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

Displaying 811 - 820 of 10063 questions.

If I Draw My Benefits At Age 62 Will I Also Be Able To Draw On My Husband's Record When He Retires?

Hello, I am going to retire at 62, my husband is still working, my question is if I draw mine will I also be able to draw on his to when he retires?

Hi. Possibly, but you'd then still be stuck with the reduction for age applied to your own benefits for at least as long as both you and your husband are living. That reduction would amount to roughly 30%, assuming that your full retirement age (FRA) is 67 and you start drawing your benefits at age 62.

If you're already drawing your own benefits when your husband claims his benefits, the only way you'll . . . Read More

Category: Filing Options
Posted: Aug 4 2022 - 6:26pm

What Do I Need To Do So That My Wife Can Get My SS Benefits When I Die?

I am a USA citizen I merried a Mexican woman what do I need to do so she can my ss benefits when I die she’s no resident or natural citizen of the USA

Hi. I can't be sure without more information, but it doesn't sound like your wife could currently be paid Social Security survivor benefits on your account unless you either lived together as man and wife in the U.S. for at least 5 years, or if you're a U.S. military service veteran and you die from a service connected injury or illness. The alien nonpayment provisions of the Social Security Act bar payment . . . Read More

Category: Survivor Benefits
Posted: Aug 4 2022 - 6:20pm

Is There Anything About Common Law Marriage In Social Security?

Hi Larry I wanted to know is there anything in ss about comm law wife an husband an we able to draw there ss

Hi. Social Security follows the laws of the various U.S. states with regard to common-law marriages. A summary of state laws on common-law marriage can be found in the following section of Social Security's operations manual: https://secure.ssa.gov/apps10/poms.nsf/lnx/0200305075.

If you and your husband established a valid common-law marriage in a state that recognizes . . . Read More

Category: Marriage
Posted: Aug 4 2022 - 5:23pm

Will Earning $150 A Month Negatively Affect My SS Benefits?

Hi
I will be 62 in November 2022. I have my 40 credits of SS. I have half my years with $0 earnings. My daughter wants to hire me for $150 a month and give me a 1099. Will this affect my SS benefits negatively? Should I just suggest another way to compensate me? Thank you. Karen

Hi Karen. No, earning $150 per month won't have any adverse effect on your Social Security benefits. You can earn up to $19,560 in 2022, or up to $1630 per month without causing any of your benefits to be withheld due to your earnings.

If anything, it sounds like . . . Read More

Category: Earnings Test
Posted: Aug 4 2022 - 12:00pm

How Can I Maximize My Monthly Benefit?

Hi.

I'm trying to maximize my benefit. I'm not sure which way I should go. Maybe you can advise. I'm deaf. I plan to apply for SSDI now. I'm 60 and my ex husband is 58. My ex husband earns significantly more than me. I'm sure his benefit will be significantly more than mine. Should I apply SSDI now then apply for SS benefit at 62 under my account then apply for the divorced spousal benefits at the full retirement age? Or apply SSDI now and stay with it until my and his full retirement age then file for the divorced spousal benefits? Please advise me which way I should go . . . Read More

Category: Filing Strategies
Posted: Aug 4 2022 - 11:37am

Am I Entitled To Half Of My Husband's SSD If He Dies?

I will be collecting my ss at 62 in november. My husband is collecting ssd. He is 64. We are married 34 years. If something were to happen to him., am i entitled to half of his ssd

Hi. Actually, in the event of your husband's death you could potentially be eligible for up to 100% of his benefit amount. You wouldn't get his full amount plus your own benefit rate, though, just the higher of the two amounts. However, if you start collecting survivor benefits before you reach your full retirement age (FRA), then your benefit rate will be reduced for age and . . . Read More

Category: Widow's Benefits
Posted: Aug 3 2022 - 3:39pm

Can I Get Spousal Benefits?

I get strsoh pension. Paid no social security. Can I get spousal benefits

Hi. If what you're collecting is a pension based on your earnings from a governmental agency in the U.S. (e.g. local, county, state, federal) and if those earnings were exempt from Social Security taxes, then any Social Security spousal or survivor benefits for which you'd otherwise be eligible would be offset by 2/3rds of the amount of your government pension. In that case, you could only be paid spousal or survivor benefits if those benefits amount to more than 2/3rds of the amount . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Aug 3 2022 - 3:31pm

Can I Earn More Than $1630 Per Month When I Turn 65?

I did yearly retirement at 63 I'm going to be 65 can I earn more then the 1630 a month when I turn 65

Hi. You're Social Security benefits can be subject to full or partial withholding due to Social Security's earnings test until you reach your full retirement age (FRA), and if you were born in 1957 then you won't reach your FRA until age 66 & 6 months. The monthly earnings test limit of $1630 to which you refer only applies in the initial year that a person starts collecting benefits, so it would no longer apply to you if you've been drawing benefits . . . Read More

Category: Earnings Test
Posted: Aug 3 2022 - 1:29pm

Will My Wife Be Able To Get My Benefits When I Die?

I am near my FRA of 66 & 4 months. Wife is 63 1/2.
She is retired already and drawing a State Retired Teachers Pension. She only paid into ss for about 6 years. I know she will not get any SS on her own but on my passing will she able to get mine. Thanks

Hi. It sounds like any spousal or survivor benefits for which your wife would otherwise qualify will be subject to full or partial offset due to the Government Pension Offset (GPO) provision (https://www.ssa.gov/pubs/EN-05-10007.pdf). GPO . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Aug 3 2022 - 1:20pm

Is It Too Late To Return The Benefits I've Received And Change My Retirement Age To 70?

I began receiving social security at age 65, is it to late to return what I have received and change my social security retirement age to 70.? I am now 80 years old.

Hi. Yes. You are only allowed to withdraw an application for Social Security retirement benefits if you do so within 12 months of the month your benefits started (https://www.ssa.gov/benefits/retirement/planner/withdrawal.html).

Best, Jerry

Category: Withdrawing Retirement Benefits
Posted: Aug 3 2022 - 11:49am

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