Q & A
Ask Rusty – Is Waiting until 70 Still the Best Plan to Maximize Social Security?
Dear Rusty: My wife started her Social Security at 62 in March 2017 and I filed a Restricted Application to collect a spouse benefit from her shortly thereafter. Our plan is for me to file for my own Social Security…
Ask Rusty – Is Taxing Social Security Fair?
Dear Rusty: Taxing Social Security benefits isn’t fair. It would benefit everyone if seniors could earn as much as possible without having their Social Security taxed. We would still be paying into Social Security which would help the fund. I…
Ask Rusty – About the Basics of Applying for Social Security
Dear Rusty: I am planning to apply for Social Security in May of 2022 and would like to understand how to file. I will be taking it when I am 62. Signed: Ready to Retire Dear Ready to Retire: Congratulations…
Ask Rusty – If I Die, What Happens to the Social Security Taxes I Paid?
Dear Rusty: I have heard that when my wife and I pass, the government keeps all we have paid into social security. Is this correct? Signed: Curious Senior Dear Curious: The Social Security taxes paid while you and your wife…
Ask Rusty – Will My Social Security Be Reduced in the Future?
Dear Rusty: I started Social Security about 2 years ago and I thought that the monthly benefit amount stated to me by Social Security in their letter was guaranteed. That written amount was what I based my decision on to…
Ask Rusty – Is My COLA Increase Based on My Current SS Benefit?
Dear Rusty: I started collecting SS when I turned 70 to maximize my income. One factor that is never mentioned is that the annual cost of living increase appears to be based on the previous year’s payment. I’ve talked to…
Ask Rusty – Will Retiring Early from Work Affect my Social Security?
Dear Rusty: I stopped working at age 55, well before my full retirement age of 66 years and 10 months. I had over 35 years working prior to retiring from work. I don’t intend to start collecting Social Security until…
Ask Rusty – About Including “COLA” in Benefit Projections
Dear Rusty: In your reply to “Confused Senior” about when to claim Social Security benefits, I noticed that you did not take into account any compounded annual increases in benefit payments. While these are not guaranteed and are dependent upon…
Ask Rusty – Is It Always Best to Wait Until Age 70 to Claim Social Security?
Dear Rusty: I’m 66 years old and still (self) employed as a home builder. I have not taken Social Security benefits yet, and don’t need to at this time. If relevant, my business struggled when I first started it five…
Ask Rusty – Does Paying SS Tax Now Increase My Benefit?
Dear Rusty: I started drawing my benefits at age 62 due to being laid off from my job at age 60. I have continued working part time and been paying Social Security and Medicare taxes ever since. I am now…