Q & A
How Many Social Security Credits Do I Need For Disability Benefits?
Answer: You may be asking yourself, “What are Social Security disability credits?” These credits are one of the areas that Social Security goes by to determine eligibility for Social Security Disability. If you are not familiar with what these credits are,…
How do I tell Social Security that I have changed my mind?
Answer: Fill out Social Security Form SSA-521 and include the reason why you want to withdraw the application on the form. Note: If you already have Medicare, your request must also clearly state whether your Medicare coverage should or should not be included in…
Can I change my mind about taking early retirement?
Answer: Yes, but only within one year and there are serious consequences to consider: 1. You must repay all the benefits you and your family received based on your retirement application.2. The repayment obligation includes any benefits your spouse or…
What happens if I don’t take early retirement but then I am found disabled?
Answer: The advantage of this approach is that you will begin receiving benefits at a level likely to be higher than early retirement benefits would have been AND there will be no penalty on your retirement benefits when you do retire.…
What happens if I take early retirement and after that I’m approved for disability?
Answer: It depends on the date that you are found to have become disabled, so it is a gamble. If you take early retirement and later on you are found to have become disabled before your early retirement benefits started, then…
How much will my benefits be reduced if I take early retirement?
Answer: That depends on the year you were born. Social Security has a chart of birthdates and reductions at http://www.socialsecurity.gov/retire2/agereduction.htm. As an example, if you were born between 1943-1954, your full retirement age is 66. If those in that age group…
I will soon sign up for Medicare at age 65, but I am not getting Social Security yet. How do I pay Medicare premiums if not receiving monthly SSA benefits?
Answer: A quarterly payment schedule is arranged that is payable by automatic deduction from a savings or checking account, by check or money order, or by credit card. Details are on the Medicare website, www.medicare.gov. Note that you might not have a…
Can I Still Collect Divorced Spouse’s Benefits if I Marry My Civil Union Partner?
Full Question: I am getting laid off and would like to collect my ex-husband’s Social Security when I am 66. I am 64 now, and am not remarried. My ex is still alive. I am also considering marriage to my civil union…
How Are Social Security Benefits Taxed?
Answer: One thing that many new retirees forget is that they may need to pay taxes on a portion of their Social Security benefits. These benefits include monthly retirement, disability, and survivor payments — but not supplemental security income (SSI)…
What are the ramifications of divorce on Social Security claiming strategies?
Full Question: I will turn 62 in November. My wife has been the principal wage earner over the past 25 years while I raised our now adult children. I worked as a self-employed manufacturers’ representative from 1991 to 2007. From 1976…