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

Displaying 3681 - 3690 of 10063 questions.

How Do I Find Out What Happened To My Payment For May?

I did not receive my social security check for May and the local office is closed; how do I find out what happened to it?

Hi,

Social Security pays benefits a month behind, so if you're referring to your payment for the month of May your payment would not be due until at least June 3rd. Depending on your day of birth and when you started drawing benefits, you could be scheduled to be paid your benefit for May on either on the 3rd day of June, or on the 2nd Wednesday, 3rd Wednesday, or 4th Wednesday in June ( . . . Read More

Category: Miscellaneous
Posted: Jun 1 2020 - 1:19pm

Would My Payment Amount Be Higher If I Was Still Living In New York?

Hi Larry, I wanted to know do the amount of your social security payment varies on which state you Live. Ex I worked in Newyork all my life and moved to Ga . I filled for Social security as a Ga resident. Would my payment have been higher if I was still living in NY.?

Hi,

Absolutely not. Social Security is a federal program and your state of residence is totally irrelevant in determining the amount of your benefit rate. Nor does it matter in which state(s) you worked, nor where you file your application.

Best, Jerry

Category: Miscellaneous
Posted: Jun 1 2020 - 1:07pm

When Should My Wife Submit An Application?

My wife turns 70 on October 30. She has been collecting spousal based on my benefits (I’m 72). When should she submit an application to collect based on her own earnings? Thanks.

Hi,

Assuming that your wife's own Social Security retirement benefit rate is higher than her spousal rate and if she wants to claim her benefits at age 70, she'll want to claim her benefits effective with October. Social Security allows you to apply up to 4 months in advance, so your wife could file her application as early as June. She doesn't need to file that soon, . . . Read More

Category: Filing For Benefits
Posted: Jun 1 2020 - 12:57pm

How Can I Apply For Low Income Housing?

How can i apply for low income housing? Im on ssi.

Hi,

My expertise is limited to Social Security benefits, and I'm not familiar with the rules regarding low income housing. You might be able to find information on Housing and Urban Development's (HUD) website: https://www.hud.gov/topics/rental_assistance.

Best, Jerry

Category: Public Assistance Payments
Posted: Jun 1 2020 - 8:18am

How Do I Fix This?

Hello Larry,
I am having difficulty getting straight answers to how taxes work on my LTD and SS disability.
I went on LTD end of December 2018, the insurance required me to apply for SS Disability and pay back to them what I receive. Social Security tax was withheld for 2019 and I got a W2 form. In March I received the first year's SS Disability and the insurance took it from my account. The LTD insurance was company paid by grossing up my income and them paying for it with after tax money I thought this would make my LTD tax free but the company HR says it should . . . Read More

Category: Taxation Of Benefits
Posted: Jun 1 2020 - 8:05am

Can I Draw On My Husband's SS?

I am 62 and I'm on disability my husband is 58 also on disability. My ? Is can I draw on his SS till he is old enough to get SS ?

Hi,

When you say that you and your husband are on disability I assume you mean that you're both drawing Social Security disability (SSDI) benefits. In that case you may be able to claim spousal benefits, but you could only potentially qualify for additional spousal benefits if your husband's primary insurance amount (PIA), which is equal to his full SSDI benefit rate, is more than twice as much as your PIA. If you do . . . Read More

Category: Spousal Benefits
Posted: Jun 1 2020 - 7:53am

Will My Personal SS Benefits Continue To Grow Until Age 70 If I'm Receiving Widow's Benefits?

I am currently 66yo. I retired at 61yo. I started collecting widows benefits at 62yo. Will my personal SS benefits continue to grow until I turn 70yo, and should I go to SSA and see if my personal SS benefits are greater than what I am currently receiving?

Hi,

Yes, your own Social Security retirement benefit rate would continue to grow until you reach age 70 as a result of delayed retirement credits (DRC). The fact that you're drawing survivor benefits has no adverse effect on your own benefit rate.

And, yes, when you're nearing age 70 it . . . Read More

Category: Retirement Benefits
Posted: Jun 1 2020 - 7:45am

If I Return To Work Will The Money I Pay Into SS Increase My Benefit Amount?

I'm collecting SSD benefits right now and I am thinking of going back to work will the money I pay in to SS in payroll increase my benefit amount over the years of working

Hi,

It's possible that returning to work and paying into Social Security could increase your benefit rate, but only if your new yearly earnings are higher than the amount of your earnings in one or more of the years currently being used to calculate your benefit rate.

Social Security disability (SSDI) benefits are based on an average of a variable number of the disabled . . . Read More

Category: Disability Benefits
Posted: May 31 2020 - 5:28pm

Will My Benefit Amount Change When I Reach Full Retirement Age?

I'm collecting SSD benefits right now and in January I turn 66 Witch is my full retirement age will my benefit amount change

Hi,

No, your benefit rate won't change as a result of the conversion from Social Security disability (SSDI) benefits to regular Social Security retirement benefits that occurs when you reach full retirement age (FRA). By the way, if you were born in 1955 and on any day other than January 1st, your FRA is actually 66 & 2 months rather than 66 (https://www.ssa.gov . . . Read More

Category: Disability Benefits
Posted: May 31 2020 - 5:18pm

What Is The Best Strategy For My Wife And I To Maximize Our Social Security Benefits?

I just turned 69 and my wife just turned 68. Neither of us have filed for any Social Security Benefits. Both born before 1953. I have a larger PIA than my wife. What is the best strategy for us to maximize our Social Security Benefits?

Hi,

The answer to your question depends largely on the comparative rates of your primary insurance amounts (PIA). If your wife's PIA is relatively close to yours, then it might be best for both of you to wait until age 70 to start drawing. But, if your wife's PIA is less than half as much as yours, it would almost . . . Read More

Category: Filing Strategies
Posted: May 31 2020 - 11:52am

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