Ask Larry: Questions and Answers

Displaying 8991 - 9000 of 10063 questions.

Can I Still Draw My Spousal Benefits If My Earnings Increase?

I SIGNED UP TO COLLECT MY WIFE BENEIFT'S. I STATED I WOULD MAKE 46,OOO IN SALARY BUT THE FIGURE WILL BE 68,000. I CALLED LOCAL SS OFFICE AND REPORTED THE DIFFERENCE. WILL I STILL BE ABLE TO RECEIVE HER BENEIFTS?/

Hi,

Well, that depends on your age. If you're already at least full retirement age (FRA), which is currently age 66, then your earnings level won't matter. However, if you're under age 66, your Social Security benefits may need to be withheld due to your earnings.

So, if you are under age 66, you'll want to familiarize yourself with . . . Read More

Category: Earnings Test
Posted: Dec 12 2016 - 2:45pm

How Are Disabled Adult Child's Benefits Calculated?

Hi folks, hope you can help me with a couple of questions. My wife and I have a 21 yr old who collects SSI of $733/month due to disability since birth. I am age 62 and my wife is 55. I am trying to decide whether to take my social security retirement benefit at full retirement age (66) or wait until 70 (or some age between 66 and 70). Assuming our disabled child will qualify for DAC/CDB SSDI in the future as he is not likely to ever be gainfully employed, would me delaying my retirement to receive a greater benefit also afford him a greater DAC/CDB amount or is the amount he . . . Read More

Category: Disabled Adult Child Benefits
Posted: Dec 11 2016 - 4:00pm

How Much Will My Wife Receive?

Hi Larry, my full retirement benefit age is 66, but I will wait till 68 to start taking Social Security, so that should be an increase of 16%. When I'm 68 my wife will be at full retirement age of 66. Will she get 1/2 of my SS that I collect at age 68 or that of my FRB age of 66?

Hi,

The most that your wife could receive as a spouse on your record is 50% of your full retirement age benefit amount (PIA), even if you delay taking your benefits in order to earn delayed retirement credits (DRC). However, if you die before her, any delayed retirement . . . Read More

Category: Spousal Benefits
Posted: Dec 11 2016 - 3:30pm

Am I Eligible For Some Type Of Retroactive Payments?

I'm completely lost as to how this process works. I have a decade and change of documentated mental health treatment, inpatient, partial care, and outpatient, dating back to when I was 16. I attempted suicide during my junior year of high school, at age 17, and an IEP was implemented. I spent the majority of April to the beginning of October at various psychiatric institutions voluntarily. I was told I will be eligible to collect $764.25 a month, with only a small amount given for the approximate period of June to November. My main question is that I've been led to believe I . . . Read More

Category: Disability Benefits
Posted: Dec 11 2016 - 10:45am

Did I Choose The Correct Filing Plan?

Hi. I am 66 years old. I am a widow. I am still working full time. I went into the Social Security office in March 2016. They recommended I begin drawing my husband's Social Security. I delayed mine until age 70. I plan to continue working. I am a nurse. Does that sound like a plan that you would approve ?

Hi,

Yes, that sounds like a good plan, particularly if your own benefit rate will be higher than your widow's rate when you reach age 70.

Best, Jerry

Category: Filing Strategies
Posted: Dec 11 2016 - 10:45am

Can I Get Part Of My Husband's VA Disability?

If l'm still married and l get disability for myself and l get my husband pension, can l get part of his veteran's disability, we are not together and l live in another state, but legally we are still married

Hi,

I'm sorry, but my only area of expertise is Social Security. I assume that you'd need to contact the Veteran's Administration to get your question answered.

I can tell you that veteran's benefits do not affect Social Security disability benefits, but would count as income against Supplemental Security Income (SSI) payments.

. . . Read More

Category: Disability
Posted: Dec 11 2016 - 10:30am

Why Did My Brother Get More Benefits Than His Twin Sister?

My brother and sister and twins their dad pasted away 5 years ago and the brother got benefits monthly but she didn't and then a lump some of 30,000 was paid to the brother and only 11,000 to my sister.. I'm trying to figure out how that is even right? Is there any way you could help me so I can help them?

Hi,

There's no way for me to know without knowing all of the facts of their case. However, if the brother got more than his twin sister, my assumption is that he was determined to have been entitled to benefits for a longer period of time. That . . . Read More

Category: Child Benefits
Posted: Dec 10 2016 - 4:30pm

If My Wife Files For Reduced Benefits On Her Own Record, Will It Affect Her Future Spousal Benefits?

My wife and i are both 62,i being about 8 months older. After readng your excellent book, Get What's Yours, I am planning to work and hold off applying for benefits at least till 66 or and proably 70.
If my wife, who is not working and was the lower wage earner, applies for retirement benefits at 62, on her own record, will she be deemed to have applied for a spousal benefit as well and then get a reduced spousal benefit? The reduced spousal benefit is more than the reduced benefit on her own record. I want her to receive retirement benefits now as long it does not . . . Read More

Category: Filing Strategies
Posted: Dec 10 2016 - 2:45pm

Is There Any Way That I Can Get More Than 6 Months Of Back Pay?

My husband retired and took early social security at age 62 in Nov of 2006...He was a county prosecutor for Washington County, Utah from 1983-Nov 2006. I closed my small Ballet school business in Jan . 2007 and filled for disability that spring .. I had to hire a disability attorney to get my disability
( diagnosis( cyclothymia/mild bipolar ) ...I was 58 in Dec. of 2006.

When I finally got my disability approved .....I believe it was in the summer of 2007. The miniscule amount that I got (around $650 )I figured was due to the facts that:

(1) I had a very . . . Read More

Category: Spousal Benefits
Posted: Dec 10 2016 - 2:30pm

Can I Draw Benefits On My First Husband's Record?

I was married to a man for 11 years who, when he passed away, was collecting SS. Since then I remarried, before the age of 60 and have been married, so far, for 13 years. My current husband is very ill and chances are I will survive him. I would like to collect on my first husbands SS when I become eligible since his amount is much greater than my second husbands. I've read that it is possible but have found no info on what makes it possible or how to go about achieving it.

Hi,

I'm sorry to hear about your husband's health problems.

If your . . . Read More

Category: Divorced Widow(er) Benefits
Posted: Dec 10 2016 - 12:15pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.