Q & A
What’s the difference between File and Suspend and Restricted Application?
Complete Question: Even though I’m 66, I’m not ready to retire. If I did, my Social Security benefit would be $1,500. My wife, on the other hand, is 64 and she was forced into early retirement, so she wants to start…
When is the earliest you can start collecting Social Security?
Complete Question: I know that it’s not the most popular thing to do to collect Social Security as soon as you’re eligible at 62, but some of us just have to do it. I did hear something strange, though, that I…
How is the spousal benefit reduction calculated?
Complete Question: I know the major advice is to take your Social Security at age 70, but my husband and I just can’t afford to do that. So we’re just trying to think of the best way to get our benefits…
When should my wife and I apply for Social Security?
Complete Question: I am 66, but still working. My wife is 62. She’s still working, but is planning on quitting soon. We’re not sure when to apply for Social Security because we don’t really understand all the rules. For example,…
How does the government justify paying high benefits to high earners who didn’t pay taxes?
Complete Question: From what I understand, our Social Security benefits are determined based on our highest 35 years of earnings. However, there is a maximum amount of income that is subject to Social Security tax. That really doesn’t seem fair.…
Can I get delayed retirement credits on survivor’s benefits?
Complete Question: My husband just passed away at the age of 67. He had not started collecting his Social Security yet because he wanted to get as much delayed retirement credits as possible. In the meantime, I have been getting…
Will my Social Security benefit increase once I reach full retirement age?
Complete Question: I won’t be full retirement age for another two years, and as much as I’d like to wait to get Social Security, I just can’t afford to. I know I’m going to get a reduced benefit for not waiting.…
Am I understanding Social Security Survivor benefits correctly?
Complete Question: With four children under the age of 10, I want to make sure my family is taken care of financially if something were to happen to me, so even though I am only 31 years old and my…
Does Social Security Count Toward Income for ObamaCare?
Complete Question: I am on Medicare (66 years old), and married a woman of 58 this past summer. When she was looking into the cost of her insurance, she was told that my income ($1600 per month in Social Security), counted…
Can I have taxes withheld from my Social Security check?
Complete Question: I am kicking myself because I filed my income taxes for 2014 and owed a lot of money. I kept hearing that I didn’t really need to worry about my Social Security benefits, so I didn’t. Little did…