Ask Larry

Miscellaneous

Can One Get Their Social Security If They Renounce Their U.S. Citizenship?

Hi Larry,
Can one get their social security upon renouncing US citizen ? If one renounces, do you loose your social security number where you cannot claim social security then?
It's because the country doesn't allow dual citizenship and so the decision to have to renounce.
I understand once you renounce, you cannot return to the US.
Thank you for your help in to this.

Hi,

Posted: 
Friday, November 8, 2019 - 10:39

Will It Affect My SSDI Or Medicare If I Receive a Large Gift?

Hi Larry! I’m 63 and on SSDI. I’m planning on selling my house and buying another in a neighboring city. I have a friend who wants to gift me a large portion of my next house’s cost. Will it effect my disability benefits in any way to receive a large gift. Will it effect my Medicare? (Also, the profit on my house will be <$150K. I’ll probably put less than half of that towards my new house. ) thanks so much!

Hi,

Posted: 
Friday, November 8, 2019 - 10:09

Will I Lose Any Of My Widow's Benefits If I Change My Last Name?

I have talked to you before about me an my fiance getting married and how it would affect our benefits, we are both 68. You said it would not affect either of us, an I did go down to Social Security and show them the message between us. But I forgot one question to ask them or you, we are planning on getting married the 7th of Dec, my question is. Will I lose any of my widow's benefits if my last name changes from my current name to my new married name?

Hi,

No, changing your name would not have any effect on your widow's benefits.

Posted: 
Monday, November 4, 2019 - 17:24

Can My Grandfather's SSDI Benefits Be Terminated If He Took Out A Loan?

My grandfather who is getting SSDI had got a loan for the amount of 650.00 dollars from money key and he did not pay them back its been a year and now he is receiving phone calls regarding the repayment of the installment loan and what the other person on the other end really upset the family . The representative from money key stated that she was going to report my grandfather for getting the loan and she stated that his benefits would be terminated for that reason.

Posted: 
Thursday, October 31, 2019 - 08:15

Do I Get Any Credit For The Years In Which I Earned Less Than The Maximum Amount Subject To Social Security Taxes?

Early in my work history, I have several years where my earnings were below the full required earnings for that year, i.e.: 1964 I made $327 vs. $1,200 and 1966 I made $1,390 vs $1,650. Do I get partial year credit for those years; do thay count for anything or nothing?

Hi,

Posted: 
Saturday, October 26, 2019 - 20:04

When Would My Social Security Benefit Rate Be Adjusted To Credit My 2019 Earnings?

I plan to retire 31 December 2019 at age 66 working all of 2019 with my highest social security earnings to date. IRS does not receive my W2 from my employer until the end of January 2020 and I do not file my Tax return until the following month, so I am not sure how Social Security is updated and when?

So my questions are: When will social security calculate my 2019 earnings into my high 35?, and when will my monthly payment be re-adjusted?, and when will I receive the adjustment and retroactive earnings in my monthly payments?

Hi,

Posted: 
Friday, October 25, 2019 - 14:50
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.