What Advice Can You Give Me To Get Social Security To Voluntarily Suspend My Benefits?
Hello,
I am desperately need someone advice here because the SSA gave me the wrong information. I am 68, and receiving my benefit since December, last year. Now, I would like to voluntarily suspend receiving it because I went back to work, and I want to earn more delayed retirement credit until age 70. When I called SSA.gov they said I can only make withdrawal of the application once, and repay what I received so far. I am screaming for help! I printed out their web page regarding to this, and it clearly says I can voluntarily suspend it just by calling them.
. . . Read More
Category: Suspending Retirement Benefits
Posted: Sep 10 2021 - 3:09pm
Will My Wife's Spousal Benefit Be Reduced If She Takes Her Own Benefit Early?
My retired wife is 65 (Nov 2021), I am 66 (June of 2021). We are financially set. I will retire and the end of 2021 but may work on 1099 for one year. My understanding is If I take SS at 70, and my wife takes her own benefit now (pretty low), It will reduce her spousal benefits when she reaches FRA. Am I correct?. Would this also affect the Family max?
Hi. Your wife's eventual spousal benefit wouldn't be reduced if she starts drawing her benefits now, but she'd keep the reduction for age applied to her own benefit even after she becomes eligible for spousal . . . Read More
Category: Filing Strategies
Posted: Sep 10 2021 - 1:33pm
Will My Wife Continue To Receive The Same Amount Once She Reaches Retirement Age?
Hi, my wife receives Social Security disability. She is 54. Will she continue to receive the same amount once she reaches retirement age?
Hi. Yes, assuming that she doesn't qualify for higher benefits as a spouse or survivor. Social Security disability (SSDI) benefits convert to regular Social Security retirement benefits at the same benefit rate when the recipient reaches their full retirement age (FRA).
Best, Jerry
Category: Disability Benefits
Posted: Sep 10 2021 - 9:53am
Does It Sound Like I'm Safe From A WEP Reduction?
Hello. My understanding of the Windfall Elimination Provision is that it causes a person's Social Security retirement benefit rate to be calculated using a less generous calculation method if the person is also receiving a pension based on their earnings that were exempt from Social Security taxes. I am receiving a small pension from about 10 years' work at a municipal agency. While I was there they withheld OASDI from each paycheck, which I understood to be for Social Security, and all my earnings from that job show up in my Social Security earnings record. Does it sound like . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Sep 10 2021 - 9:47am
Is There Anything That I'm Not Considering?
I'm trying to figure out the best time to claim Social Security. I just reached my full retirement age. I am self-employed and enjoy my work. My mother and grandmother died at age 92, so that's what I'm figuring my longevity will be. My initial plan was to wait until age 70 to claim, and work until then. Then I started thinking, what if I work those three years AND claim next year. I can more than make up for the benefits shortfall by working and there's no penalty because I've reached full retirement age. It seems that this would be the best plan but in all my research online . . . Read More
Category: Filing Strategies
Posted: Sep 10 2021 - 9:36am
Can I Give Away Assets And Be Safe?
As far as it goes with cryptocurrency and ssi benefits. I bought all my crypto with stimulus checks and wonder how things works regard to that. I don't want to lose my ssi check over some assets that were available at the time. Would i be able to give away the assets and be safe? What should i do in this situation?
Hi. SSI is a needs based program, and it's intended for people who don't have sufficient means of supporting themselves. There is a $2000 asset limit for Supplemental Security Income (SSI) eligibility. Some assets are excluded from counting . . . Read More
Category: Supplemental Security Income
Posted: Sep 10 2021 - 9:34am
Is My Ex-Wife's Social Security Unavailable To Me Now Because She Died?
I'm 65 been disabled for years receiving SSI and social security early retirement when I turned 62 (I missed the filing 'date of last insured" for SSDI) I was self-employed most of my life and have a very low social security benefit. Was married over 30 years divorced for 2 in July was planning on filing for spousal benefits as my (ex)wife worked her whole life, but she just died a month before her 62nd birthday.
??? Is her social security not available to me now???
I understand that she may have been getting Medicare, she had ALS. (I didn't know she was sick.) . . . Read More
Category: Divorced Widow(er) Benefits
Posted: Sep 10 2021 - 9:17am
Can I Collect Benefits Now While I'm Still Working?
Hi Larry,I am 65 yrs old and still work.Someone told me I could collect my social security benefits now I want to retire next year how much will I get a month and can I collect now or wait until I retire?
Hi, Until you reach your full retirement age (FRA) there is a limit on how much you can earn and still be able to collect all of your Social Security benefits. Unless you reach FRA before the end of this year, Social Security would need to withhold $1 of your benefits for each $2 that you earn in excess of $18,960 in 2021. However, in the year you reach . . . Read More
Category: Filing Options
Posted: Sep 9 2021 - 7:24pm
Why Did My SS Benefit Go Down?
I've worked and lived in tge states 10 years before collectors SSDI, recently I became 65 and then applied for Spousal w my American husband. Then I received a letter that was I received pensions. I wasn't but applied to CPP. I'm now getting 72.oo a month from CPP but they r docking me much more. Calling it a non covered pension. My SS has dropped over 100.00 a month? Why?
Hi. It sounds like the reduction in your benefit rate is likely due to the Windfall Elimination Provision (WEP). The WEP provision causes a person's Social Security retirement or . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Sep 9 2021 - 4:00pm
Does My Sister In Law Need To Apply For Her Disability?
My sister in law applied for spousal disability when she turned 60 from my deceased brother. Afterwards she became disabled while working. She receives his benefits but her job is paying her also. Does she need to apply for her disability and can she still receive her pay from job.
Hi. I'm not sure what you mean by 'spousal disability'. There's no such Social Security benefit, although there is such a thing as a disabled widow(er) benefit (DWB). DWB benefits technically end at age 60, though, because at that age a widow(er) can qualify for regular widow( . . . Read More
Category: Disability Benefits
Posted: Sep 9 2021 - 1:33pm
