Retirement Benefits

Don't You Think The Social Security System Is Unfair?

I worked some during our marriage, but mainly was a stay-at-home mother rearing our children. Consequently, according to SS agents, my monthly benefit results from two accounts: a small amount from my meager earnings and a larger amount from my husband's earnings. Together they equal half of his benefit. Here's the rub. I'm self-employed and pay into SS each year. I've made enough to raise my benefit each year, BUT they add the amount onto my small account and take it away from the account they set up for me from my husband's earnings.

Can I Collect Benefits Retroactive To My 70th Birthday?

I will retire in April - I turned 70 yrs. old in March 2016. I did not take my social security at that time as I am still working. I will start taking it the month I retire. Can I collect back to my 70th birthday or at least collect for the past 6 months? I thought I needed to be retired before I started asking them to send my monthly check. I have set up a meeting with my local SS office - should I also seek an attorney to help me collect back payments?

Thank you for your assistance.


How Is The Reduction For Taking Early Benefits Calculated?

I haven't found an answer to this question either on the Social Security website or in your software: for someone born on January 4 who wants to apply for early retirement benefits at the age of 63 (in January 2017), should the application ask for benefits to start in January or February? In other words, if the applicant asks for benefits to start on January 1, 2017 (a few days before they turn 63) is the lifetime benefit calculation based on age 62 or 63?

Will My Benefit Rate Be Adversely Affected If I Don't Have Maximum Earnings This Year?

Larry - Doing end-of-year tax planning and a question about raising my salary for 2016 to reach the 2016 maximum ($118,500). I will be 66 in Aug 2017; my plan is to defer taking my social security until age 70 - projected benefit at FRA is $2,575, and $3,498 at age 70.
On 4 of the last 5 years (and 7 of the last 10) I have "maxed out" my salary - wages in excess of the SS contribution limit. This year I am at $102,400 to date -- I have taken the required compensation amount from my prof corp (per my CPA) to meet the fiscal year requirements.