Q & A

Ask Rusty – Are Social Security and Medicare Running Out of Money?

Dear Rusty: I have been hearing reports that Social Security and Medicare will run out of money by 2035 and will only pay approximately 75% of benefits. First, is that true about Social Security? And second, will they reduce benefits…

Ask Rusty – What will my Wife’s Survivor Benefit Be?

Dear Rusty: I am a 68-year-old retired male and had planned on waiting to collect Social Security benefits beginning at age 70. My wife is currently 53 years old. When I die, would my wife’s spousal benefit at her full…

Ask Rusty – About the “Earnings Test” and “Registering” with Social Security

Dear Rusty: Does tax filing status matter when calculating how much you can earn without a reduction in your monthly SS payout? My wife and I have filed a joint income tax return for years. My wife is working and…

Ask Rusty – Husband Confused About Spouse Benefits

Dear Rusty: I am 65 and still working and plan to work for some time to come. My birthdate is February 1955. My wife is 64 and not working. Her birthdate is January 1956. Half of my benefit is more…

Ask Rusty – Should My Wife Take Her Social Security at Age 62?

Dear Rusty: I have been advised by my financial planner to start my wife’s social security benefits at the age of 62 (she is now 61). I am 65 and still employed, not on Medicare, and not taking social security…

Ask Rusty – Can My Husband Get A Spouse Benefit from Me?

Dear Rusty: I’m wondering if my husband can submit a “restricted application for spousal benefits only.” He is 76 years old, has been receiving his benefit since 2005. His present benefit is $263.50. I am 74 years old, receiving my…

Ask Rusty – Social Security for Children and Younger Wife

Dear Rusty: I am 59. My wife is 48 and has been a stay at home mom for 15 years. We have children aged 13, 10, and 5. I know it makes sense to delay the start of benefits, but…

Ask Rusty – Why Are our Medicare Premiums Different?

Dear Rusty: What is the Medicare monthly payment based on? I pay $139.60, my husband pays $144.60, a friend pays $136.60. I receive $388 per month in Social Security, my husband receives $1200, and my friend receives $1000 per month.…

Ask Rusty – About Working Overseas and Earning U.S Social Security

Dear Rusty: My daughter had menial jobs – part time –  here in the USA during high school and college but shortly after college moved to South Korea to teach English.  After 8 years there she will be going to…

Ask Rusty – Retiring from Work; When Should I Claim Social Security?

Dear Rusty: I turned 63 August 12th, 2019. I will be retiring June 30th, 2020 from my current job. I will have made approximately $35,000 by then and am receiving severance pay of $19,000 on June 30th. Will the pay…

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