Ask Larry: Questions and Answers | BAM - Maximize My Social Security

Displaying 2171 - 2180 of 10063 questions.

Can My Wife File For Spousal Benefits From My Account Even Though I'm Not Old Enough For Benefits?

My wife turned 62 this year and started taking SS benefits, about $800/month. I'm 55 so I won't be taking benefits for at least another 7 years (although I am retired, lucky me, so no wage income). Can (and should) she file for spousal benefits? My FRA benefit is currently calculated at about $3,000/month so even if she only gets the difference between her benefit and 50% of mine, that's still an extra $700/month she could be getting, if I understand spousal benefits which is a big if. Or is she only eligible for spousal benefits AFTER I start drawing my own SS benefits? Thanks . . . Read More

Category: Spousal Benefits
Posted: Jul 29 2021 - 3:00pm

When My Husband Files Will I Get His SS And Not Mine?

I started drawing Social Security at 62. My husband is planning to retire at 66. Will I get his ss when he retires and not mine?

Hi. You won't stop getting your own benefits when your husband starts drawing his benefits, but you may be able to qualify for an additional partial spousal benefit from his account. Once you start drawing your own Social Security retirement benefits those benefits continue for life. If you later become eligible for a higher benefit on someone else's account, Social Security pays a partial benefit from that account in addition . . . Read More

Category: Spousal Benefits
Posted: Jul 29 2021 - 10:24am

How Will My 2021 Earnings Affect My Benefit Rate?

Hi Larry i started collecting social security 2020 at 68 still working untill July 9 2021 and stop working .My ss benefits i recived $ 1865 from september last 2020 year until 1 april 2021 ,Now because last year incomei get ss increased to $ 1989,Last week i recived from my company check( severance pay + vacations) in total amounts $64,733.should i get next year higher ss benefits ,i got in total 36 years /in 1992 i earn only $ 1.782,so this ear income will replace 1992 year lowest income,please explain that to me.i lost recently job because company closed business.any . . . Read More

Category: Calculating Retirement Benefits
Posted: Jul 29 2021 - 10:03am

Aren't Survivor Benefits A Part Of Social Security?

You say you only work with social security, but isn’t survivor benefits a part of social security ?

Hi. Yes, Social Security pays a number of different survivor benefits to surviving spouses and ex-spouse's, children, and dependent parents. I don't know what you're question references, but I'm only able to answer questions if questioners give me enough information about their age, marital history, work history, etc. Estimated benefit amounts are also helpful if known.

Our software (https:// . . . Read More

Category: Miscellaneous
Posted: Jul 29 2021 - 9:55am

Why Am I Getting Survivor Benefits?

Larry hello first of all just found your sight I would like to know why I'm getting survivors benefits and don't know why SSI gave me this benefits and don't have anyone that has passed I reapplied for SSI and got denied have an advocate and my hearing is Sept 12 2021 ?

Hi. I'm sorry, but I have no way of knowing what type of benefit you're receiving nor how your benefits got started. All I can tell you is that you can't start collecting Social Security benefits unless you apply for them, although it's possible that someone else could have applied for . . . Read More

Category: Miscellaneous
Posted: Jul 28 2021 - 5:07pm

How Will It Affect My Social Security Payment If I Start Drawing At Age 65 1/2?

My dob is 12/11/56 if I retire at age 65 1/2. How much will that affect my social security check.

Hi. Based on your birth date, your full retirement age (FRA) is 66 & 4 months. Therefore, if you start drawing your Social Security retirement benefits at age 65 1/2, you'd be starting 10 months prior to FRA. People who start drawing their benefits at FRA receive 100% of their primary insurance amount (PIA). But, if you start drawing 10 months before FRA you'll be paid roughly 94.4% of your PIA instead.

You may want to strongly consider using our . . . Read More

Category: Retirement Benefits
Posted: Jul 28 2021 - 4:55pm

Is There Any Way That Getting Married Could Cause Social Security To Reduce My Monthly Check?

Hi I'am 53 years old on social security disability ,& Would like to marry my boyfriend of 5 yrs. My question is "" Is there any consequences if I marry him and will SSA reduce my monthly check. ??

Hi. No, as long as what you're receiving are Social Security disability (SSDI) benefits. A person's SSDI benefit rate is the same regardless of whether or not they're married.

If you were receiving Supplemental Security Income (SSI), though, then getting married could cause your SSI benefits to stop or be reduced. Unlike Social Security benefits, . . . Read More

Category: Disability Benefits
Posted: Jul 28 2021 - 4:43pm

Is My Wife Eligible For Spousal Benefits While Waiting For FRA?

I am drawing SS benefits based on FRA (BD 5.25.52). My wife is retiring, and her FRA (BD 8.15.56) is Jan 2023. We are married 39 years as of Dec, 2021. Our children are grown and on their own. Is she eligible for Spousal benefit while waiting for FRA? have contacted SS via telephone 5 times, 2 say no, 2 say yes, 1 says file on site to determine. Found your site via a Forbes article.

Hi. No. Only people born prior to January 2 1954 are allowed to apply for spousal benefits without being required to claim their own benefits at the same time, and even they . . . Read More

Category: Filing Options
Posted: Jul 28 2021 - 12:08pm

Can I Request To Have My Benefit Rate Calculated Again?

I became disabled with 2 herniated disc in cervical spine. I strongly believe my social security was not calculated correctly. Can I request thst it be calculated again? 1997? It was rushed please grt back to me

Hi. Yes, you can submit a written and signed request for a recalculation of your benefit rate to Social Security. The preferred form for that purpose is an SSA-795 (https://www.ssa.gov/forms/ssa-795.pdf), which is basically a blank form on which you write out what you're requesting and why. The . . . Read More

Category: Miscellaneous
Posted: Jul 28 2021 - 11:57am

Does SSA Earn Interest On The Money In The General Account?

Does SSA earn interest on the money in the general account? If so, does delaying payments allow them to earn interest on the money until it is disbursed?

Hi. Yes, and yes (https://www.ssa.gov/oact/progdata/fundFAQ.html#:~:text=Far%20from%20bein....).

Best, Jerry

Category: Miscellaneous
Posted: Jul 28 2021 - 11:54am

Return to Ask Larry

Get What's Yours!

Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!

Find your maximized strategy
Unlimited what-ifs
Step-by-Step filing instructions
Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

Results will differ based on your specific case and filing strategy.

Getting Started is Easy

Web-based software. Works on ALL browsers. No download.

Get What's Yours—Buy Now!