Ask Larry: Questions and Answers

Displaying 941 - 950 of 10063 questions.

Will I Lose My SSDI Benefits If I Sell My Home?

If I sell my house and I receive ssdi will I loose my disability benefits. And if I make extra money from my current home to use for repairs on the new home?

Hi. No, selling your home wouldn't affect your Social Security disability (SSDI) benefits. It doesn't matter how much you sell the home for, nor how you spend the proceeds from the sale.

The only type of benefit that Social Security administers that could be affected by the sale of a home is Supplemental Security Income (SSI), which is needs based.

Best, Jerry

Category: Disability Benefits
Posted: Jun 13 2022 - 1:47pm

What Can I Do To Get A Social Security Number?

I arrived in USA in Feb 2022. It has been 16 weeks. I still have not received SS Card or Number
Have written emails, called, sent application. No result. Any advce

Hi. The following Social Security website includes instructions for non-U.S. citizens to apply for a Social Security number (SSN): https://www.ssa.gov/ssnumber/ss5doc.htm. I don't know how long it is currently taking Social Security to process such applications, though. You might want to try calling Social Security at 800-772-1213 to . . . Read More

Category: Social Security Numbers
Posted: Jun 13 2022 - 1:38pm

Is It True That At Age 70 The Amount I Earn Will Be Limited?

I am almost 68, collecting social security and self-employed. I was recently told that at age 70, the income I personally earn would be limited. Is that correct?

Hi. No, at least as far as Social Security is concerned. Once you reach full retirement age (FRA), none of your Social Security benefits would be withheld regardless of how much you earn.

Best, Jerry

Category: Miscellaneous
Posted: Jun 12 2022 - 1:17pm

If My Wife And I Sell Our Home Will We Lose Our Benefits?

My wife and I bought property before her going on ssi and myself on SSD. If we sell it will we lose either one ?

Hi. Selling your home wouldn't have any adverse effect on your Social Security disability (SSDI) benefits, but it could cause your wife to lose her Supplemental Security Income (SSI) benefits. SSI is a needs based program, and there is a limit on the amount of assets a person can have and still qualify for SSI. A home in which a person lives is excluded from counting toward the asset limit, but the proceeds from selling a home generally would . . . Read More

Category: Disability Benefits
Posted: Jun 12 2022 - 11:55am

Is It True That My Husband Can File For Spousal Benefits That Could Go Back Six Months?

As the higher wage earner, I'm applying to start SS next month on my 70th bday. My husband(77)has been collectng a small benefit since his full retirement age(66). Once I file, I've read that he can file for spousal benefits that could go back 6 months. Is this true? Would it hurt my benefit?

Hi. Your husband can't be paid spousal benefits for any month prior to the month you elect to start your Social Security retirement benefits. So, if you claim your benefits effective with the month you turn age 70, that's the first month for which your husband could . . . Read More

Category: Spousal Benefits
Posted: Jun 10 2022 - 2:34pm

Do Social Security COLAs Get Factored Into Future Payments For People Who Aren't Yet Drawing Benefits?

Hi Larry, Do Social Security COLAs get factored into future payments for people not currently collecting Social Security? My husband is 67 and not yet claiming his Social Security . (We subscribe to Maximize My SSN and we’re following its advice to wait u til 70 to claim). I was told that the COLAs are not added to payment amounts unless one is actively receiving SS. If that is the case, we are considering claiming his SS in Dec 2022 so he will lock in the predicted 8% COLA starting in 2023. Thank you for your help

Hi. Yes, but in the case of Social . . . Read More

Category: Cost Of Living Increases
Posted: Jun 10 2022 - 12:17pm

Will My Divorced Spousal Benefits Be Exempt From WEP?

I have earned Social Security credits. As I cannot apply just for Divorced Spouse then it appears at FRA (December of this year) I will have apply based on my record and I will also apply for Divorced Spouse as I meet all the criteria to receive that. I am also drawing a pension in Belgium. Will I have to pay WEP on my benefits? Will the divorced spouse benefits be exempt from WEP? Or will all of it be exempt from WEP? Thanks Larry!

Hi. Yes, the Windfall Elimination Provision (WEP) only applies to Social Security retirement and disability (SSDI) benefits. . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jun 10 2022 - 11:56am

Is It Legal For Social Security To Deny Me Survivor Benefits?

I have been on SSDI FOR 23 years and just turned 50 in November of 2021. My husband was also on SSDI but passed away in May if 2920. I had to go through the disability process all inner again and was just denied survivor benefits under my husband's name. Is this legal? I understand how I can be disabled under my name and not denied under my deceased husband's.

Hi. I'm sorry for your loss. The medical disability requirements are the same for both Social Security disability (SSDI) and disabled widow's benefits (DWB), so if your claim for DWB was disallowed . . . Read More

Category: Disabled Widow(er) Benefits
Posted: Jun 10 2022 - 11:42am

Do Your Calculations Take Into Account The Time Value Of Money?

Do you calculations in MaximizeMySocialSecurity take into account the time value of money, and, if so, what is the implicit interest rate assumption. A dollar received today is worth more than a dollar received in three years, especially in this era of higher inflation.

Hi. Yes, the software includes an option to include a presumed rate of inflation. The default amount is 2.25% per annum, but can be adjusted by the user.

For more information on the issue of present vs. future value of money, refer to the following post from our website: . . . Read More

Category: Maximize My Social Security Software
Posted: Jun 9 2022 - 5:19pm

If I Remarried Would I Lose My Widow's Benefits?

I’m a 65 yrs old widow receiving SSDI and SS Widow benefits. If I remarried, would I lose my widow benefit check?

Hi. No. Marriages that occur after a person reaches age 60 or after they become entitled to disabled widow's benefits (DWB) do not adversely affect their eligibility for widow's benefits on the record of a previous spouse.

Best, Jerry

Category: Widow's Benefits
Posted: Jun 9 2022 - 3:07pm
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