is udner 1000 dollars a month. I was told at SS center I will not get 100 percent of my husbands SS because I make retirement from government. He said it will lessen. I so not get ss, but governement retirement. I do not understand if he is correct. he was in an hurry it was the end of the day.

Thank you Doris

Hi Doris,

I'm sorry for your loss.

If your government pension is based on your work and you did not pay . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 29 2017 - 10:15am

Will My Social Security Benefits Stop If I Go Back To Work?

I am retired and considering going back to work. Will I forfeit (be cut-off) from my SS monthly benefits should I decide to go back to work?

Janice

Hi Janice,

If you are already age 66 or older, the answer is no. Otherwise, the answer depends on how much you earn, and the type of benefits you are receiving.

If you are receiving disability benefits, your benefits would generally continue as long as you don't earn more than $1170 per month (https://www.ssa.gov/pubs/EN-05-10095.pdf . . . Read More

Category: Earnings Test
Posted: Mar 29 2017 - 10:00am

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