Q & A
Can I join the Air Force Reserve and still receive disability pay?
Answer: Yes, providing you are otherwise qualified. As long as you can pass the entrance physical exam, you qualify medically for the Air Force Reserve. Just remember, you will not draw both Reserve Pay and Disability pay on the days you…
When life partners should marry to benefit from Social Security
Situation: Like many boomers, my “life” partner and I chose not to get married, preferring to keep our finances separate. Twenty years in, at ages 61 and 60, we are wondering if we should reconsider tying the knot due to Social…
If I am approved for Social Security Disability, will my children get benefits?
Answer: Under certain circumstances Social Security will provide benefits to your children if you become disabled. Social Security considers biological children, adopted children, or dependent stepchildren to be children of the disabled individual. Read more… Source: http://www.mountaineagle.com, October 14, 2013 Notice:…
If I am approved for Social Security Disability, how much back pay will I get?
Answer: Because the Social Security Administration takes so long to process disability claims, most people who are approved for disability are owed back payments. In addition, if you are approved for Social Security disability benefits (SSDI), you can get retroactive payments from…
Are CSRS retirees required to join Medicare by age 65?
Answer: No, you don’t have to sign up for Medicare. However, it wouldn’t make any sense for you not to sign up for Part A because you’ve already paid for it through payroll deductions, and the benefits are free. Part B…
Will I need a million dollars to retire?
Answer: How much money you need to save for retirement depends entirely on the standard of living you plan to have. And, trust me, a loosey-goosey estimate that figures on “a used-car payment and groceries” won’t do. You will need a…
How do I know if I have worked long enough to qualify for Social Security disability benefits?
Answer: You must have worked long enough – and recently enough – under Social Security to qualify for disability benefits. Social Security work credits are based on your total yearly wages or self-employment income. You can earn up to four credits…
Will the retirement of the baby boomers overwhelm Social Security?
Answer: No. The baby boomers’ retirement did not catch Social Security by surprise. Benefit reductions that were enacted 30 years ago, including gradually raising the age of eligibility for full benefits from 65 to 67, are still phasing in and have…
Who are Social Security’s trustees and why do they issue an annual report?
Answer: Social Security has six trustees: the Secretaries of the Treasury, of Labor, of Health and Human Services; the Social Security Commissioner; and two public trustees, who by law must be from different political parties, are appointed by the President, and…
If I’m retired and my former employer offers me insurance, can I shop on the exchange to get a better deal?
Answer: Even if your former employer offers coverage, you can opt to buy a plan on the exchange. However, you may not be eligible for a subsidy. Source: www.npr.org, October 12, 2013