Should My Wife Start Collecting Her Benefits At Age 62 Since She'll Be Eligible For A Higher Spousal Benefit Later?
Hello Larry,
I'm 65 and my wife is 62. I am primary breadwinner and intending to wait till 70 to start collecting Social Security. Should my wife start collecting hers now, given that later she can increase it to her spousal amount?
Thank you
Hi. Your wife can start drawing her own benefits as early as age 62, but if she does so her benefit rate will be reduced for age. And, that reduction will continue for as long as both of you are living even if she later becomes entitled to spousal benefits.
Here's an example to clarify: Let's say . . . Read More
Category: Filing Strategies
Posted: Dec 6 2021 - 1:18pm
Am I Not Entitled To Benefits Based On P.L. 108-203?
I am 70 and have applied for my social security benefits which was approved but withheld because I am not legally present in the US. I entered US with a J1 visa in 2005, obtained a SSN, worked for one year, following year obtained a waiver of Section 212(e). The rest is history, and I am still working.
Am I NOT entitled to my benefits according to the provisions of the Social Security Act of 2004 (P.L. 108-203)?
Hi. If you have at least 40 quarters (QC) of Social Security coverage then you'd be entitled to retirement benefits. But, being 'entitled' . . . Read More
Category: Retirement Benefits
Posted: Dec 6 2021 - 12:51pm
Can I Claim Spouse Support Now At Age 57?
Hi Larry!! I was married for 34 years when my ex wanted a divorce so we have been separated now for 5 years. We both was and still on SSDI. He is just now filling for a divorce because he says he may be getting married. I’m single and have no intention on getting remarried. I’m 57 now can I claim spouse support now or do I have to wait till my divorce is finalized?? I really could use the money.
Hi. When you refer to 'spouse support', I assume you are referring to Social Security benefits. In that case the answer is no. The earliest that you could . . . Read More
Category: Divorced Spousal Benefits
Posted: Dec 6 2021 - 8:40am
What Are We Supposed To Do?
I receive my check on the 3rd and with new dates, it will not be January 19th, which will mean almost a month before funds are deposited since the first of December. What are we supposed to do?
Hi. I'm sorry, but I don't have an answer for you. All I can tell you is that the only people who should still be receiving their benefit payments on the 3rd day of the month are a) people who applied for benefits prior to April 30 1997, or b) people who also receive Supplemental Security Income (SSI) payments, or c) people who are residing outside of the U.S. If . . . Read More
Category: Payment Dates
Posted: Dec 5 2021 - 5:47pm
Is It False That You Can Collect Your Benefits Even If You Are Still Working?
I am 63 and requested my retirement. I was approved. Then there was a statement:
"Your payments are suspended because our records indicate that you were or are currently working."
I was under the impression you could receive your benefits even if you are still working. Is this a false statement?
Hi. That depends on how much you're earning. You must be at least full retirement age (FRA) to be able to earn an unlimited amount and still be able to collect Social Security benefits. Since you are under FRA, Social Security would need to withhold $ . . . Read More
Category: Earnings Test
Posted: Dec 5 2021 - 1:20pm
Shouldn't My Past Due Medicare Premium Amount Be Lower?
Hello,
I signed up for SS benefits for Dec. 2021 with first check in Jan 2022. Started Medicare Nov 1,2021. Got a letter saying they are deducting past- due Medicare premiums of $764.10 from my Jan check. And the letter says we withheld $170.10 for med insurance premiums from the Jan payment. If I just started Medicare Nov 1, shouldn't just $148.50x2 be withheld for past-due, not $764.10? I'm not subjuecto IRRMA. Thank you.
Hi. Well, it certainly sounds like it based on your description. The standard monthly Part B premium amount for 2021 is $148.50 . . . Read More
Category: Medicare
Posted: Dec 5 2021 - 12:57pm
Is There Any Way For Me To Receive More?
I filled for retirement @ 62 . i got fired from my job. My father who was a decorated ww2 vet fell and i had to take care of him. So i thought well I will just retire. My father did pass. So my question is Im only receiving a small amount. After I filed is there any way to receive more . or perhaps I am stranded @ this amount indefinitely.
Thanks danie
Hi Danie. I'm sorry for your loss. If you've been receiving benefits for less than roughly a year you could potentially withdraw your application and then reapply for benefits later at a higher monthly . . . Read More
Category: Benefit Amount
Posted: Dec 4 2021 - 9:56am
Could You Explain What The Earnings Test Limit Would Be If I Retire Next Year?
Good morning Larry,
I am reading your book Get What's Yours and have got through about 40% (right past Chapter 8).
I will be 62 next year (Jan 18). My spouse of 40+ years will be 66 next March 25.
Could you please explain what the maximum annual earnings limit would be if I were to retire
at 62 (next January) and my wife at her FRA (also later next year) as well as (more specifically) whether the maximum annual earnings limit is the total of PIA AND any amounts earned aside from PIA or does the PIA not count as part of the maximum annual earnings limit. . . . Read More
Category: Earnings Test
Posted: Dec 3 2021 - 12:12pm
How Do We Get Social Security To Process My Brother's Voluntary Suspension Request?
My brother began social security benefits at age 63. He reaches his FRA next month (Jan. '22). He wants to"suspend" these benefits until 70 to receive delayed benefit credits in the interim. Two SSA employees have told us he cannot do this (which I'm confident is wrong)--one after talking to her "manager". Offices are still closed here in Michigan. How do we get past this roadblock?
Hi. Your brother can request voluntary suspension of his benefits, so the employees he's spoken to are mistaken. Your brother could keep calling Social Security until he . . . Read More
Category: Suspending Retirement Benefits
Posted: Dec 3 2021 - 11:57am
If I Get Paid In December For Work Performed In November, Which Month Does It Count For SGA?
I am trying to determine if I got paid on the 1st of December for work in done November if that pay counts towards my SGA of November or December?
Hi. It would count as November earnings for purposes of determining substantial gainful activity (SGA), but be sure to keep copies of your pay slips so that you can prove your monthly earnings to Social Security if necessary. Employers only report an employee's annual earnings to Social Security unless they receive a request for a monthly breakdown from Social Security. When that happens, employers usually list . . . Read More
Category: Disability Benefits
Posted: Dec 3 2021 - 11:47am
