How Do Social Security Survivor Benefits Work?
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- čas přidán 12. 07. 2024
- Social Security payments can sometimes be a significant portion of a couple’s retirement income. If your spouse passes away unexpectedly, it can have a dramatic impact on your financial wellbeing in retirement. This is especially true if there was a big income difference between you and your spouse. In this article we will review:
- Who is eligible to receive the Social Security Survivor Benefit
- How the benefit is calculated
- Electing to take the benefit early vs. delaying the benefit
- Filing strategies that allow the surviving spouse to receive more from Social Security
- Social Security Earned Income Penalty
- Social Security filing strategies that married couples should consider to preserve the Survivor Benefit
- Divorce: 2 Ex-spouses & 1 Current Spouse: All receiving the same Survivor Benefit
Contact Michael Ruger with Questions: 518-477-6686 or mruger@greenbushfinancial.com
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#socialsecurity #socialsecuritybenefits #financialplanning #greenbushfinancial
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
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very clear and concise explanations, answered a ton of questions
Thank you for this video. You made it so easy to understand.
Thank you,very well explained.
Thank you sooo much for this valuable information. You explained it very clearly.
What a wealth of information disseminated in a very clear explanation. Thanks
You have most clear informations and easy to understand, thank you!
Thanks for a clear and informative video.
Very good explanation. Thanks.
Thankyou soooo much. After searching for answers seers your video was the only one to really me.
Great information explained in a very easy to understand way. Thank You! 🙏🏼
Very good explanation, I will be subscribing to stay informed.
This was very useful information, thx.
Thanks for your help great explanation
Thank you ... well done.
Very clear information.
Great information thank you
Very informative, thank you. My Ex died a month before I reached FRA. So I am collecting 100% of his benefit while my own benefit grows until 70. Social Security did give me all of the correct information and was a lot of help to me. Not everyone is aware of this.
It works the other way as well. Sort of the same scenario for me, however, my husband died six months before my FRA but I began my own benefit first and will be switched to his next month, as I just turned 66. My own SS if taken at age 70 would still fall below his so I did it the other way around which is an option.
ur lucky I was married 25 years and I got squat
@@charlenecanchola6535, my husband died four years ago, when I was 54. His SS benefits will be better than mine, so are you saying I can take mine first, and let his grow until I’m age 70?
Thank very much! God bless you!
Thank you!
Thanks
It’s not fair that it drops off, it should be at least prorated. My husband passed at age 78 and I was 72, and making the highest benefits so I still need his benefits to pay the mortgage and all other expenses which now are more, I need to pay funeral expenses. It’s so UNFAIR
Our federal government has made it where we cannot survive on retirement benefits. This is not right we paid taxes for years
Even worse are three things:
1. If you get a part-time job to increase taxable retirement income to cover the shortfall then a portion of your social security may be considered taxable income 50-80% if you have a 401K, taxable IRA, pension, rental or other taxable income stream. Senator Biden voted for the social security tax, Vice President Al Gore was the tie breaking vote during Clinton's first term.
2. You were married filing joint, but now you are in the single tax bracket which is much narrower so if you have any taxable retirement income stream or a part-time job so you could go into a higher bracket quicker.
3. The Trump tax cuts are set to expire in 2026. If Trump (or GOP presidential candidate) doesn't win AND GOP doesn't control both houses then Dems won't extend those tax brackets. Most brackets, except 10% will see a tax increase because Dems want to "tax the rich", but this also affects retirees with 401K, IRA, rental, pension or other retirement income. Retirees with income over 10% bracket will see a 3% increase even with deductions "adjusted for inflation" which is currently 9% because of Biden's green energy executive orders and the formula for tax deductions can't keep pace with inflation.
Tax rates current and after expiration:
10% -> 10% (No change)
12% -> 15%
22% -> 25%
24% -> 28%
32% -> 33%
35% -> 35% (No change)
37% -> 39.6%
Sorry but it’s not our job to support you. When you were young you and hubby should of saved and you would not need help.
Hello . Thank you for all ur good an accurate information. I did have a question survivor benefits for adult children whom were on disability at age 22 are entitled to parents ss benefits?? Can I please clarify that. Thank u so much.
He mentioned the social security penalty for early retirees, but he didn't mention the part where social security benefits are taxable, 50-80% is included to your taxable income regardless of what age you claim SS. If you have a taxable income stream like pension , 401K, rentals, etc. Income amounts $25K for single, $32K for MFJ will make a small or large portion of social security benefits be calculated into your taxable income. Senator Biden voted for this and VP Al Gore was the tie breaking vote during Clinton's first term.
What if the survivor is not a citizen nor living in the country where husband paid for ssi? Are there still benefits that the wife could claim?
