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

Displaying 2461 - 2470 of 10063 questions.

When Would Be The Best Time Of The Year For Me To Retire?

I am 70 still working and and applied for my SS benefits 3 months before turning 70. I plan to retire in 5 years. My question is when is the best time of the year for me to retire on my 75 March birthday, 6 months into the year or end of the year?? Also, being divorced I was eligible for spousal benefits . After the second year of receiving spousal benefits SSA informed me that I was overpaid and would have to pay them back! The benefit amount was practically cut in half!I appealed under “no fault of my own” since it was their computation that made the error! Do I have grounds . . . Read More

Category: Miscellaneous
Posted: May 24 2021 - 6:37pm

Is There Anything That I Can Do To Get Back To The Full SSI Payment Amount?

Hi Larry I recently moved from my 91 year old mother's house where I was her care taker. I'm 67 now and collecting SSI 784/m I can't work because of age and health issues and could no longer care for my mother so my sister took her into her home. As a result I had to get my own apartment which is 900/m when my case worker asked me how much my rent is she said you couldn't pay for an apartment for that much until I got a room mate which I did and she still lowered my benefit 300.00/m now even with the room mate. In other words she was saying I must have another source of income . . . Read More

Category: Supplemental Security Income
Posted: May 23 2021 - 1:19pm

Would My Husband's Disability Benefits Pass On To Me If He Dies When I'm Age 60?

Hi,
Spouse went on SS disability at age 60 and now 53. Should he pass away and I am 60, how would his benefit pass on top me? I believe it may be more than 50% but not sure really if this?

Thanks,
Sherry

Hi Sherry. If you started drawing widow's benefits at age 60, you'd only be paid 71.5% of your husband's full Social Security disability (SSDI) benefit rate. You'd have to be at least full retirement age (FRA) at the time you start drawing widow's benefits to receive a full 100% of your husband's rate.

Also, you won't be able to . . . Read More

Category: Widow's Benefits
Posted: May 22 2021 - 7:19pm

What Is The Best Way For My Wife And I To Maximize Our Benefits?

My wife and I are in our early 60s and US citizens who lived and worked for fifteen years in Canada. As a result, our US Social Security benefit estimates are predicated on less than 35 years of earnings. We both have, in other words, fifteen years of zero contributions in the middle of our earnings records, even though we both were receiving full-time salaries in Canada at that time (and thus were even paying into CPP).
Both my wife and I have enough US earnings history to qualify for a Social Security retirement benefit at age 62. I have enough from Canada to qualify . . . Read More

Category: Filing Strategies
Posted: May 22 2021 - 7:07pm

How Much Will I Be Able To Receive?

I am a divorcee and married to my ex spouse for 25 years. My ex spouse abused me physically and emotionally for years. He was arrested for family violence.
I did not work (employed) for about 12 years while I raised our daughter. My ex husband is still living and is 62 years old. I am 63 years old. I am hoping that I will not need to claim benefits until my full retirement age of 62 yrs and 2 months (born 12.16.1957).

What social security benefits will I be eligible for?

By the way I read on the Federal Social Security benefit website that I would also . . . Read More

Category: Divorced Spousal Benefits
Posted: May 22 2021 - 6:38pm

Will My Husband Get Credit For The COLAs That He's Already Received When He Switches To His Own Account?

I was born in 1954 and my husband was born in 1952. When my husband turned age 66 I took my Social Security at age 64 1/2. My husband then filed a restricted application on my benefits when he turned 66 while he was waiting to age 70 to start his own benefit. His restricted application amount has been $920 ish but has increased due to small COLA increases over the last few years. When he turns 70 he will begin his benefit (guessing about $3200) which will have grown due to delayed retirement credits plus COLA increases. He has had COLA increases on his Restricted application . . . Read More

Category: Cost Of Living Increases
Posted: May 22 2021 - 5:38pm

What Can I Do To Get My Payments Resumed?

Social security was paying me on the third week of month and just stopped paying No phone call no email nothing mailed to me so I called ss office and women told me they stopped payment but did no leave reason. She said she sent message to another dept. and that it would take 15 days to get answer. This is my only income. I retired at 62 and I’m 64 now

Hi. There's very little you can do right now other than continuing your attempts to resolve the problem by calling Social Security. You may also want to try contacting the offices of your congressperson or . . . Read More

Category: Miscellaneous
Posted: May 22 2021 - 8:31am

Will My Wife Be Entitled To The COLA Increases Between Now And When She Applies For Spousal Benefits?

Larry, Your column is great! Excellent information! Question - My wife is 8 years older than me. She claimed her reduced retirement benefits at age 62. The spousal benefit for her will be higher than what she is getting. I plan on applying for for benefits at age 70. She will be 78 when I apply. Will she be entitled to the 8 COLA increases (not DRCs) when she applies for spousal benefits? - Curious George

Hi George. The answer is yes, but I should clarify. Your wife's spousal rate would be calculated by subtracting her primary insurance amount (PIA) from . . . Read More

Category: Spousal Benefits
Posted: May 21 2021 - 12:40pm

Will I Be Able To Get Spousal Support?

If I’m married for 27 years and husband is on ssi and ssdi and we are separated will I’ll be able to get spousal support

Hi. I can't give you a definite answer without more information. SSI (Supplemental Security Income) is a needs based benefit and doesn't pay survivor or auxiliary (e.g. spousal) benefits. Eligible spouses can potentially be paid auxiliary benefits from the record of a spouse who's receiving Social Security disability (SSDI) benefits, though. To be eligible for spousal benefits, you'd either need to be at least age 62 or have a child in . . . Read More

Category: Spousal Benefits
Posted: May 21 2021 - 6:14am

When Is The Best Time To Take Your SS Benefits?

When is the best time (Age, 62-1/2, 65, 66-3/4, 70) to take your SS benefits?

Hi. That depends on numerous different variables, which is why we developed our software program. Each person's circumstances are unique, so you should strongly consider using our software to analyze your options to help you determine the best strategy for maximizing your beneifts.

Best, Jerry

Category: Filing Strategies
Posted: May 20 2021 - 3:50pm

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!