Am I Correct About How Our Benefits Would Be Calculated?
My wife and I are 54 with a forecast PIA of $2500/mo at FRA and 62 with forecast PIA of $500/mo at FRA.
My thought is that there would be little downside for the older, lower PIA already retired worker to claim early now, and for the younger person with higher PIA continue to work and not claim till 70. Am I correct in my take that the reduction in benefits if claimed now would reduce the 62 yr old to $375 but when the 54 year old reaches FRA the spousal benefit would be $1250 less the $ 500 FRA amount plus the $375 individual benefit or $1125
or would the spousal . . . Read More
Category: Filing Strategies
Posted: Jun 20 2019 - 6:46am
Am I Eligible To Receive Benefits From My Ex-Husband's Record?
Hi Larry. I am currently recieving disability benefits. I am 60. Ok, with that being said, i would like to know if i am eligible to recieve benefits from my ex husbands record? He is currently still working. We were married over 10 years.
Thank you
Hi,
The earliest that you could claim divorced spousal benefits on the record of a living ex-spouse is at age 62, and you would only be eligible for additional divorced spousal benefits if 50% of your ex's primary insurance amount (PIA) is higher than your Social Security disability (SSDI) benefit . . . Read More
Category: Divorced Spousal Benefits
Posted: Jun 19 2019 - 7:39pm
Can I Collect Both U.S. Social Security Widow's Benefits And My Husband's UK Pension?
I am a 61-year old widow. My husband of 30 years passed last April, 2018 from cancer. I am collecting his SSI-Widow's Benefits here in the USA. I am American, he was from England, and always maintained his British citizenship. He came here in 1985 and has worked and lived here up until 2018. Question: Can I collect both SSI-Widow's Benefits here in the USA and also collect my husband's UK Pension? He worked in UK for about 15-17 years before moving to USA. I am in process of applying for his pension in UK as he had wanted me to do before he passed. However, I don't want to risk . . . Read More
Category: Foreign Pensions
Posted: Jun 19 2019 - 7:19pm
Is Someone Who Received SSDI Eligible To Suspend Their SS Payments After FRA In Order To Receive DRCs?
My husband began drawing SSDI in late 2015 at the age of 63. A few months after he reached FRA he requested that his SS payments be suspended in order to qualify for DRC. When he did so one agent at the local SS office informed him he was not eligible for DRC. Another agent overheard the conversation and corrected the first agent, so his SS payments are currently suspended. We have since read in a newspaper column about SS that anyone who has been on disability is not eligible to earn DRC. I have also read that on some websites. So, having heard varying few points from others, . . . Read More
Category: Delayed Retirement Credits
Posted: Jun 19 2019 - 3:44pm
Would An Identity Thief Be Able To File For My Social Security Benefits?
My identity was stolen through Capital Forensics in Nov. 2018. They got everything, address, Social Security #, Driver's License #, Address, Birth Date: would someone be able to file for my Social Security benefits?
I have called several times & gone into a local office to notify of the ID theft & asked it to be documented. I was told not to worry, One person said I had to file in person & show my driver;'s license (they got the #), another said it couldn't be done because it's attached to IRS (I don't see how that would stop it.) had my web site option . . . Read More
Category: Miscellaneous
Posted: Jun 19 2019 - 9:41am
Is There A Book I Can Purchase?
I was just reading the AARP magazine and it mentioned Jerry Lutz and maximize my social security. Is that a book that can be purchased? Thanks Kevin.
Hi Kevin,
Thanks for asking. I just answer the Social Security questions submitted here on the maximizemysocialsecurity.com website. However, the Social Security book that Larry co-wrote 'Get What's Yours - Revised' is available for purchase. You can find more information about the book on the following website: http://www.getwhatsyours.org/updates/ . . . Read More
Category: Miscellaneous
Posted: Jun 19 2019 - 9:29am
When Should I File My Restricted Application For Spousal Benefits?
My wife will be retiring 11/30 this year at age 65 and will begin to draw social security benefits on 1/1/20. I fall into the grandfathered age group and can claim a restricted application on spousal benefits. My question is this, when should I apply for those benefits? Do I need to wait until my wife has actually received her first check or is anytime after she has applied for her social security benefits okay. Thank you.
Hi,
You could potentially apply for spousal benefits as early as the same day that your wife applies for her benefits. But, you . . . Read More
Category: Filing For Benefits
Posted: Jun 18 2019 - 5:27pm
What Happens If A Person On SSDI Earns $1100 Monthly For An Extended Period Of Time?
In terms of the SSDI trial work period earnings limitation, provision regarding earnings above $880/month and “substantial” earnings as $1220/month. What happens between those two limits? I.e earnings are $1100/month for an extended period of time? Also, what happens if Sean uses all of his “Trial Work Months” and exceeds the $1220 income limitation for a period of time – would he have to reapply and recertify as disabled to begin receiving benefits again?
Hi,
A person receiving Social Security disability (SSDI) benefits who works and earns $1100 . . . Read More
Category: Disability Benefits
Posted: Jun 18 2019 - 3:33pm
Would My Wife Receive Half Of My Age 70 Rate If I Wait Until Then To Start Drawing?
I am 66 in August and my wife is 63 we are both retired. According to our most recent SS Statements my wife would receive $615 at 66 and $836 at age 70. I would receive $2462 at 66 and $3250 if I wait until 70. Would my wife receive spousal benefits of $1625 if we waited until I was 70 or is she limited to 50% of my PIA at 66 or $1231?
Hi,
The most that your wife could receive as a spouse is 50% of your primary insurance amount (PIA), not 50% of your age 70 rate. But, if she starts drawing her own Social Security retirement benefits before she . . . Read More
Category: Filing Options
Posted: Jun 18 2019 - 12:47pm
Is My Summary Accurate?
How would this situation play out for a Disabled Adult Child: Neither of the parents are currently filed for benefits. My understanding is that at least one would need to file before the DAC could receive SSDI benefits based on the parent's record. Ideally, the father would file now because the mother has a higher PIA and would like her to delay until her age 70. It is also probably fair to assume that the mother will outlive the father.
The Father Files Now: DAC’s SSDI benefit will be 50% of the father’s PIA
The mother Files at 70: DAC’s SSDI benefit increases . . . Read More
Category: Disabled Adult Child Benefits
Posted: Jun 18 2019 - 11:14am
