Q & A
I was married to my first husband for 14 years, until he died. I got married again for another 18 years, until the second husband’s death. A few months before I turned 60 I married for a third time. Now, approaching age 65, I’m wondering if I can get Social Security benefits from any of my husbands.
Answer: Unfortunately, it appears that that you cannot, at least in the case of the first two husbands. If you had remarried after age 60, you would have been entitled to benefits on your prior deceased spouse’s Social Security earnings record. But…
When we start retirement, which asset (or a combination of assets) do we spend down first? I believe filing jointly, we should not have more than $74,000 or so to claim as income each year, otherwise we will no longer be in the 15% tax bracket and most likely be penalized further by Social Security.
Answer: Many people approach this issue from the same angle I think you have. They want to stay in a tax bracket of 15% or less. Because distributions from pretax retirement plans are taxable as ordinary income, long-term capital gains…
I plan to apply for my Social Security benefits in September. When can I expect my first check? And, is direct deposit my only option for receiving my monthly payment?
Answer: Generally, Social Security retirement benefits (as well as disability and survivor benefits) are paid in the month after the month they are due. So, if you apply for your Social Security benefits in September, you will receive your September benefits…
I am in my early 30s. While I certainly hope Social Security is around when I retire, I keep hearing doom and gloom about the program’s future. Do most younger workers feel pessimistic about Social Security?
Answer: It appears there is a general pessimistic opinion about Social Security’s future among today’s younger workers. Consider a recent post by Kathy Stokes, the director of the American Savings Education Council. Recent analysis from the nonpartisan Employee Benefit Research Institute, also…
What does the Social Security Advisory Board do?
Answer: Advise the President, the Congress, and the Commissioner of Social Security on Social Security (OASDI) and Supplemental Security Income (SSI) policy. Read more… Source: Social Security Advisory Board Notice: The “Read more…” link provided above connects readers to the full…
When is a Person Considered Disabled by Social Security Disability?
Answer: Social Security evaluates disability according to a long list of laws and regulations; there is no simple answer. What constitutes disability? For Social Security disability or SSI purposes, to be considered disabled, individuals must have an impairment, either medical, psychological, or psychiatric…
Where else can I find answers to Medicare questions?
Answer: Medicare has online resources for you. Register at MyMedicare.gov to: Create and print an “On the Go” report that lists information you can share with your providers. Add or update your health information, like medical conditions or allergies. View or…
If you opt out of Medicare, because you are working can you sign up later?
Answer: Yes, you can. If you have insurance through your own or your spouse’s current employer, you can delay Medicare enrollment until you/ your spouse who insures you retires. This Special Enrollment Period to enroll into Medicare lasts the entire time…
Social Security: To Draw or Not to Draw? That Is the Question
General Discussion: I have just turned 66. All my friends, family, colloquies, and people in line at Walmart tell me I should apply for benefits since now I can draw “Full” benefits and keep working, which is the boomer generations equivalent…
Social Security: Can You Claim Benefits If You’re Divorced?
Answer: It can be a little complicated, but you can claim retirement benefits based on an ex-spouse’s earnings — called the “spousal benefit” — if you meet a few guidelines. First of all, you can’t claim at any time, and the…