I’m 67 years old can I invested a little money in crypto can I get in trouble
Hi. Not as far as Social Security benefits are concerned. No type of investment income would affect any type of Social Security benefits you might be receiving. The only type of benefit that Social Security pays that could be affected by investment income is Supplemental Security Income (SSI).
Best, Jerry
Hello Larry,
Myself, like many others had no choice but to initiate Social Security early retirement at age 62 during the pandemic.
It has been a tight budget and I may need to now return to work full time.
I know it is too late to withdraw my benefit claim, as well as my benefit will be reduced every dollar for 2.00 over the 18900.00 earnings limit, as well the whole benefit will be held whilst I work full time, if I make more than the benefit received.
QUESTION 1: if I work full time beginning January 2022, benefit is held, however if I quit Full time . . . Read More
I was wrongfully terminated (in my attorney's opinion) by a Judge in the Government) in May of 2020. I have lawsuits (employment discrimination and retaliation complaints) -- five different cases in DC Office of Employee Appeals (case on suspension-won; and case on termination in progress); DC Superior Court/DCCA; DC Public Employees Relations Board (illegal removal from Union); and Federal District Court--most that have been going on since 2017. Government has proposed a settlement that will only net me about $200K total after taxes and additional attorneys fees. I have $80K . . . Read More
I canceled my part B last year in September and I still didn’t receive my 144 per month
Hi. If you submitted your Part B cancellation in September of 2020 then your Part B coverage should have been terminated effective November 1 2020. So, Social Security should have stopped withholding your Part B premiums beginning with the Social Security benefit payment you received in November 2020.
Social Security should refund any premiums they've withheld after your Part B termination date, but since they haven't your only recourse is to follow up with . . . Read More
Can I draw off my husband's social security if I am disabled even if he is not of retirement age?
Hi. You can't qualify for spousal benefits early based on being disabled. Social Security pays disabled widow's benefits, but not disabled spousal benefits. In order for you to potentially qualify for spousal benefits on the record of your current spouse he would need to be collecting either Social Security retirement or disability benefits, and you would have to be at least age 62 or have an eligible child in your care ( . . . Read More
Hi Larry,
I am almost 60 (12/25/61) as of this writing with A 10 year old child and a 12 year old adopted child.
I still earn 100000/yr from work however I contribute the max to 401k. I wanted to claim SS at 62 for the children.
Do I have to claim for myself also or can I claim just for them?
I will continue at my job for at least 5 years after turning 62.
I know that SS will be reduced because of my income.
When or how do I receive the benefits that were reduced because of work?
Also, as I continue to work, Am I increasing SS from . . . Read More
If I was on long term disability and then applied for my SSDI and was approved will my income increase after age 66 and 10 months
Hi. I can't tell you about any income you receive other than Social Security, but assuming that you don't return to work then your Social Security benefit rate won't increase when you reach your full retirement age (FRA) aside from cost of living increases. Social Security disability (SSDI) benefits are paid at a rate of 100% of the disabled person's primary insurance amount (PIA), which is the same rate as they'd collect if . . . Read More
I read that social security is only funded until 2035. With the way that the federal government is spending money, I’m not confident in their ability to keep it funded. That being said I feel I should start receiving benefit as early as possible. I know in a perfect world it’s better to wait to start collecting but it far from perfect. I’d like to hear your thoughts about the funding beyond 2035. Thanks
Hi. Larry does not believe that Social Security's solvency challenges should be a deciding factor on when to start drawing Social Security benefits. Here . . . Read More
I am currently 62. Per my benefit matrix, the annual increase of my benefits is not quite 1.08% of the prior year during my post FRA (to age 70) years. I thought the amount went up by 8 % every year so should it not be 1.08 times the prior year amount?
Hi. Not exactly. Delayed retirement credits (DRC) add 2/3rds of 1% to your full retirement age (FRA) rate for each month that you delay starting your benefits between FRA and age 70. In other words, the 8% per year increase caused by DRCs is calculated based on your FRA rate, or primary insurance amount ( . . . Read More
Hi Larry! Just finished your revised book. Love how you readers can get a clearer understanding of SSA rules from you, vs them. Sad on the one hand--but so very helpful!!
I am retired and cannot earn more than the annual earnings limit until I'm over 62 (for internal pensioner rules with my ex-employer; I receive a monthly SS supplement as part of my pension until age 62 and I'll lose that if I earn more than the SSA's annual earning limit till I hit 63).
I retired at 59 and now my SSA earning will show $0 unless I go back to work and get a dollar figure to . . . Read More
Results will differ based on your specific case and filing strategy.