What Do I Need To Know About Social Security Benefits For Veterans?
I have been reading about social security benefits for veterans and benefits for getting a portion of my wife's benefits after she has passed. Anything I should investigate?
Hi. Veterans can qualify for Social Security benefits just like anyone else can by paying Social Security taxes on their earnings. You must have a minimum of 40 quarters of coverage (QC), or roughly the equivalent of 10 years of Social Security covered earnings, to potentially qualify for Social Security retirement benefits.
The only special provisions involving veterans in the . . . Read More
Category: Miscellaneous
Posted: Mar 7 2021 - 5:43pm
Is It Legal For My Husband To Pull His Social Security?
Dear Larry, my husband is approaching 60 and Social Security has been weighing on his mind. What he is thinking about is pulling his social security and then what ever that amount is take his paycheck and have equally amount put in his 401k pre tax. I am trying to get him to wait till he is 65 or 67 he is afraid of waiting to long to take that advantage. Can he legally do this and if so when should he start. I am going to have him sign up for your maximize my social security program. Thank you Terrilynn
Hi Terrilynn. I'm not sure what you mean by your . . . Read More
Category: Miscellaneous
Posted: Mar 7 2021 - 1:28pm
Can My Wife Start Drawing Her Benefits At Age 62 And Then Switch To 50% Of My Benefit Amount When I Start Drawing?
Hi - social security question, if my wife files at 62 for her own benefit, she will receive reduced benefit of approx $600.
When I file at 67 (we are FRA at 67 both) my FRA benefit is $2,900.
Can she switch to the spousal 50% $1,450 because she will also be at her FRA, or will that be also reduced because she initially filed earlier before her FRA? Thank you. Val
Hi Val. NO, a person cannot switch from drawing their own Social Security retirement benefits to drawing just a spousal benefit. If your wife files for her own benefits prior to her . . . Read More
Category: Filing Options
Posted: Mar 7 2021 - 1:10pm
Do I Understand This Correctly?
I just want to see if I understand something correctly.
IF everything continues as planned, my husband plans to take his SocSec in two years at age 70. I will turn 62 about that time and will file also. I believe my spousal benefit will be larger than my own, so I will received half of his full retirement age (66) amount minus reductions for taking it early. What I want to know is, if he dies, will I continue to received my spousal benefit as is until I request survivor benefits, and as long as I don't file for Survivor benefits until age 66 and 10 months will I receive . . . Read More
Category: Spousal Benefits
Posted: Mar 7 2021 - 12:52pm
Can I Now Receive My Deceased Husband's Benefits?
When my husband passed away suddenly in 02, we had been together for years but only been married 9 months. When he passed his only surviving daughter of course received his benefits. Then she commuted suicide in 09. Can I now receive his benefits?
Hi. I'm sorry for your loss. You can't be paid your husband's actual benefits, but if you were married for at least a full 9 months then you may be eligible for survivor benefits. If your marriage lasted less than 9 months you'd need to meet one of the exceptions to the duration of marriage requirement, which . . . Read More
Category: Widow's Benefits
Posted: Mar 7 2021 - 12:27pm
How Do The Rules Regarding Widow's Benefits Apply In My Case?
FOLLOW UP: DISABLED WIDOW RECEIVING DECEASED SPOUSES SS REDUCED RETIREMENT RATHER THAN REDUCED DISABILITY ( home with children prior to injury-low work history)
First thank you again for what you do. I would gladly have paid for your responses and thoughts. (Jerry and Larry). I have shared your site and software with several family members and friends.
My apologies for not being more clear in my last 2 emails RE: widowed age. My BD is: 08/16/1958. I was 59 yrs when my husband passed. The supervisor at my local office informed me that I had been approved for . . . Read More
Category: Widow's Benefits
Posted: Mar 7 2021 - 11:25am
If I Increase My 401K Contributions Could I Draw Widow's Benefits?
Hi Larry!
Thank you for what you do.
I am 62. My husband (and sadly, also my CPA) died at age 41. I am still working and earn about 70k a year. My company puts all 401K contributions in before tax, leaving my my wages in box 1 (60198.58). Box DD: (9365.52). I had a thought: If I contributed/deferred $51k and reduced my income to 18,900 a year would I be able to draw my widow benefit to make ends meet until I retire at 66 and 10 months? That may be wishful thinking as I am limited to $26K cap on contributions including catch-up. However, I did read that total total . . . Read More
Category: Filing Strategies
Posted: Mar 7 2021 - 11:04am
Why Is Social Security Telling Me That I Must File For My Retirement Benefits Now?
Turned 62 June 2020 started receiving Ssdi 2012 owe child support am now told must apply for retirement now. Currently receive ssdi 794.00 with medicaid snaps and housing assistance. Am confused what I am required to do or should do? Thank You
Hi. Social Security couldn't force you to file for early retirement benefits if were only receiving Social Security disability (SSDI) benefits. However, if what you're actually being paid is Supplemental Security Income (SSI), then if you refuse to file for Social Security retirement benefits your SSI payments will . . . Read More
Category: Disability Benefits
Posted: Mar 6 2021 - 9:39am
Can I Claim My Ex's Social Security?
My ex abandoned our marriage and his step son after 6yrs can I claim his social security
Hi. You must have been married for a minimum of 10 years to be able to qualify for divorced spousal benefits. However, if your ex is deceased and if you have a child in your care who is either under age 16 or disabled, then you may be able to qualify for surviving divorced mother's benefits if your child qualifies for child's benefits on your ex's Social Security record.
If you're still legally married and simply separated or estranged from your spouse, then you . . . Read More
Category: Divorced Spousal Benefits
Posted: Mar 6 2021 - 8:25am
Which Month's Medicare Premium Will Be Withheld From My Social Security Benefit For July That's Paid In August?
Larry
1. I have set up a program at BofA to pay both my Medicare B and D by the due date of the 25-th day of the preceding month.
2. My social security begins for the month of July, and is deposited in August on the 2nd, third, or 4th Wednesday of August
3. Assuming no delay in switchover.
(a) Will the net SS payment for July in August be net of the Medicare bill for August due by July 25-th (THEN IT WILL BE LATE) or that for September due by August 25-th. What if the 4-th Wednesday is after the 25-th ?
(b) Will the automatic netting from SS also . . . Read More
Category: Medicare
Posted: Mar 5 2021 - 8:15am
