Can I Continue To Receive My Military And Disability Pay With My Social Security?
First off, why is it so darn hard to get information about social security. I feel like I'm trying to grab a greased-up snake. Anyway, my question is I was born 9 March 1951 so I'm currently 68 years old and some change. I served in the Air force and am receiving a retirement pension. I also am receiving 50% disabilty compensation. when I file (which i plan to do this October. I was going to wait until my 69 year old birthday, but now I'm not) will I be able to continue to receive my military pay, plus my disability pay with my social security?
Hi,
. . . Read More
Category: Miscellaneous
Posted: Jun 12 2019 - 10:52am
Can I Apply For Myself And My Daughter And Have My Wife Wait For A Later Date To Apply For Spousal Benefits?
I am considering applying for SS next year at age 62. I have an adult child with special needs. I understand she will be eligible to 50% of my full retirement and my wife will also be eligible for SS under my record. My wife will be 63. Can I apply for my SS and my daughter and wait for a later date to apply for my wife's Spousal benefit so that my daughter will receive a larger amount based on my family maximum benefit and have my wife receive a lesser amount? My thought is that my daughter will receive SSDI, which is tax free and mine and my wife's will be taxable. Thanks for . . . Read More
Category: Filing Options
Posted: Jun 12 2019 - 10:37am
Will I Lose Benefits Because I Get Paid In June For Work I Did In May?
I started early retirement June 1st but my paycheck is every two weeks I have one week inMay and one week in June my one week and may was full-time my 1 week in June was part time will they catch that and be able to discriminate against it or will I get screwed because I work full-time one week
Hi,
For earnings test purposes Social Security goes by when you earn your wages, not when the wages are paid. So, if you're planning to draw reduced retirement benefits for the month of June based on the monthly earnings test ( . . . Read More
Category: Earnings Test
Posted: Jun 12 2019 - 10:28am
What Are The Pros And Cons Of My Wife Filing At Age 62?
Larry, I am 65, Wife is 56. I am self employed in the medicare sales arena. Got a 15 year old (Yup late)) my S.S. at F.R.A would be around 2000. I'm planning on working till I drop and debating taking S.S. at 70. Are there any benefits or losses to my wife taking hers at 62. I.E. When and if I die will she be stuck at that rate or will she get mine? Was thinking if I took it at 66 it would help with college some - but I do have some tucked away. Plan is she will join me in my business soon so we can travel a bit. advice?
Hi,
The benefit of your wife . . . Read More
Category: Filing Strategies
Posted: Jun 12 2019 - 10:07am
Can My Husband Receive Benefits On My SSDI Without Triggering Deeming For His Own Retirement?
Hi Larry-- I am currently receiving SSDI. My husband, who will be 64 in August, will be forced into early retirement this summer. Can he receive benefits on my SSDI without triggering deeming for his own retirement? Should he wait till FRA to do so? He would like to postpone taking his own SS Retirement until 70 to maximize his benefits. At full retirement age (I am 61 now) , can I suspend and let my retirement benefit grow until 70 as well?
Hi,
The only way your husband could file for spousal benefits without being deemed to also be filing for his . . . Read More
Category: Spousal Benefits
Posted: Jun 12 2019 - 9:53am
Can My Wife Switch To Spousal Benefits On My Account When I File For My Benefits?
My wife born 3/21/50 claimed her social security at age 67. As for me, born 2/29/52 I am delaying mine until age 70, I have claimed spousal benefits, drawing 1/2 of my wife's social security. When I claim my social security at age 70, can my wife switch to the spousal benefits on my account? What does that mean? What is the advantage?
Hi,
Your wife couldn't actually switch from drawing her own benefits to drawing spousal benefits, but she could apply for additional spousal benefits when you file for your benefits. However, your wife will only . . . Read More
Category: Filing Options
Posted: Jun 11 2019 - 10:01am
Can I Draw From My Deceased Father's Social Security Benefits?
I currently draw SSI I'm 37 never married can I draw from my deceased fathers social security benefits I drawer from him when I was a teenager
Hi,
In order to potentially qualify for benefits on your father's Social Security record you would need to have become disabled prior to age 22. If you did, you can contact Social Security to apply for disabled adult child's benefits (https://www.ssa.gov/planners/disability/qualify.html#anchor7).
Best, Jerry
Category: Disability Benefits
Posted: Jun 11 2019 - 9:48am
Should We File Early And Invest The Proceeds Instead Of Waiting Until Age 70?
Hi Larry,
Long-time reader and thanks for all you and your team do!
I am 51yo male married to a 63yo husband (who stopped working a well paying job at age 50, nice for him, right?). We are comfortable in our finances: mortgage paid off, no debt, well funded savings, 401k/IRA, etc, no kids, no extravagant spending and I earn in 6 figures. Not wealthy but definitely comfortable ... I plan to work approximately 5 more years myself.
We certainly don't "need" the money at present, but I often wonder if he should file now vs age 70 and we simply invest/save the . . . Read More
Category: Filing Strategies
Posted: Jun 11 2019 - 9:22am
If My Wife Files For Her Benefits Now Will She Be Eligible For The 50% Spousal Benefit When She Reaches FRA?
I am 63 and my wife is 64. I will retire next month and start drawing on SSA (reduced ~$3000). If my wife decides to start drawing also (~$500) will she be eligible for the 50% spousal benefit when she reaches FRA and will it be based on my FRA amount or my reduced amount.
Thanks
Hi,
Your wife couldn't file for her own benefits without also being deemed to file for spousal benefits. And, if she starts drawing both benefits before full retirement age (FRA) they'll both be reduced for age.
Your wife's unreduced spousal rate would be . . . Read More
Category: Spousal Benefits
Posted: Jun 11 2019 - 7:03am
If I Die Before My Wife Reaches FRA Would She Get 100% Of My PIA?
I am 62 and still working although my life expectancy is likely lower than average due to a liver transplant in 2002. My wife is age 60 and draws about $750 a month in SS disability. I am considering applying for disability as I was on it for 4 years after transplant and have enough health issues I feel it is a good bet I can get re-approved. If I pass away either prior to filing for SS or after disability does my wife get Widows benefits of 100% of my PIA even if I die prior to her being 66 10 months (her FRA)?
Hi,
If you die before your wife reaches . . . Read More
Category: Widow's Benefits
Posted: Jun 10 2019 - 9:34am
