Q & A
What’s the difference between WEP and GPO?
Complete Question: I know a government pension affects Social Security benefits in some way, but what’s the difference between WEP and GPO? How do I know which one applies to me? Answer: You are right that government pensions affect Social Security…
Why am I paying a Medicare premium? Didn’t my taxes cover that?
Complete Question: I’m signed up for Medicare for 2015 for the first time and I was told I’ll be paying a premium of $104.90 per month. I’m really confused. I knew I had to pay for prescription drug coverage, but…
What’s the difference between SSI and SSDI, and what should I apply for?
Complete Question: I need to file for disability, but I don’t know if I should file for SSI or SSDI. What’s the difference? Answer: SSI stands for “Supplemental Security Income” and SSDI stands for “Social Security Disability Insurance” and they both…
When I file for benefits, will they be the same the rest of my life?
Complete Question: I will be eligible for Social Security benefits this year. I am supposed to be able to receive $1,700/month, which sounds okay to me. But I doubt I can live off of that amount in 10 years. Will…
I’m a New Year’s baby…does that affect my benefit eligibility?
Complete Question: I’m a New Year’s baby, meaning I was born on January 1st. I’m confused by the Social Security eligibility rules because they say something about your eligibility being different if you were born the first of the month…
Is there really a maximum Social Security benefit? That can’t be right!
Complete Question: I made a very good living all my life and expect to retire in a few years. I just assumed that since I paid a percentage of my salary in Social Security taxes, that it would be enough…
How do I maximize my Social Security benefits?
Complete Question: I keep hearing all these terms like “file and suspend”, “voluntary suspension”, “claim and suspend”, and “restricted application” that are supposedly meant to maximize my Social Security benefits. Are they all different terms for the same thing? Are…
I got Social Security for the first time this year…will it be taxed?
Complete Question: This is the first year I ever received Social Security benefits. I have other income from investments and salary from before I retired. I was informed that due to my high income this year, there is a good…
Should I take my Social Security benefits at 62 because I’m eligible?
Complete Question: I just turned 62 and my husband will be 66 in 2015. We are both eligible for Social Security benefits due to our own work and do not have to rely on spousal benefits. My husband took his benefits…
Can married couples receive a higher Social Security benefit?
Complete Question: I saw a question posted on your website the other day where a married couple asked if being married could cause a decrease in benefits. Can being married cause an increase in benefits? Answer: Actually, it can, but…