Ask Larry

Disability Benefits

If I'm Collecting SSDI Benefits At Age 62 Will I Get One Benefit Payment Or Two?

I am receiving $611.00 a month SSDI turning 62 later this year have 40 or more credits SS will I get one or two benefits checks per month

Hi. You'll only get one payment. Nothing will change as a result of your turning age 62. However, when you reach your full retirement age (FRA), then your Social Security disability (SSDI) benefits will automatically convert to regular Social Security retirement benefits at the same rate.

Wednesday, January 26, 2022 - 10:25

Would Withdrawing My 401K Money Affect My Disability Decision?

I'm concerned with the current Market situation under the Biden Administration. I have applied for Social Security Disability which is in progress for approval or denial. I want to pull my 401K money out because I am losing money and put it in a regular account after taxes. Will this affect the SSD decision? The 401K balance is aprox. 17K right now.

Monday, January 24, 2022 - 14:24

If I'm Receiving Disability Benefits Do I Need To Apply For Regular Social Security When I Reach Retirement Age?

Hi Larry! I’ve been on disability since 2006. I wondered if when I get to whatever the retirement age will be - do I need to “apply” for social security or do does it automatically switch over to social security?

Monday, January 24, 2022 - 13:22

Why Shouldn't We Be Able To Work And Still Receive Disability Benefits?

I understand SSI, ABLE accounts which I do not qualify for also the nine-month period of earnings only to get robbed of your SSDI payments if earnings go beyond that period. It is being said that a person can earn unlimited amounts of money within that time period and take a three-month vacation then start all over again. Wouldn't the government catch on to this? There has got to be a way to earn and put that money into a Roth, stocks (to earn dividends), life insurance policy (to borrow against its value) to start living instead of just existing.

Wednesday, January 19, 2022 - 07:11

Will It Affect My SSDI Benefits If I Purchase Rental Property Or Trade Securities?

Hello, I hope you are well. I currently receive SSDI benefits for myself and also receive SSDI benefits for my dependent children. I'm trying to find ways to increase my income. So I'm considering two things. 1) Buying rental property with a combination of savings and business credit (hoping to file as a single member llc in order to receive the funds). If, I get the funds, the rental will be completely managed by a property manager; and 2) studying in order to be able to swing trade(holding trades for more than 3 days, most likely more than 1 week).

Monday, January 17, 2022 - 08:25

Should I Do Anything If I Own A Business And Receive Disability Benefits?

I went on SSI in 2017 after being diagnosed with absense seizures. 5 years later I am retested and notified that I was misdiagnosed. I purchased a small motel 3 years ago and have staff for daily upkeep. I do not receive income thru payroll or salary but have a net income for the business which is reported . H& R has been doing my taxs which includes net thru corporation and SSI payments. Should I do anything?

Saturday, January 15, 2022 - 11:39

Where On Social Security's Website Does Explain How Monthly Earnings Are Counted?

Larry: "When calculating a person's countable earnings for purposes of the trial work period (TWP) and substantial gainful activity (SGA), Social Security goes by the amount a person earns in a month, not the amount they are paid. However, Social Security will default to using the amount paid in a month unless they have evidence needed to show how much the person actually earned in the month"
Can you please tell me where it states this on the Soc. Sec. Website?

Monday, January 3, 2022 - 17:07

When I File And Start Collecting Benefits Will My Wife Lose Her Disability Check?

My wife is collecting disability and I'm thinking of retirement next year when I file and start collecting SSI does she loose her disability check?

Hi. Assuming that what your wife collects is a Social Security disability benefit, then the answer is no. Your collecting benefits would have no adverse effect on your wife's benefits as long as she's receiving a Social Security benefit and not Supplemental Security Income (SSI).

Thursday, December 23, 2021 - 16:47

Can You Explain Whether Or Not I Should Have Taken Disability?

Sir, I retired at 62 and now I am 70. When I retired, I was found to be disable by the SSA and a letter from the SSA was sent indicating this. I went to my appointment and the agent informed me, it was not necessary to take this benefit and stay at the regular rate. Now I find that maybe I should have take the disable benefit. Can you explain if I should have taken the disable benefit and if it would be worth any more financially to me today.

Tuesday, December 21, 2021 - 11:02
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