Ask Larry

Benefit Amount

Will My Benefit Increase If I Continue Working?

I took early retirement at age 62 I am still working I plan on retiring at age 81 will this increase my social security benefits

Hi. Retiring won't increase your Social Security benefit rate, but working and paying into Social Security could potentially increase your benefit rate. Whether or not your additional earnings would increase your benefit rate, though, depends on how much you earn in relation to what you earned in past years.

Friday, January 28, 2022 - 15:18

Is There Any Way To Ask Social Security How They Calculated My And My Daughter's Benefit Rates?

My adult disabled daughter just got approved for DAC benefits based off my husband’s work record. I also just got approved for CIC (child in care) benefits based off my husbands’ work record. I am 61 and do not currently collect any other SS benefits.

Is there a way to ask SS how they calculated the benefits amounts for my daughter and myself?

Thursday, January 27, 2022 - 13:24

Is My Husband's Benefit Estimate On Social Security's Website Accurate If No Earnings Are Shown For 2021?

Hi Larry. While using the calculator on, it shows my husbands estimated full retirement amount. But I see where it is saying there are no recorded wages for 2021, though he worked the entire month. All the prior years amounts are accurate.
It does have an amount they are using, (which seems accurate) for future earnings. My question, is the estimated full retirement amount accurate or is it not because it’s not showing any earnings for 2021. Thanks so much..

Thursday, January 27, 2022 - 13:02

Will My Benefit Decrease If I Decide To Stop Working?

I started getting SS at age 62. I received a statement from SS that said in order for me to continue to receive my current benefit that I should continue to work and make a certain amount of money each year. This just didn't sound right to me. I worked for the state of Missouri for 30.5 years and have been at my current part time job for 12 years. Will my benefit decrease if I decide to quit working? Thanks,Terry

Tuesday, January 18, 2022 - 15:26

When My Wife Turns Age 70 Will She Have The Opportunity To Collect More?

I started to collect my SS benefits at age 62. My wife who is seven years younger, started to collect her's at the rate of half my SS income when she turned 62. When she turns 70 this year, will she have the opportunity to collect more?

Hi. No. If your wife applied for benefits at age 62, then her application would have been deemed to be an application for both spousal benefits and her own Social Security retirement benefits. Therefore, your wife should already be receiving the higher of her own benefit rate or her spousal rate.

Monday, January 17, 2022 - 16:01

Is There A Family Cap On Benefits?

I have two sons who live with us that get social security disability. I am retiring soon and was wondering if there are any issues I should be aware of such as is there a family cap for social security or does anything in my social security affect the amounts they get? In other words, should I have a strategy that included their disability or should I just plan on taking to at 70 (which is my plan).
Thank you!
PS heard you on Money Life and bought your book!

Wednesday, January 5, 2022 - 09:27

Will My Estimated Benefit Rates Now Increase Because Of The COLA Increase?

I was born April 8, 1955, in Jan 2021 I received a CB letter from Social Security that my estimated benefit if I start collecting at age 66 and 2 months is approx $2449.00 per month, with an amount of $3201.00 if I wait until age 70. Am I correct both amounts would now increase by 5.9% with this years Cola increase?

Wednesday, December 29, 2021 - 17:52
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