Thank you for a very informative explanation.
I do have 2 questions.
1. My wife passed away 4 months ago, I am still working and making too much earned income. I would like to file for survivor when I retire in early 2023 is there a statue of limitations when you can file for survivor benefits?
2. Are pension, inherited RMD's and IRA's considered earned income?
No there are not a statue of limitation for when you file for your surviving spouse benefit as long as you meet all of the eligibility requirements. Pensions, Inherited RMD's and IRA distributions do not count toward the earned income penalty because they are not considered "earned income".
Wonderful presentation. Very informative. I have a question. is there an increase in benefits if you have military time. I have 8 years. Desert Storm.
From what I understand, you need to provide your DD-214 and you will get an extra $100 credit for earnings for every $300 you earned in the military. I'm pretty sure it goes by your earned base pay which is typically about two thirds of your total military pay. That's why they up your earning credits by one third, to recognize that additional income. If you think about it, It's a pretty sweet deal. You will draw a higher social security amount based on your total military income, but you were only taxed on two thirds of it. Another youtuber named Devin Carrol does videos on social security and he discusses this in one of them. I also read this same information from the social security administration website. It may take some work to find that video, or the information online, but if you want to be sure about the details, It's worth the effort. Best of luck to you with finding confirmation on this. I'm retired military, with just over 20 years of service. When I receive my estimated benefit statements from social security administration, I'm not sure if my estimated amount is already adjusted for my military income, or if they make that adjustment when I file, which I'll be doing in a few weeks. I'll try to remember to update this when I find out. Anyway, good luck to you.
I am sure there is ur military ty for u defending us all
@@tangoindiamike9189 Thank you for sharing. I appreciate you.
Hello!! can you help answer the question of how you figure out what the percentage is for housing,utilities etc? my nephew recieves survivor benefits and I just became the payee it's just him, myself and my husband, would it be split by 3? Want to keep really clear ledgers...any info would be appreciated .... thank you
This video was so clearly explained. Thank you!
My ex is on SSDI currently and if then passes away, am I still able to collect survivorship benefits? The marriage was longer than 10 years.
Since you were married for more than 10 years, as long as you do not remarry before age 60, you are entitled to the survivor benefits. (Comment is for education. Not advice)
I I was 60 years old when i gat it then I sing up on my when was 62
I am 59.and getting sick. Husband was 75.
My husband passed in 2014 and I started collecting spousal benefits I turned full retirement age in February 5th 2021 Social Security withheld benefits due to I am still working I am now 67 and I would like to know when will Social Security start repaying benefits that they withheld
My husband passed away in 2010. At the time of his death we were both receiving disability checks each month. When they started giving me survivor benefits they took away my disability altogether and only gave me part of of his pay. I ask them why they do that. I was told it was because one person does not need as much to live on as two people. This made no sense to me. We were married for 37 years. He was 58 when he passed away and at the time of his death I was 56 years old. Can you help me understand, please? I am now 67 years old and after 10 years since my husband passed away I’m only getting $930 a month.
Question. My partner died in 2005. We were registered domestic partners but marage at that time was not legal. I have not been remarried. Will I be available for survivor benifits? Paul collected SS for 2 -3 months before he died.
My husband passed away 3 months ago.I would like to know if I am entitled to the$250 one time survivor benefit that I never received. How do I apply for it?
My husband died at age 64 4month before 65th birthday was receiving ssdi for 7yrs I became disabled as well am I entitled to his full retirement????
I am 68 year old and waiting till I turn 70 (March 2022) to start withdrawing social security; my wife is 50 and still working. My question is what happens when I die before my wife, will she continue receiving my monthly payment or wait till she is 62. I also have children (less than 18). Thank you.
What is the best way to find out if my ex husband has died? We are both still too young, but I am a planner. He left me abruptly 22 years ago & have had no contact since then. I would want to find out if he was alive by the time I turn 67, or he turns 67. He was younger than me.
if you're age 54 when spouse dies, in order to get the disabled benefit, would you already have to be seeing a doctor or can you go start seeing a dr after your spouse died?
I was disabled in 2003, my husband passed 6 years ago,he was 55 so I get ssi for him now in November he would have been 62 will my ssi go up when his retirement age goes up?
I am not a spouce but i am the son of my parents. I collect ssdi and i was wondering when my dad passes away if my ssdi will get a boost from survivor disability ?
can you work after receiving survivor benefits
If my souse passes away, say at 59 and I am 60, can I get full survivor benefits if neither of us were drawing SSA at the time? That's the part I didn't understand. Thanks!
