What Possible Actions Can My Wife And I Take To Increase Our Social Security Payments?
Larry, I was born in 1955 and my was born 1954. My wife began taking Social Security in Spring of 2018. I plan to it at FRA. What are the possible actions we could take to increase our Social Security payments?
Hi,
You and your wife have numerous possible options to consider, but which options might help you maximize your payments depend largely on your and your wife's relative benefit rates. For example, you could potentially increase your Social Security retirement benefit rate by continuing to work and earn more than you did in one or more of your . . . Read More
Category: Filing Strategies
Posted: Feb 26 2020 - 8:25am
Is The Social Security Representative I Spoke With Correct?
My wife retired at 66, I am 65, applied for Medicare a. Social security rep who took my application told me that if I did not retire at 66 I could collect spousal benefits on my retired wife's account because she waited until full retirement age of 66 and I could still continue to work. It was my understanding that such a technique for maximizing benefits was discontinued for all people born in 1954 and after. Does your software help with this? Is the representative correct? I would certainly have a higher final retirement amount if I wait to 67 or 68. If I can collect spousal . . . Read More
Category: Filing Options
Posted: Feb 26 2020 - 8:12am
Is What Social Security Told Us About My Wife's Extra Credits Correct?
My wife reached her full retirement age (66) last November. We went to our local security office last week and didn't have a very helpful person. My wife signed up for social security to start in April this year with the first check coming in May. We expected to receive the amount earned at 66 plus 5 months of extended credit for waiting 5 months past her retirement age. The social security representative said my wife will not receive the payment for the additional 5 months until next year, just the amount due at 66. I had never heard that before is it correct? Thank you.
. . . Read More
Category: Delayed Retirement Credits
Posted: Feb 26 2020 - 7:55am
Is It True That I May Be Able To Get My Mom's Social Security?
i was in a car wreck at age 19 . i was diagnosed with a brain injury and was declared disable . couldn't walk or talk. my mom applied for a medicaid waiver program that i was accepted in. she died when I was 20. I am now 22 and in one of their housing programs . I only get ssi $700 A MONTH . i WAS TOLD I MAY BE ABLE TO GET MY MOMS S.S. Is that true?
.because if i moved out on my own i cant do it with only $700 a month.
Hi,
I'm sorry for your loss.
I can't be sure, but if your mother worked and paid into Social Security long enough to be . . . Read More
Category: Disabled Adult Child Benefits
Posted: Feb 25 2020 - 2:41pm
Shouldn't My Mother Be Able To Receive Her Maximum Social Security Benefits In Spite Of Her German Pension?
Hi Larry,
I have a question on behalf of my mother. She worked 30 years in the US and about 10 years in Germany. She is 85 and receives social security from the US and Government retirement funds from Germany. However, although she paid quite a bit into SS they reduced her benefits significantly because of her Germany pension. Is this correct? Shouldn't she be able to receive her maximum SS benefits regardless of her Germany pension? She only receives about $600 per month from Germany.
Thanks in advance for your help!
Sierra
Hi Sierra, . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Feb 25 2020 - 2:08pm
How Much Can I Earn Before My Husband's Benefits Are Taxed?
My husband is receiving SSDI. When I return to work what is the maximum amount I can make yearly before his SSDI becomes taxed? Does it sway the figures in our favor if I contribute to a 401k? I do not understand why such a rule even exists. He has higher medical bills than most so it is impossible to live off just one income.
Hi,
I'm sorry, but I'm unable to answer income tax questions. My only area of expertise is Social Security benefits. You may want to try researching the following Social Security and IRS websites with regard to the tax . . . Read More
Category: Taxation Of Benefits
Posted: Feb 25 2020 - 12:41pm
When Can I Start Drawing As An Ex-Spouse If I'm Disabled?
I am 58 and my husband is 66. He is thinking about retiring within the next two years, and we are divorcing within the next year. I am disabled and have received SSDI for the past 12 years. From what I understand, I can draw off of my spouse's retirement benefits as a survivor at an earlier age if I am disabled, but when can I start drawing off of his benefits as an ex spouse if I am disabled? My current SSDI benefits are less than $700 a month because I spent more of my life raising children and tending to the household instead of working outside of the home.
. . . Read More
Category: Divorced Spousal Benefits
Posted: Feb 25 2020 - 7:50am
Will My Rental Income Count Against My Monthly Social Security Benefits?
Hi Larry. I turn 62 this june and want to start collecting my social security benefit. My income is from rental property. That is my only income. Will that count against what I will receive per month?
Hi,
Probably not. Only earned income (i.e. wages and self-employment earnings) counts for Social Security earnings test purposes. The only way that rental income could be considered as earned income would be if you're a realtor, or if you perform regular services for the convenience of your tenant, such as daily maid service.
Before you apply . . . Read More
Category: Earnings Test
Posted: Feb 24 2020 - 5:43pm
Why Does Your Software Show My Wife Getting A Spousal Rate Of Zero?
I have your MaxSS software but am confused why it returns a $0 spousal benefit for my wife.
I turn 70 this April and will be starting my SS benefit that month. Wife turns 63 this October and is retiring from public school teaching this May with a school pension. She also has ten years significant prior SS earnings.
Per my understanding, her spousal benefit is 50% of my SS [$3851/2=$1790.50] and her GPO is 2/3 of her school pension [2/3*$1807=$1204.71] yielding a spousal benefit after GPO of $585.79 [$1790.50-$1204.71]. Her latest SSA statement estimates her FRA . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Feb 24 2020 - 3:48pm
