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

Displaying 3141 - 3150 of 10063 questions.

Is WEP Being Applied Correctly In My Wife's Case?

My wife's benefits were reduced due to her government pension. When she began to take the spousal benefit based on my records they reduced the spousal benefit also by 2/3. So in effect the WEP was taken on both benefits. Is that correct? I had used your program for years, but now don't have it since getting benefits but this issue came up.

Hi,

The windfall elimination provision (WEP) wouldn't have any direct effect on your wife's spousal benefits. The only way that WEP could affect the amount of her spousal benefits is if your benefit rate is reduced . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Oct 14 2020 - 5:02pm

Why Did We Receive Our Payments On A Different Wednesday This Month?

Hi,
I am wondering why my husband & I got our Social Security payments direct deposited on Oct. 13th (the 2nd Tuesday of the month) but we normally receive payments the 3rd Wednesday of each month.

FYI in case it matters: We just started receiving Social Security this year. Hubby is claimed based on my record at present, will switch to his record when he reaches age 70. I do have a seasonal part-time job but will make probably $9500 or less by year's end.

Regards,
Diana

Hi Diana,

I can't really answer your question, but I . . . Read More

Category: Payment Dates
Posted: Oct 14 2020 - 4:51pm

What Would My Best Strategy Be?

I am turning 65 on March 1st
I was married over 10 years and divorced over 2years . I have not yet started my social security benefits. I am not remarried. Trying to find best strategy for my social security benefits. Im still working, and at full retirement I collect $985 . . I don’t know ex spouse retired benefits, she’s over 62 urs old , we were married in Florida and both live in Florida currently.
Thank you

Hi,

As long as your ex-spouse is living, whenever you apply for either your own Social Security retirement benefits or divorced . . . Read More

Category: Filing Strategies
Posted: Oct 14 2020 - 8:11am

Can My Sister Retire Early Due To Illness?

I am asking for my 55 year old sister who has Cancer ..
is she able to retire due to her illness ?
I guess apply for disability would be the reason
Regards Georgia

Hi Georgia,

Your sister can apply for Social Security disability benefits (SSDI), but she couldn't claim Social Security retirement benefits prior to age 62. If she qualifies for SSDI, however, it would essentially be the same as drawing her full retirement age (FRA) benefit early. Her SSDI benefit rate would be equal to her primary insurance amount (PIA), which is . . . Read More

Category: Disability Benefits
Posted: Oct 14 2020 - 8:02am

Are The Estimates On Social Security's Website Updated To Include DRCs And COLAs?

Hello Larry and Jerry,
Just a general question I haven't seen an answer for elsewhere. Does a person's ssa.gov/myaccount page update on an annual basis to reflect DRC accruals along with showing an annual COLA adjustment that takes effect in January (provided there is one)?
Thanks,
--
Doug

Hi Doug,

I'm not an expert on Social Security's website, but the benefit amounts they provide on the 'my account' page show your current estimated rate and your estimated rate if you wait until age 70 to start drawing. As far as I know, . . . Read More

Category: Miscellaneous
Posted: Oct 12 2020 - 10:08am

What Should I Do?

Hello Sir;
I will be receiving $1200/ month as a pension from my job when I retire soon at age 70. Will this reduce my monthly social security benefits.
Another question:
I am still working at age 69, but I did not get any credits in my social security benefits since I reached age 66. I just got the 8% increase in January. I called SSA, but no body gave me a convincing anser. What Should I do.
Thanks for your help.

Hi,

Your pension could only affect your Social Security benefits if your earnings on which the pension is based . . . Read More

Category: Retirement Benefits
Posted: Oct 12 2020 - 9:48am

Can I File For Widow's Benefits If I've Remarried?

im married for 2nd time, i plan on retiring in Feb 2021, can i file widows benefits for my 2nd husband whose deceased i was 54 when I remarried. When should i file?

Hi,

If I'm understanding your question correctly, you're asking if you can file for widow's benefits on the Social Security record of your deceased spouse, and that you are currently remarried. In that case the answer is no, since your current marriage occurred before you turned age 60. You can't claim widow's benefits on a deceased spouse's record if you are currently married and if you . . . Read More

Category: Widow's Benefits
Posted: Oct 12 2020 - 9:31am

Do I Continue To Receive SSDI Forever?

I have been receiving SSDI since 2005 , this year I turned 60, do i continue tlo receive SSDI forever yes i am still disabled or will itchange over to SSI and if it does does will my benefits increase or decrease? I can barely make it and am not able or allowed to work.
Also I have a student loan which interest is outrageous and I am worried about what will happen. Do you have any advice on getting it dissolved there is no way I am able to pay it and I don't have any money for an attorney.
Thank you so much.

Hi,

Your Social Security . . . Read More

Category: Disability Benefits
Posted: Oct 12 2020 - 8:38am

Can My Mother-In-Law Apply For Survivor Benefits?

My mother in law is 66 and has never claimed survivor benefits from her late husband who passed in 2004. Can she now apply for those social security benefits? If she decides to work how much can she make a year while claiming those benefits?

Hi,

Yes, your mother-in-law could apply for survivor benefits, and since she's reached her full retirement age (FRA) there's no limit on how much she could earn and still be able to potentially collect survivor benefits. However, your mother-in-law couldn't claim survivor benefits retroactively for any months . . . Read More

Category: Survivor Benefits
Posted: Oct 11 2020 - 10:01am

Does Filing Online Sound Reasonable For Me?

I will turn 70 in mid-January, 2021. I am single, never married, no children, no dependents. I am still working, though I will probably leave my job somewhere in 2021, but have not yet decided.

I have read your book, and have now just finished by second re-read, or run through it, focusing on those points I think most relevant to me.

I am aware that I need to request in writing when I apply/file that I do NOT want to activate my benefits 6 months retroactively, that I wish only to have them start on my 70th birthday, going forward, preserving my Delayed Retirement . . . Read More

Category: Filing For Benefits
Posted: Oct 10 2020 - 6:35pm

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