Community, Diversity, Sustainability and other Overused Words
Community, Diversity, Sustainability and other Overused Words
Sorted by date Results 1 - 14 of 14
Ask Rusty - When Should My Wife Claim Social Security Benefits? Dear Rusty: I turned 64 in July and my wife turned 62 in August. My wife has not worked for approximately 15 years but does qualify for Social Security on her prior work record. My wife is having some physical issues and would like to not return to work. Since she is eligible to collect Social Security, that would be an option to provide additional income, so she doesn't have to work. My question is how would it affect her future SS...
Ask Rusty -- Older Veteran Asks about Special Social Security Credit for Military Service Dear Rusty: I served in the U S Army from January 1958 to Feb 1961. What increase should I receive for those years and who do I call and at what phone number? Signed: Proud Veteran Dear Proud Veteran: First, thank you for your military service! I expect you are referring to the "special extra credits for military service" which are available to some who served in in the US Military in earlier years. It is...
Ask Rusty – Why Does the Government Raid Social Security? Dear Rusty: The Social Security program is funded by employees and their employers. The federal government does not contribute to the program, right? So why does the federal government feel they have the right to raid the fund? All the money sent to Ukraine and other unnecessary programs could have been used to pay back what they owe to Social Security. Signed: Disgruntled Senior Dear Disgruntled Senior: You are correct that the Social Se...
Ask Rusty - Will my Wife's Survivor Benefit Less if she Claimed Her Social Security Early? Dear Rusty: I claimed Social Security at 70. My wife claimed her own SS at 62, and her earnings were significantly lower than mine. I understand my wife will be eligible to claim my benefit if I pass before she does, but will Social Security reduce that benefit because she didn't wait until age 65 to claim hers? Signed: Concerned Husband Dear Concerned: Your wife's benefit as your surviving spouse will be...
Ask Rusty – Should my Husband File and then Suspend His Benefits? Dear Rusty: My financial advisor used a computer program which told my husband to take his SS at age 68, then suspend it after a few months. What I understood was if my husband started and then stopped taking distributions, he would earn delayed retirement credits and thus get more at age 70. I know waiting increases SS amounts, by 8% a year, but does purposely starting and then stopping SS increase distributions even more? Signed...
Ask Rusty – For Advice on When to Claim Social Security Dear Rusty: I could use some advice on whether or not I should start collecting my Social Security benefits now. I am 67 and 3 months old, and plan to continue working for at least for the next year or two. Signed: Seeking Answers Dear Seeking: Deciding when to claim Social Security is, indeed, an important decision, as it will affect you for the rest of your life. Mainly, deciding when to claim your SS retirement benefit should consider y...
Ask Rusty – Does Congress Pay Into Social Security? Dear Rusty: I've been told that members of Congress do not have Social Security deducted from their pay; Additionally, that their retirement dollars come from the Social Security Administration purse even if they only serve as a member of Congress for a short number of terms. Also, if this is true, are there other individuals that enjoy these advantages? Thank you in advance for your service as a Social Security Advisor. Signed: Concerned S...
Ask Rusty – Will My Wife Get a Spousal Benefit from Me? Dear Rusty: I will be turning 70 (yikes) this coming November. I will begin taking my Social Security benefit at that time. My age 70 SS benefit will be approximately $4,500 per month. My spouse (who is currently 74) began receiving her SS benefits about 10 years ago - before her FRA. She receives approximately $1,900 per month. My question is, based on my expected SS monthly benefit of approximately $4,500, would my spouse be eligible f...
Ask Rusty – I was Self-Employed and Don't Have Enough Credits for Social Security Dear Rusty: For a thirty-year period, I was making a living as an independent contractor and freelancer. I was working on behalf of myself. Thus, I was only paying state and federal taxes when applied. Due to changes in the employment landscape, I wish to apply for benefits at age sixty-four, as receiving said SS benefits would serve as supplemental income to what I would be receiving from outside sources. I r...
Ask Rusty - About Social Security's Earnings Test and Cost of Living Adjustments Dear Rusty: Is there a limit on earnings when you're fully retired? Also, should all retirees receive COLA or is there an exception? Signed: Retired But Wondering Dear Retired: Your questions are fairly simple but, nevertheless, often perplexing to those wishing to apply for Social Security, because the SS rules are many (over 2,700 of them) and those about to apply for their benefits may be simply unsure and want...
Ask Rusty – I'm Working after age 65; Why Aren't I Exempt from Medicare Part B Premium? Dear Rusty: Why, as I continue to work after age 65 and have FICA taxes taken from my check, am I - or anyone - also compelled under the threat of penalties, rate increases, etc. to immediately take Medicare Part B? Am I not then effectively paying into the system twice? As more and more people over 65 continue to work, isn't that a consideration that should be evaluated by Congress - if one is working p...
Ask Rusty – Future Retiree Worried About Social Security's Future Dear Rusty: I keep reading that the SSA will only be able to pay out 75% of benefits come 2033. If congress were to do nothing and this reduction in benefits occurred, would seniors already collecting benefits in 2033 have their benefits reduced or would it only be those who have not begun to collect have their future benefits reduced? I will be collecting my benefits no later than 2027 but my wife will not reach full r...
Ask Rusty – Future Retiree Worried About Social Security's Future Dear Rusty: I keep reading that the SSA will only be able to pay out 75% of benefits come 2033. If congress were to do nothing and this reduction in benefits occurred, would seniors already collecting benefits in 2033 have their benefits reduced or would it only be those who have not begun to collect have their future benefits reduced? I will be collecting my benefits no later than 2027 but my wife will not reach full r...
Ask Rusty – Should I Wait Until Age 70 To Claim? Dear Rusty: I have read your answers to the commonly asked question of "When should I claim social security benefits." You always say one should wait as long as possible (up to age 70) to get the maximum monthly benefit. But I have not seen you address the matter of all the money you could have collected if you start drawing sooner and how many years it will take, if you wait, to recoup all that money. I am now 64. I have always planned to wait u...
