Will We Lose All Of Our Benefits If I Take A Temporary Job?
I retired in Feb of 2019 at 62 year old. I have been earning $500 a month for Jan thru April from part-time work. I have the opportunity to take a temporary job for 4 to 5 months ( May to Sept) earning $4000 per month. I receive $1375 in monthly SS benefits and my children receive $1570 in monthly SS benefits. Will I loose all benefits for those months or will it be reduced by the $1 for $2 earned over the monthly limit.
Hi,
The answer to your question depends on how much your total earnings will be in 2019. You can be paid benefits this year based . . . Read More
Category: Earnings Test
Posted: Apr 26 2019 - 10:13am
Why Is Social Security Taking So Long To Pay Me My Deceased Wife's Last Payment?
My wife passed away November 1, 2018. We'd been married since valentine's day 1975.
I went into s.s. office Nov 26, 2018 to enquire about her final check, as it had not shown up in our account. She was entitled to that (October) payment because she had lived till November 1.
For 5 months now, I have been getting the runaround and delay like I've never seen before.
At 1st it was 'you'll receive the payment in 15 days.
15 days later and another hours wait on the phone it became 30 days, and I kept hearing 30 days for 5 months now.
The most recent . . . Read More
Category: Miscellaneous
Posted: Apr 26 2019 - 10:00am
If I Sell My Home Can Social Security Take Money From The Proceeds?
If I receive SSI benefits and Medicaid, if I were to sell my home, could they take money from me from the proceeds to my sale of my home? I understand that they can take you off SS a high, but if you’re going to reinvest in the home, how can they take that away if you have no other income?
Hi,
If you sell your home it could cause your Supplemental Security Income (SSI) payments to stop, but you would not have to forfeit any of the proceeds from the sale of your home.
SSI is a needs based program administered by the Social Security . . . Read More
Category: Supplemental Security Income
Posted: Apr 26 2019 - 9:45am
Can I Draw My Husband's Benefits At Age 66 And Switch To My Own Retirement Benefit At Age 70?
My husband passed away in July of 2013. He was 62 and had started receiving disability about 6 months before he died. I have been working full time. I will reach my FRA in June 2019. I plan on applying for widows benefit to start June 2019.
From what I have read, I can get my husbands full retirement benefit when I turn 66. I plan on continuing to work for a while yet. If I restrict my application, can I switch to my retirement benefit at age 70?
Hi,
I'm sorry for your loss.
Yes, you can start drawing widow's benefits at your full . . . Read More
Category: Filing Strategies
Posted: Apr 26 2019 - 9:34am
Is What I Was Told By Social Security Correct?
Hi Larry, I'm 67 divorced more than 10 years. My ex is 65; he works and is not collecting SS.
I want to wait till 70 to maximize my benefits and want to collect on his.
According to the SS website "if your ex-spouse has not applied for retirement benefits, but can qualify for them, you can receive benefits on their record if you have been divorced for at least two years". I went to SS to apply and they told me that because he's not "collecting" benefits I can't tap into his benefits. Is that correct? Thank you.
Hi,
No, that's not correct . . . Read More
Category: Divorced Spousal Benefits
Posted: Apr 25 2019 - 10:04am
Should We Wait Until The End Of May To Apply For Benefits?
My wife and I were both born in 1953. She will be 66 (full retirement age) in July and I in August.
Our plan is for her to file for her retirement benefit effective when she is 66, and for me to file a restricted application for a spousal benefit starting the following month, when I turn 66.
As we are now 3 months from my wife's birthday, my question is this-
Should she file for her benefit now, effective July, and I file at the end of May when I'm 3 months away from my birthday. Or should we wait until the end of May, and then file for both benefits? Does . . . Read More
Category: Filing For Benefits
Posted: Apr 25 2019 - 9:52am
Would Your Software Help Me?
I turned 70 on March 26 and have an appointment at SS Monday, April 29 to apply for benefits.
I've read your book and found it invaluable. And happy to get the software if you think it will help. My question is very specific to my financial history. The problem is that SS estimates of my benefit decreased this year from what had been estimated in past annual notices they sent me. I called SS but customer service came up with an even lower monthly benefit. I can't imagine why this is happening.
I have worked since 1971. In all but two years I had the maximum taxable . . . Read More
Category: Retirement Benefits
Posted: Apr 25 2019 - 9:39am
Could I Have Drawn A Spousal Benefit From My Wife's Social Security?
Larry
I filed and suspended 4 years ago when I was 66 before the deadline. My wife was 62 at the time. I will be turning 70 in July and I will start drawing my benefit. Is there anything I should be aware of before I take my first payment Iin August? Could I have done a spousal benefit from my wife’s social security benefit? She had a small work history but will have a bigger SS benefit drawing 1/2 of mine when she turns 66 in June.
Hi,
Since you were born prior to January 2 1954 you could have filed just for spousal benefits when you reached . . . Read More
Category: Filing Strategies
Posted: Apr 23 2019 - 12:42pm
What Is My Best Plan Now?
Dear Larry,
I have your book “Get What’s Yours”and have read it multiple times, underlined it, made notations in the back, and tabbed the pages with sticky notes. And currently I’m reading sections of it again. I also purchased and used the Maximize My Social Security software and I have also purchased the Maxifi Planner.
Here are the details of my situation. My husband’s FRA was in April 2017. At age 66 his benefit was $1,860 and at age 70 it would be $2,323. My FRA was in May 2018. At age 66 my benefit is $1,469 and at age 70 it would be $2,082. After spending . . . Read More
Category: Filing Strategies
Posted: Apr 23 2019 - 8:42am
Will I Be Better Off Starting My Benefits At Age 66 And Investing The Money?
I am turning 65 this year. My husband is 81 and has a small soc.sec. income; about equal to mine.
He also worked for the city school system and gets a pension from there, and both of our medical
and dental and now medicare benefits are paid via his ss account.
The city's Health service is after me to decide by May 30th about taking s.s. and at what age.
I need to do this, or else I will be dropped they say from the city's portion of coverage of our
health coverage/ and/or medicare.
I was intending to take the ss money at age 66 (around $1,300 . . . Read More
Category: Filing Strategies
Posted: Apr 22 2019 - 5:19pm
