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

Displaying 3411 - 3420 of 10063 questions.

Can You Explain My Wife's Benefits?

Hi Larry, I recently started receiving my SS at age 62. I receive $1986 a month and my wife, 63 receives, $1377. I know this doesn't look right except that we have a daughter with special needs that currently receives SSI. We applied for SSDI for my daughter and are still awaiting their decision. I expressed my concern to the person in the SS office about my wife receiving so much and she told me that my wife's SS payment would be readjusted to $1033 once my daughter was approved for SSDI and my daughter would receive the same amount as my wife. I assume this is because of my . . . Read More

Category: Spousal Benefits
Posted: Aug 3 2020 - 3:41pm

What Should My Spousal Benefit Be?

Hi Larry, I have been on disability since 2005. My husband passed away in 2012. I am 62 and he would have been 66 this year. What should my spousal benefit be? I am only receiving $100 a month.

Hi,

I assume what you mean is that you're getting $100 per month from your husband's Social Security record in addition to your own Social Security disability (SSDI) benefit. If that's true and if you've been drawing the survivor benefit since age 60 or earlier, then your survivor rate should be equal to 71.5% of the difference between the higher of a) your . . . Read More

Category: Widow's Benefits
Posted: Aug 3 2020 - 3:07pm

Can I Draw My Husband's Social Security Now That He Has Passed Away?

Can I draw my husband Social Security now he has passed away? We was still married but didnt live together cause personal reason. I know if he drawn more than me that I would lose my Social Security is that true? Thank you

Hi,

I'm sorry for your loss.

You don't need to be living with your spouse at the time of their death in order to potentially qualify for widow's benefits, but you haven't listed enough information for me to know if you meet the requirements for entitlement to widow's benefits. The requirements can be found in the following . . . Read More

Category: Widow's Benefits
Posted: Aug 3 2020 - 2:57pm

Is The Amount That My Wife Is Receiving Correct?

Larry my wife started collecting her benefit at 62. I waited until my full retirement age. But when they added her to my benefit she not even close to half. I’m receiving $1,954 and she only getting $765. Is that right?

Hi,

Probably. If a person starts drawing reduced retirement benefits on their own record prior to full retirement age (FRA), the resulting reduction for age that's applied to their benefit rate continues even if they subsequently become entitled to spousal benefits.

For example, say Amy filed for her benefits in 2018 at age 62 . . . Read More

Category: Spousal Benefits
Posted: Aug 3 2020 - 11:20am

Is It True That My Son Will Continue To Receive Benefits When He Attends College?

Hi. I was told by a friend that since I am receiving social security benefits that my son who is currently a senior in high school will be able to continue to receive some financial benefits through social security when he attends college - is this true? Can you tell me how to apply for those benefits while he attends college? Could not find that info on soc sec site. Please help!! Thank you!!!

Hi,

No. Social Security child benefits end at age 18 unless the child is still attending elementary or secondary school (e.g. high school), or if they're . . . Read More

Category: Child Benefits
Posted: Aug 3 2020 - 11:12am

Is It Correct That WEP Wouldn't Apply To Spousal Benefits?

This month I'm the full retirement age of 66, and I'm currently receiving a government pension, but I haven't retired through SS. My husband retired at 65 years of age, 7 years ago. His monthly SS benefits is $2,612 and according to my SS statement, my monthly amount at the age of 66 would be $997 before WEP. Since I was born after January 2, 1954, it is my understanding that I can't apply under my husbands record, and suspend filing on my record until I'm 70 years of age. But, I read your response someone else today that said something to the contrary. Specifically regarding . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Aug 3 2020 - 10:52am

Why Do They Constantly Worry Folks About Possible Shortfalls?

I am on Disability & may soon be moving to Retirement...my question is why constantly "worry" folks about possible "shortfalls?" Sadly we have a lot of Americans passed due to Covid! Did not one of them pay into SSA? Why everyday have some kind of "possible" benefit cuts?

Hi,

I don't know. It's true that the Social Security trust fund is paying out more than it's collecting in taxes, and that that would eventually deplete the trust fund if nothing changes. However, Social Security has been in existence for more than 80 years now and Congress has . . . Read More

Category: Miscellaneous
Posted: Aug 3 2020 - 10:44am

Am I Eligible To Claim Spousal Benefits While I Wait To Claim My Benefits?

My wife will be at her FRA (66) in Dec 2020. She plans to start her SS benefit then. It's estimated to be ~ $1750/MTH. I'm a bit younger & my FRA is 66.5 in Aug 2023. Thru our married life I was the higher income provider. My benefit at FRA is estimated at $3100/mth. Am I eligible to claim spousal benefits from my wife's benefit while I wait to claim my full benefit in 2023? If so, how much would the spousal benefit be?

Hi,

No. Only people born prior to January 2 1954 are allowed to file for spousal benefits while their spouse is living without . . . Read More

Category: Filing Options
Posted: Aug 3 2020 - 10:38am

Is My Sister's Husband Eligible To Draw Off Of Her SSI?

My sister recently passed away,Her husband is retired. And drawing his SSI. Is he eligible to draw off her SSI?

Hi,

I'm sorry for your loss.

By SSI, I assume that you're referring to Social Security benefits. The surviving member of a couple can generally only be paid the higher of their own benefit rate or their deceased spouse's benefit rate. Therefore, it sounds like your brother-in-law could only qualify for widower's benefits if your sister's benefit rate was, or would have been, higher than his own rate.

Even if your brother-in- . . . Read More

Category: Widow(er) Benefits
Posted: Aug 3 2020 - 10:30am

How Will My Divorced Spousal Rate Be Calculated If My Ex Continues Working?

I was married 15 years, divorced for 17 years. I am 65, My ex is two years younger. I will claim ss benefits long before him (he doesn't want to retire for quite a while) if I claim divorced spousal benefits, how is the amount determined if he doesn't retire until he is 70. ( it could be five years after me) his salary has been over $500k for years and his benefit will be higher than mine even

Hi,

I should first point out that since you were born after January 1 1954 you won't be able to file for divorced spousal benefits during your ex's lifetime . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 3 2020 - 10:18am

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