Q & A
WHAT IS SUBSTANTIAL GAINFUL ACTIVITY (SGA) ACCORDING TO THE SOCIAL SECURITY ADMINISTRATION?
Answer: To be eligible for disability benefits, a person must be unable to head shot of Lesly Quin engage in substantial gainful activity (SGA). A person who is earning more than a certain monthly amount (net of impairment-related work expenses) is…
My ex-wife is on full disability, has been for years, but will not have reached full retirement age when I do. My question: Since we were married for more than 10 years and have been divorced for more than two years, can I file for a spousal benefit when I reach full retirement at age 66?
Answer: If your ex-wife weren’t disabled, she would need to be at least 62 and you would have to have been divorced for two years or she would have to be collecting her retirement benefit for you to be able to…
I retired last year, started Social Security, and expect to work part-time this year on a fill-in basis. If I reach the retirement earning limit amount for the year, is it my responsibility to notify Social Security? Are benefits reduced for work immediately or resolved at years’ end. I am 63.
Answer: Yes, it is your responsibility to contact Social Security. Report your estimated earnings for the calendar year as soon as you think your earnings will exceed the annual limit for your age. You can provide updated estimates during the…
What dependent benefits are available for children of older parents?
Social Security for the New Family Many people wind up having children later than they used to, partly because we’re living longer. But late-life kids may qualify for Social Security benefits along with their parents. Actor Kelsey Grammer is a…
My husband and I are retired. Our combined income will be $45,000 per year, and together we have $200,000 in 401(k) plans. What should we do with the money in the 401(k)s that will provide the best supplemental income option in retirement?
Full Question: My husband and I are retired. Our combined income will be $45,000 per year, and together we have $200,000 in 401(k) plans. What should we do with the money in the 401(k)s that will provide the best supplemental income…
I need proof that I receive Medicare benefits. Where can I get a letter proving that?
Answer: If you need proof that you get Social Security benefits, Supplemental Security Income or Medicare, get an instant benefit verification letter online by using your personal my Social Security account. If you don’t receive benefits, your letter will serve as…
My same-sex partner and I recently married. Will we qualify for Social Security benefits?
Answer: You may be eligible to apply for Social Security benefits. Many factors affect your eligibility for benefits, including how long you worked and your age. Social Security is now processing more claims in which entitlement or eligibility is affected…
Social Security Q&A: How many credits do I need for benefits?
Question: I’ve only been working for a few years, and I’m wondering how I earn Social Security benefits. What are credits and how many do I need to qualify for benefits? Answer: We use your total yearly earnings to calculate your Social…
Is $1 Million Enough to Cover the Average American’s Expenses in Retirement?
Even though $1 million may not go as far these days as it used to, it’s nevertheless more than enough to cover the average American’s expenses in retirement. The average cost of retirement Every year, the U.S. Bureau of Labor…
What is the penalty for being a late enrollee to Medicare Part D?
Answer: The first challenge to being a late enrollee into Medicare Part D is that you have to wait until the open enrollment period to enroll in a plan. Again, that is Oct. 15 – Dec. 7 and coverage will commence…