Can Anyone Explain Why My Wife's Benefit Amount For December Is So Much Lower Than Her Benefit Amount For January?
Spouse received her Award letter yesterday with first payment scheduled for receipt in January 2021 for December 2020 benefit. This will be her first payment on her Own Record as she has been receiving a Spousal Benefit. The last claim for Spousal is November 2020 and expected receipt on December 20,2020. (Delayed Credits have been accruing)
The letter states the following: "You will receive $2,683.00 for December 2020. After that you will receive $2,853.00 on or about the fourth Wednesday of each month."
We called the Social Security office for an explanation for . . . Read More
Category: Delayed Retirement Credits
Posted: Dec 10 2020 - 2:02pm
Is It Too Late To Get Credits For My Military Service?
I served in the army 9/28/1960 to 9/27 63 active duty and 9/28/1966/inactive. I retired at age 62 and i am now 77.
I do not recall having my time in active duty paying taxes counted in my ss benefits
if not can i go back to ss to check or is it to late I do have my DD 214
Hi,
You should have received deemed military wages (DMW) (https://www.ssa.gov/OP_Home/handbook/handbook.09/handbook-0953.html) for the years that you were on active duty, but DMWs would not . . . Read More
Category: Deemed Military Wages
Posted: Dec 10 2020 - 1:17pm
What Do You Think The Best Option Would Be In My Circumsances?
I have read many articles where most advisors recommend waiting until age 70 to start SS for longevity insurance, and I agree that the correct answer by default is to wait until age 70 if longevity insurance is your main goal. But, for those who have significant assets and are not worried about longevity insurance, how do you decide whether to start at FRA vs age 70? I plan to retire at FRA in 2021 with no debt and have rental properties which I don't plan to sell and have significant stock investments earning anywhere from 4% to 6% in dividends. All are long-term investments . . . Read More
Category: Filing Strategies
Posted: Dec 10 2020 - 9:27am
Would There Any Penalty If A Person In Their 70s Claims Spousal Benefits Retroactively?
For two spouses older than 70, is there any penalty for a retroactive spousal claim for the wife when the husband has been collecting for more than a year? I read that the spousal benefit can be reduced under certain circumstances for a retroactive claim, but don't know if that's applicable in this case.
Hi,
No, there would be no penalty for choosing the maximum amount of retroactivity allowed. Spousal benefit rates do not get higher if a person waits past full retirement age (FRA) to start drawing them, so if a person applies for spousal benefits . . . Read More
Category: Spousal Benefits
Posted: Dec 10 2020 - 9:09am
Should I Report My Son's Unemployment Using The Phone App?
Do I report unemployment dollar amounts on ssdi/SSI monthly wage earnings using the phone app?
This is for my son.
Hi,
Unemployment insurance would have no effect on Social Security disability (SSDI) benefits, so if that's all that your son receives then you wouldn't need to report his unemployment benefits. However, any type of income, including unemployment, can affect the amount of Supplemental Security Income (SSI) that a person can be paid. So, if your son receives SSI then you must report any income that your son receives to Social . . . Read More
Category: Miscellaneous
Posted: Dec 9 2020 - 4:38pm
Will I Continue To Get Half Of My Ex-Husband's Social Security If I Remarry At Age 68?
Hi Larry,
I have been receiving divorced spouse benefits and delaying my own social security benefit since October 2019. I turned 66 in September of 2019. My plan was to let my benefit grow until I reach age 70. I met a great guy four years ago and we are planning on getting married in November of 2021. I will continue to work full-time until I retire in December of 2021. Will I be able to continue to get half of my ex-husband's social security if I remarry at age 68? I still have 2 more years to collect my ex-husband's benefits. It's a substantial amount of money but can . . . Read More
Category: Divorced Spousal Benefits
Posted: Dec 9 2020 - 4:26pm
Why Was I Only Reimbursed For One Month Of Medicare Premiums?
My medicare monthly premium was paid ahead for 3 months when I started getting social security. I was only reimbursed for 1 month. Why didn't I get the other 2?
Hi,
Any Medicare premium overpayment should be automatically refunded within roughly 60 days, so I don't know what happened in your case. Just to clarify, though, Medicare premiums aren't collected a month behind like Social Security benefits. For example, the Medicare premium withheld from a person's benefit payment in December is their premium for the month of December, even though the . . . Read More
Category: Medicare
Posted: Dec 9 2020 - 4:14pm
Is Age 82.5 My Correct Break Even Point?
I retired with a pension and some investment & rental income, so I haven't started my SS yet. I was born in 1955 and was planning to wait until age 70 to start my SS, but now I'm thinking it may be better to start at FRA since both my parents died early (ages 72 and 79). I'm in good but not great health (male, not married). It appears that my breakeven age is about 82.5, so I would need to live past 82.5 to come out better by waiting to start at age 70. I would like to get the maximum lifetime payout rather than the biggest monthly check. So, in your opinion what should I . . . Read More
Category: Filing Strategies
Posted: Dec 9 2020 - 12:41pm
Can You Suggest The Route I Should Take?
I am 63 yrs old and getting ready to retire but I want to apply for disability because I having problems with my hands and I work on a computer. Can you suggest the route I should take.
Hi,
You can apply for Social Security disability (SSDI) benefits either online (https://www.ssa.gov/benefits/disability/), or by calling Social Security to make an appointment. If you're currently working and earning an average of more than $1,310 monthly, though, it probably wouldn't do any good to apply until . . . Read More
Category: Filing Options
Posted: Dec 8 2020 - 12:44pm
Is Five Months An Unusual Amount Of Time To Wait For A Reconsideration Decision?
My husband filed a Reconsideration form 5 months ago with SSA because they calculated his WEP based on Canadian dollars, rather than converting to US dollars, which subtracted more than the allowed 50% of his benefit. They have not responded, although they insist it is being processed. Is this an unusual amount of time to wait? Meanwhile his SS benefit has been significantly cut as a result.
Hi,
Normally I'd say that 5 months is an unusually long amount of time to be waiting for a reconsideration determination, but I'm sure that the pandemic has taken . . . Read More
Category: Miscellaneous
Posted: Dec 8 2020 - 9:58am
