Ask Larry: Questions and Answers

Displaying 9971 - 9980 of 10063 questions.

Could I Have Collected A Spousal Benefit From My Lower Earning Wife?

Hi Larry,

I am 69. When my wife turned 66, I filed and then suspended. She is getting spousal benefit (Half of what mine would have been) I guess she filed a restricted application. Her own benefit would be much lower. At 70 I will apply. At 70 she can apply if it is then more than spousal benefit. My question is did I miss out or could I have gotten a spousal benefit from her. Thank you so much and yes I am writing your name in for President!

All best, Ken

Hi Ken,

First, thanks for supporting my candidacy! (Send everyone you know to . . . Read More

Category: Spousal Benefits
Posted: Jun 25 2016 - 5:00pm

What Can We Do To Maximize Benefits?

I am 61 (born 9/29/54) and working in a high paying field. I expect to keep working until age 70. Because of length of service and salary I expect to receive the maximum benefits. My wife, 71, (1/19/45) is retired and hasn't worked for sometime. When the stock markets panicked in 2008, I had her sign up for SSI benefits (age 62) which she has been receiving at about $750 (net) per month. Is there anything we can do to maximize our benefits?

Hi,

Unfortunately, the new Social Security legislation passed by congress last year took away your option of . . . Read More

Category: Filing Strategies
Posted: Jun 25 2016 - 3:45pm

Will Your Book Help Me?

Larry, I will be 75 this August, been receiving social security benefits since age 62. My wife will soon be 65 and contemplating what to do about SS and retirement. Will your book help in our situation - the 10-year age disparity and one on SS and one thinking about it.

Thankx for your time.

Fr. Ray O

Hi Ray,

I think your wife would find the book helpful in making her decision, and she may also want to consider running the maximization software available on this website.

Your wife was born before 1954, so she meets an important . . . Read More

Category: Filing Strategies
Posted: Jun 25 2016 - 3:15pm

What Info Can I Get On Social Security's Website?

I filed and suspended my benefit at age 66, taking 1/2 of my wife's benefit at that time. My own account at ssa.gov now shows my benefit as active and will not show any projection of my own benefit at age 70. Is this normal?

Hi,

Hopefully, you didn't actually file and suspend on your own record, since that would keep you from receiving a full spousal benefit. Once you file on your own account, that becomes your primary benefit, even if you choose to suspend it. If that was the case, you would only be getting an excess spousal benefit, and then only . . . Read More

Category: Filing Strategies
Posted: Jun 25 2016 - 2:30pm

Will I Get Back Pay If I'm Approved For Social Security Disability Benefits?

My question is not about SS but about SS disability. I was told by my doctor today that if my SS disability was not approved before I am 66 (in four months) I would never receive any past benefits even the case is almost 2 year old. During this timed I've received my first denial and I appealed in August 2015. Since then SSD has collected information before reviewing my appeal. In this speed I will never receive a decision even my case is well documented and I strongly believe I should get it. I will understand if you decide to ignore my question. Thank you

EB

. . . Read More
Category: Disability Benefits
Posted: Jun 25 2016 - 1:30pm

Spouse's benefit

I'm in a situation i haven't seen addressed so want to see if anything could be beneficial. I am female, receiving benefits since age 62 (I am now 68) Spouse is younger, will be 62 this Sept. Is there anything that would help to maximize benefits? What if he starts benefits before 66? Thank you for any suggestions

Hi Elizabeth,
If one half of your spouse's retirement benefit at his/her full retirement age (FRA), aka known as his/her Primary Insurance Amount (PIA), is larger than your PIA, i.e. your retirement benefit at your FRA - not your reduced . . . Read More

Category: Filing Strategies
Posted: Jun 25 2016 - 12:45pm

Foreign pension subject to the WEP?

I retired 2016 and started collecting my social security benefit at age 66. I have been a permanent resident in U.S. for 20 years. Prior to that I lived in Australia where I eaned a pension benefit via Public Sector superannualtion scheme which I started withdrawing last year. When I applied for Social Security they reduced my monthly benefit due to the Australian pension using some type of formula. Why are they allowed to do this for a pension a pension I contributed and earned in Australia?

Hi Mike,
Social Security benefits depend on your past . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jun 25 2016 - 10:15am

Can I increase my benefits?

I took normal SS two months after turning 65. That was in 1995. Can I assume there is no way to maximize once locked in?

Hi Selph,
You assumption is correct; there is no way to increase your benefits at this late date.

Best,
Mike

Category: Filing Strategies
Posted: Jun 25 2016 - 7:15am

Can I repay benefits and get a "Do-Over"?

I will pass 74 years old in September, have been collecting SS since age 65 + 3 months with current benefits +/-$2,140/month. Universal praise for your work addresses best approach to determine best time to claim but I am well past that. Does your software enable re-starting SSI (with repayment of benefits received to date) to gain higher payments after use of your software? I am able to make lump-sum repayment of SSI received to date, am most interested if your software will enable improvement of my position going forward. Standing by, looking forward to your response.

. . . Read More
Category: Filing Strategies
Posted: Jun 25 2016 - 7:00am

When should I purchase MaximizeMySocialSecurity?

Hello Larry. I am 56 year old male. I am interested to learn more about maximizing my SS benefits and am interested in purchasing your access for my household, however, I am concerned that since I am at least 6 years from SS benefits (at which time I will be 62 y.o.). Is your information relevant to me today, or should I wait until I get closer to 62? Perhaps in 6 years there will be no SS or so different that your information no longer applies ?

Thanks in advance

Hi Daniel,
Unles you want detailed plans, that might change, pretty far into the . . . Read More

Category: Filing Strategies
Posted: Jun 25 2016 - 6:45am
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