Q & A
Ask Rusty – Using IRA instead of Claiming SS; Disability Appeal
Dear Rusty: I am currently unemployed and drawing funds from my IRA. I am 62 years old. My financial adviser instructed me to not take Social Security because once I do that the percentage of increase would stop. He said…
Ask Rusty – About the Dreaded “IRMAA” Provision
Dear Rusty: About a month or two ago I was notified that my Social Security was being reduced from $1,583 a month to about $1,283 a month – a $300 deduction! They said it was because my income was over…
Ask Rusty – Will Taking My Benefit Early Affect My Widow Benefit?
Dear Rusty:. My husband is 70 and has been taking Social Security for several years. His benefit is $2,100 per month. I am 60 and will turn 61 in March. I have very little built up and my expected SS…
Ask Rusty – Does Social Security Ever Make Mistakes on Benefits?
Dear Rusty: Can or does the Social Security Administration occasionally make mistakes in determining the benefits due? I’m now 72 but I retired early at age 61 and knew that my benefits would be reduced. I’ve always wondered if my…
Ask Rusty – Will Selling Large Asset Affect Wife’s Social Security?
Dear Rusty: If I have reached full retirement age (FRA) and wish to sell a $500,000 asset, will it affect my wife’s Social Security if we file jointly? I have heard that it will affect my Medicare (the amount withheld…
Ask Rusty – Why Did My Social Security Payment Go Down?
Dear Rusty: Upon reading a magazine article about the 2020 COLA increase, I thought I’d share the following: Like others, I received the 1.6% raise in my Social Security benefit. However, after their manipulations with Medicare, the net result was…
Ask Rusty – What happens to my Social Security if I die at age 62?
Dear Rusty: I have worked my entire life and contributed to Social Security. I have been single my entire life with no children. What happens to all that money I have contributed to Social Security if I die at age…
Ask Rusty – About Warnings to Make Sure I “file properly”
Dear Rusty: I am currently 63 years old and planning to delay retirement until 70 to maximize my benefit. I’ve been seeing a lot of financial planners advertising claims that you can lose thousands of dollars in benefits if you…
Ask Rusty – We took benefits early; can we get more now?
Dear Rusty: My birth date is 1947. My wife is 1950. We both took our Social Security years ago at age 62 due to health concerns because we questioned if we would live to age 78 to equalize the extra payout…
Ask Rusty – When Should I Claim My Widow’s Benefit?
Dear Rusty: My husband passed away at the age of 52, and I was 53. I am currently 59. I’ve read about and been encouraged to file for widow’s benefits from Social Security when I turn 60. My question is:…