Retirement Benefits

Should I Have Benefited From The Additional Social Security Taxes I Paid After Retiring?

I RETIRED AS AN INSURANCE AGENTin1990. and began Social Security. As a pension I also received over the years monthly renewal income from which was withheld annually the sum.of $199.80 Social Security plus $46.68 re: Medicare. Therefore as I received $16,824. SS each year I continued each tax time to pay, over 26 years, $5,195 total( so far) back into

How Will A Reduction In My Earnings Affect My Benefit Rate?

Hello -- I will be 63 in June. I am and have always been single. I work, but my work looks to be dropping off substantially this year due to changes in the company. I would llike to know if I should file for social security benefits soon because it looks like I will earn substantially less than I did in the last 15 years. I obviously want to maximize my benefit; however, I do want to retire very soon anyway. This change in my income was unexpected, so I have not figured out what is best -- use savings and wait or file now?

What Month Should I Choose To Receive Maximum Benefits?

I turn 70 in the month of June. When applying for benefits, should the starting date be June or July in order to receive the maximum benefit?

Hi,

If you were born on June 1st, you would want to choose May as your month of entitlement. If you were born any other day in June, you'd choose June to get the maximum rate. Social Security pays benefits a month behind, so payments for June are issued in July.

Best, Jerry

Can My Mother Receive VA Benefits And Social Security?

My mother receives VA income (I believe disability) and she just turned 67. Can she also apply for her Soc Sec Retirement benefits? Will she receive both?

Hi,

VA benefits have no effect on Social Security benefits, so the answer to your question is yes, assuming that she qualifies for Social Security. Some VA benefits are needs based, however, so it's possible that receipt of Social Security benefits could affect her VA benefits, depending on the type of VA benefits she receives.

Best, Jerry