Will My Survivor Benefit Rate Be Reduced Because I Started Drawing My Own Benefits At Age 62?
In 2007 I was widowed at age 47, my deceased spouse was 57.
I worked for 12 years for a university that did not pay into social security so am subject to WEP and GPO. I also received a lump sum retirement in lieu of actual pension from that university so it gets converted to a monthly pension value for the WEP & GPO formulas.
As I tried to calculate a SS strategy, I get conflicting info from SS offices through the years. I don't have ready access to the survivor benefit number and how it changes from 2007.
Eight months ago, at 62 I filed with SS to my . . . Read More
Category: Survivor Benefits
Posted: May 30 2022 - 11:59am
Will I Be Able To Collect More Because My Husband Is Still Working?
My husband currently collects ss since age 64 but he is still working full time would I be able to collect more then then his current monthly benefit he will be 73 years old
Hi. If you're collecting spousal benefits and if your husband's benefit rate increases as a result of his new earnings, then your spousal rate would also go up. Your husband's Social Security retirement benefit rate is based on an average of his highest 35 years of Social Security covered wage-indexed earnings, so your husband's current and future earnings will only increase his . . . Read More
Category: Miscellaneous
Posted: May 30 2022 - 11:47am
How Can My Wife Find Out How Many Quarters She Has?
I retired at 65 and began taking SS benefits at 66 (FRA for me since I was born in 1951). My wife was born in 1952 and did not have enough quarters to qualify for her own SS benefit. Accordingly, we decided to file for spousal benefits for her at age 65. The various spreadsheets I ran suggested this produced the highest lifetime benefits for us. Since my wife began taking spousal benefits, she has been working on her doctorate which involves teaching and thus W2s and paying FICA. She may soon have enough quarters to qualify for her own benefit (she is now 70). I have several . . . Read More
Category: Miscellaneous
Posted: May 29 2022 - 9:01pm
Can I Make A Lump Sum Payment To Social Security To Get The Credits I Need To Be Insured For Benefits?
Hello Larry
I worked in the US under an H1B visa fromn1995 to 1999. I only have 24 credits, short of the minimum required, namely 40 credits.
I have been back home since late 1999. My home country is not a participant of a TOTALIZATION agreement with the US.
Couldn't I make a lump sum payment to the US Social Security department for the 16 credits I need to meet the minimum required ??
Thank you.
George
Hi George. No, it isn't possible to voluntarily pay Social Security taxes in order to gain insured status, or for any other . . . Read More
Category: Miscellaneous
Posted: May 29 2022 - 8:54pm
When Can I Be Free Of SSDI?
Hi I am on SSDI and seperated from spouse. I can't afford to live here and may move to UK. Possibly Spain or split time. I also can't afford them taking 25.5% in tax out first.
When can I be free of SSDI? When I retire? and if they take it away can I then apply for retirement early ( I am 63) so it wouldn't be too much early.
And if that happens how can I prevent tax. I am permanent.resident and not citizen. Seems unfair as I paid into the system and it should be mine and not be penalized for having to move out of US. Trying to survive here.
Hi . . . Read More
Category: Disability Benefits
Posted: May 29 2022 - 4:29pm
How Can I Fight IRMAA?
How can I fight IRMAA. I retired August 2021. I began taking Survivor's Benefit September 2021. My husband passed away April 2018. Prior to retiring my annual income was $28,000.00 per year. After my husband passed I was forced to sell a piece of property we had inherited. I needed the income, since my husbands income while he was alive was $120,000. We’ll SS pulled my income from 2020 and they included my capital gains as income, thus the IRMAA judgement. So, they are deducting an additional $265.00 per month for a year due to those earnings. I used proceeds from that property . . . Read More
Category: Medicare
Posted: May 29 2022 - 4:01pm
Will My Wife's Spousal Rate Be Reduced If She Starts Her Own Benefits Early?
My name is Jeff. I am 67 years old and will wait to 70 years old to begin my Social Security monthly benefit payouts.
My wife is Mary. Her Full Retirement Age (FRA) is 66 years and 10 months. Mary is 4.5 years younger than me, and at present, we plan for her to retire at 65 years and 6 months. Based on current calculations, we think her “reduced” Social Security benefit amount will be less than 50% of my primary insurance amount (PIA). Would my 50% PIA (that could go to Mary as a spousal benefit) also be reduced because Mary retired early?
In my “what if” scenario . . . Read More
Category: Filing Strategies
Posted: May 29 2022 - 3:36pm
Do I Need To Wait Until I Stop Working Here In Spain To Apply For U.S. Social Security Benefits?
Hello Larry,
I am a 65 year old dual USA/Spain citizen and I want to retire. I am divorced after 14 years of being married to an American. My ex-husband is 62; he served 23 years in the US Air Force and now working for the State of Florida.
For the last 5 years, I've been living and working in Spain for a Spanish hospital. Before that time, I was living and working in United States and I had enough credits to retire there since I was 62; both countries have an agreement, so I am waiting now for the USA SS to send my itemized earnings/working time to the Spanish SS . . . Read More
Category: Miscellaneous
Posted: May 28 2022 - 1:16pm
Am I Eligible For My Ex-Husband's Social Security Or Pension?
Hi Larry, I was married 14 years to a US Army Service Member. We have a child. I now live and work in Germany. I am not a US Citizen, my husband was mostly stationed in Germany during his military career.
I know that he retired from the Military and now works for the US Government as a civilian. His birth of year is 1964, mine is 1962. I worked less than a year in the US so I won´t qualify for my own Social Security in the US.
My questions if I am eligible for his pension/social security (What´s the difference?): If yes, when can I apply for it? How much in . . . Read More
Category: Divorced Spousal Benefits
Posted: May 27 2022 - 1:02pm
How Can We Figure Out The Correct Amount Of My Husband's Spousal Benefit?
I filed for my Retirement benefit two years ago, at age 62. I have one Disabled Adult Child collecting on my record. My Disabled Adult Child is receiving 50% of my Primary Insurance Amount. My husband just filed for a spousal benefit. He is 69 and has been collecting his own Retirement benefit since age 63. We received a determination letter from Social Security, but we think they made a calculation error with respect to the amount of his spousal benefit. How can we figure out what the correct amount of his spousal benefit should be, so that we can speak intelligently about it . . . Read More
Category: Spousal Benefits
Posted: May 26 2022 - 4:33pm
