if my wife passed away at age 33 from covid 19 we have two kids together what benefits do i qualify for or should apply for with social security
Hi. I'm sorry for your loss. If your wife worked and paid into Social Security long enough to be insured for survivor benefits then it sounds like your children would likely qualify for child benefits (https://www.ssa.gov/OP_Home/handbook/handbook.04/handbook-0410.html). And, assuming one or both of them are in your care and and are . . . Read More
I'm considering retirement in 3 months at age 64 1/2. In good health. C friends and family of cousins, who live 4 hours away, could use my help now, so having time to do this is important. I also want to travel while I'm healthy. I have no kids or sibs. I've got 75k in saved cash and about 1M in retirement savings (including $130k in Roth and HSA). My SS at FRA (66 & 10 months) will be about 2600/mo. I'll have a tiny pension of $270/mo at age 65. Question: Should I hold off collecting SS till FRA and live on cash and 401k for a year or more? Or start SS when I stop working . . . Read More
Hi canceled part B of a medical I would like to know why I did not receive my $144 per month from Social Security
Hi. Social Security doesn't process Medicare Part B termination requests immediately, so depending on when you submitted your request it could take a few months before your premium withholdings stop. If Social Security withholds premiums for any months that you don't have Part B coverage, though, they should automatically refund those premiums.
Just to clarify, though, the earliest month that you can terminate Part B coverage is at the . . . Read More
I turn 70 on Nov 22, 2024 (I qualified for full retirement at 66 and zero months). Is there any difference in my monthly pay if I retire on Nov 22, 2024 or wait until Jan 1, 2025 to retire?
Hi. By 'retire', I assume you're referring to the month that you claim your Social Security retirement benefits. In that case the answer is no, except that you'd lose 2 months of benefits if wait for January. You can't earn delayed retirement credits (DRC) for any months starting with the month you reach age 70, so waiting past November 2024 in your case wouldn't . . . Read More
How long does it take to start getting benefits once you file?
Hi. Processing times vary, but if a person is due immediate payment and if no documentation is required to process their claim then Social Security payments can sometimes arrive within 10 days of the person's application date. I would guesstimate that the average processing time is more like 30 to 60 days, though.
Note, though, that Social Security benefits are paid a month behind. So, for example, if a person applies for benefits and chooses to start payments effective with October, . . . Read More
Can I get a review regarding the penalty deducted due to the four years I interrupted my Medicare enrollment due to hardship?
Hi. You might be able to file an appeal regarding the amount of your Medicare premiums, but you must normally file your appeal request within 60 days of the determination that you're seeking to appeal (https://www.ssa.gov/pubs/EN-05-10058.pdf). I don't know if you might meet any exceptions to the imposition of a premium penalty for late enrollment, but hardship isn't a valid . . . Read More
I desperately need to receive my Social Security check on the 3rd, for my rent. I have a new landlord who will not accept my rent later than the 3rd. I currently receive my Social Security check between the 10th-13th, which is the date the second Wednesday of each month usual falls on.
Hi. The day on which your Social Security benefit is paid is not optional and cannot be changed based on need. The only people who are still paid Social Security benefits on the 3rd day of the month are people who either a) applied for their benefits prior to May 1 . . . Read More
I am on SSDI and make below the SGA cap ($1100/month before taxes) at my part time job of many years. I post some of my artwork online but don’t do any sales; it’s just a casual hobby. A t shirt company saw one of my designs and wants to pay me $1200 in a one time payment to buy rights to it. I’d fill out the proper paperwork to reflect they are paying me as a contractor so this would be reported to the SSA as wages for that month, even though this is truly a random, one time thing that would never happen again. Will a one time overage like this jeopardize my SSDI/disability . . . Read More
If you retire from your job at 55 you still have to wait until 62 for social security
Hi. Yes, providing that you aren't disabled and if you don't qualify for auxiliary or survivor benefits on someone else's Social Security account. The earliest that anyone can collect Social Security retirement benefits based on their own earnings history is at age 62, regardless of any other factors.
Best, Jerry
Greetings Larry and thank you for your reply regarding railroad retirement and DRC's.
I saw where you said that I would not collect DRC's until FRA (which is 66 & 8 months for me). Is that because I would be collecting Railroad Retirement before my FRA (if I collect at 65), or is that the point at which all people start collecting DRC's?
My original question:
Can you confirm that I will continue to accrue delayed retirement credits on my social security so that I collect the maximum amount at age 70? I want to ensure I am not age-penalized by collecting . . . Read More
Results will differ based on your specific case and filing strategy.