Q & A

Ask Rusty – IRMAA and Medicare Premiums

Dear Rusty:  Due to my adjusted income in 2015 my wife and I (70 & 66) now have over $400 taken from our monthly Social Security fixed income to pay for our share of Medicare. I was let go from…

Ask Rusty – Taxing Social Security Benefits

Dear Rusty:  My wife started collecting Social Security at her full retirement age of 66. I am 60 and still working, and I think it is unfair that we must add her Social Security earnings to mine when we file…

Ask Rusty – Survivor’s Benefits and the RIB LIM (benefit limit)

Dear Rusty:  My friend and I, both very recently widowed, were discussing our future and, based upon the suggestion of other friends, need to explore applying to Social Security for survivor’s benefits.  We’ve tried to research this online and by…

Ask Rusty – Bend Points & Means Testing

Dear Rusty:  I was having coffee with several of my neighbors the other day, and the long-term financial health of Social Security came up. With all of the media coverage of the program running out of reserves in a few…

Ask Rusty – Delayed Retirement Credits and Restricted Application

Dear Rusty:  My wife is 66 and not collecting S.S. She wants to wait until age 70 to collect the larger benefit, but I know she could collect now and her payments will grow if she continues to work until…

Ask Rusty – Disability after starting Social Security Benefits

Dear Rusty:  I am now 64 years old and started taking my Social Security at 62.  I continued to work part time since I applied, until December of last year when I was disabled from a bad car accident.  I…

Ask Rusty – Collecting SS and Income Taxes; early retirement and working

Dear Rusty:  My husband just starting collecting Social Security at his full retirement age. If he wants a part time job how much money does he have to stay under not to mess up his SS income? Someone told us…

Ask Rusty – High earners and the Family Maximum

Dear Rusty:  My question is this:  If both spouses are high earners with significant Social Security contributions in their own right, delaying their benefits to get a bigger Social Security amount could mean they well exceed the maximum “family” payment.…

Ask Rusty – Ex-spouse benefit: Does it affect mine?

Dear Rusty:  Two years ago, after 34 years of marriage, my wife divorced me. She was a full time homemaker most of those years. Is she entitled to half of my Social Security benefit when I collect at age 62?…

Ask Rusty – WEP: Windfall Elimination Provision

Dear Rusty:  During my first career, which lasted about 25 years, I worked for companies that withheld Social Security FICA taxes from my income.  In my new second career my employer doesn’t take Social Security from my wages, but I’ll…

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