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

Displaying 991 - 1000 of 10063 questions.

What Is The Real Story For My Situation?

My husband died December 28, 2014; I was 55 at the age of his death. In 2015, I went to the Social Security Administration office in Rockville, Maryland to determine when I was eligible to apply for Survivor (widow) benefits. I was told at age 60, I could apply for 50% of my late husband’s benefits and at age 62, 75% of his benefits. So, I decided to continue working to receive the maximum benefit based on the regulations, if I took his benefits, I could not receive my own benefits based on my income. As a result, I decided to continue working so I could receive his maximum . . . Read More

Category: Filing Strategies
Posted: May 22 2022 - 2:42pm

Am I Able To Collect Widow's Benefits Now Regardless Of My Earnings And Not File For My Own Benefits Until Age 70?

I am 66 & 4 months old and was born in Jan 1956. I work full time & may do so until age 70 and am a higher earner. I have not filled for Social Security yet., SS estimates if I do not fill until age 70, my SS benefits would be about $1,00 more a month. I became widowed in Feb 2015, but have never filled for widows benefits as I understood they took benefits away for earned income until I reached full retirement age, which I am at now. My deceased husband took benefits at age 62. We have a disabled adult son who collects on his record, his benefit is around $1,100 a . . . Read More

Category: Filing Options
Posted: May 22 2022 - 12:25pm

Is There A Best Strategy To Use If My Husband Takes A Job Where He Won't Pay Into Social Security?

My husband worked in local government in colo for 7 years. This brings his ss earnings to 23 yrs. He is considering a job change to Washington state government that will not pay into ss. He would retire with 23 yrs into ss payments. Is there a best strategy to figure how much more $ he needs to make and put into savings to best make up the difference? And how will this affect spousal benefits? Is there anyone to talk to about this?

Hi. If your husband collects a pension(s) based on his earnings that were exempt from Social Security taxes, then his Social . . . Read More

Category: Filing Strategies
Posted: May 22 2022 - 12:01pm

Will My Wife Be Eligible To Collect My Benefits If I Die Before Her?

Larry - my wife filed for SS about 15 months early. I’m roughly a year away from 70 and collecting spousal benefits while my own continues to grow. My benefit at FRA was more than double that of my wife; at 70 it will be close to triple. Under these circumstances and if I predecease her, is she eligible to collect my benefits? Thanks very much!

Sincerely - Rich

Hi Rich. Your wife couldn't collect your actual benefits if you die, but it sounds like she could qualify for widow's benefits. As long as your wife is at least full retirement age (FRA) when . . . Read More

Category: Widow's Benefits
Posted: May 22 2022 - 11:50am

Should I Switch To My Own Benefits Prior To The End Of 2022 To Take Advantage Of Next Year's COLA?

I am divorced and am currently receiving my ex-spouses' SSB until I turn 70 which will be in May 2023. My benefit (on my own account) will of course increase by 8% in 2023. I have read that the COLA for 2023 will be 8.6. Should I go ahead and switch to my own benefits prior to the end of 2022 so that I can take advantage or the extra .6% in benefits? (I am assuming that my benefits are not increasing 8% yearly plus the COLA?)

Hi. You don't need to start drawing your own benefits early in order to get credit for the 2023 COLA. Your Social Security . . . Read More

Category: Cost Of Living Increases
Posted: May 21 2022 - 4:42pm

Am I Still Eligible To Collect SSDI After My 36 Month Period Ends?

So my 36 months period ends march 2023. Am I still eligible to continue to collect ssdi

Hi. I assume that you're referring to the Extended Period of Eligibility (EPE) for Social Security disability (SSDI) benefits. In that case, the answer is yes, but only if you don't earn more than the substantial gainful activity (SGA) limit after the 36 month period ends. The current SGA limit in 2022 for non-blind individuals is $1,350.

A person's EPE extends for at least 36 months after the 9th month of their trial work period (TWP), but can continue . . . Read More

Category: Disability Benefits
Posted: May 21 2022 - 4:27pm

Is There Any Way For Me To Shelter My Insurance Award So That I Won't Have To Give So Much To Social Security?

I am currently negotiating a Personal Injury lawsuit settlement with an insurance company that will put me way over my allowed annual earning. Is there any way for me to shelter this award to avoid giving so much to social security?

Hi. The only way that an insurance settlement would possibly count for purposes of Social Security's annual earnings test is if it involves wage payments or self-employment earnings. Wages and self-employment earnings are the only type of income that counts for earnings test purposes ( . . . Read More

Category: Earnings Test
Posted: May 20 2022 - 9:24pm

How Do I Find Out If It Would Be Worth It To Apply For A Totalization Pension From Germany?

I have a dual citizenship. Lived in Germany for 4 years. Worked and paid into the German Rentenverschierung for 3 to 3 1/2 years. Returned to the States. Lived and worked here ever since then. Do i qualify for a refund or no because of my dual citizenship. If no, should i try the totalization for the German pension since i had paid in enough to the American pension at age 38, only wasnt of age to retire. How do i find out if it would be worth it scince itll be subject to the windfall. Im retired an going to be 69.

Hi. My expertise is limited to U.S. Social . . . Read More

Category: Miscellaneous
Posted: May 20 2022 - 9:08pm

How Do I Get A Letter Of Verification That I Don't Receive A Pension?

I have been told that I cannot apply for xmy social security benefits unless and until the disability and spousal benefit issues are resolve. How do I get a letter of verification that I do not and never have received a pension.? I have applied several times but received no reponse. Is ther any other document that will suffice?

Hi. Social Security can't prevent you from applying for benefits. You can insist on filing an application even if Social Security doesn't believe that you're eligible for benefits. If Social Security disallows your claim for . . . Read More

Category: Divorced Spousal Benefits
Posted: May 20 2022 - 8:59pm

Do You Have Any Advice For Me?

1) I am 65 yo recently apprpoved for spousal benefits. TheSSA will not give me the benefit because they wrongly that I receive a pension when i do not. I have tried to get a letter of opm/verification to prove this and release hold and offset with no success. Please advise

Hi. Without more specifics, the only thing I can suggest is to file an appeal. The first step of the appeals process is reconsideration, which can be requested by filing a form SSA-561 (https://www.ssa.gov/forms/ssa-561.pdf). For more . . . Read More

Category: Spousal Benefits
Posted: May 20 2022 - 8:53pm

Return to Ask Larry

Get What's Yours!

Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!

Find your maximized strategy
Unlimited what-ifs
Step-by-Step filing instructions
Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

Results will differ based on your specific case and filing strategy.

Getting Started is Easy

Web-based software. Works on ALL browsers. No download.

Get What's Yours—Buy Now!