Yes. Even though neither of you were collecting SS benefits when your spouse passed, it does not change what you are entitled to receive as the surviving spouse, as long as you also meet the other requirements such as married for more than 9 months and not remarried prior to age 60. (Comment is for education. Not advice)
OMG... Thank you so much for this important information. You explained it in a way that I finally understood. Just one thing though. My husband was a Vietnam Veteran and he passed in 2017. We were common law and lived as husband and wife for 22 years. We lived in Austin TX and I still live there. We bought a house together which sadly I had to sell due to threat of foreclosure. We bought vehicles together had joint bank account over the years. Am I entitled to survivors benefit? Please help. I’m in financial crisis. I’m 62 and I couldn’t work after he was diagnosed with ALS and I became his caregiver. Thank you for any help . Very much appreciated. Rita
Happy to help. You had to have been legally married for 9 months in order to be eligible for the survivor benefits. (Comment is for education. Not advice)
Greenbush Financial Group & Money Smart Board thank you for responding. I guess 22 years doesn’t count . So disappointed.
@@ritarodriguez7528 Please seek a lawyer's advise,bec.I remember, that one guy living with a woman without any matrimonial proceedings were considered husband and wife,bec. of their cohabitation for a number of years.Get another opinion please.
@@yuna8388 thank you I will do that. I’m going through some hardship because of it. VA recognized me as his common law wife but SS doesn’t. It’s frustrating.
It depends on what state you live in.... ask Google.
When you say take it back or penalty do you mean you pay taxes or do they reduce your survivor benefits social security monthly amount. My husband has been on social security but just passed away 2.5 weeks ago. I am not at my full age retirement until I am 66.4, I have always worked full time and my husband collected social security and we just paid taxed by filing jointly. I am currently in between jobs and collecting unemployment so I rely on my husband’s social security to pay rent. I don’t want to collect on my personal social security now because I will lose $200 a month. My goal was to retire at 70 because I would get $1000 more a month. They stopped my husband check but I have to wait for appointment with social security so no income coming in but unemployment. Do they retro survivor benefits?
Question I know this is mostly for women but in my situation I'm a 37yr old guy my brother is 34. Our dad died at 49yrs old with enough credits to retire but he never got to use them. He wasn't married when he died and wasn't with anyone for at least 10yrs so his only wife didn't qualify for his benefit. My regukar lawyer who is not SS lawyer said me and my brother should be eligible for survivors benefits since no one claimed them for us because we were 13 and 10 when he passed he said they should backpay the money from age 13-18 and possibly we could get his benefits once we reach retirement age if it's more money than our own benefits would be. Basically asking is there any benefits available to children over 18 once they reach 65 or is this only for minor or disabled children? It would be ashame if he paid taxes all those years and no one can use them. Thanks for any advice.
Can I still receive my deceased spouse S.S. If I retire and collect a CalPERS retirement? Or am I off better drawing from mine even though it much less?
Here my question I was married for 17 years to my wonderful wife she passed away 8 years ago I have been on SSI for years and I filed for survivor benefits amost 2 years ago I'm over 50 and have passed the medical factors but they are still rev
When you work and can get penalized is that counting SS and wages together or is it just your wages
No one seems to cover if the ex spouse passes away at 65 was born in 1954. They were married more then 18 yrs.
The surviving ex spouse is 58 but is disabled and has been since 2004.
Never remarried.
Does the surviving spouse get 100 percent of the ex spouses SS he would have gotten at age 65 or is it reduced?
What should i do my husband pass away here in philippines His 76 year old. We been 3 year living together
Married Less than 9 months , accidental death exception.
Talk about that please.
If someone is collecting survivors benefits off theyre fathers soc sec due to being born blind and disabled will theyre benfit amount change if or when they reach age 62?
Unfortunately I'm not sure how the disability benefits work for SS. I would recommend calling the SS office for guidance. (Comment is for education. Not advice)
If an American expat is married to a foreigner overseas and the American dies at 68 for example (And started collecting at 62) can the foreign wife get his social security? (Survivor benefit)
My husband died 15 years ago before he could finish 40 quarters, I have 35 quarters, so would I add up his quarters to receive survivor benefit at 62?
Hi
I was married for 23 years and divorced. 10years later I remarried at age 57. at 61 and 7 months I got SSD. in 2019 after 12 years of marriage the last husband divorced me. The previous husband passed in 2017 when he was 64 and a half. He was married to someone else at the time. Now I get what the Social security worker said was my share. How was that calculated and I am close to my 71st birthday. What happens if I marry again. Will it be better for me or worse financially?
That's nice question. Hope you let me help you and sorry for your lost
If I'm on disability at 57 yrs old and my x wife of 23 yrs passed away can I collect my survivor benifets and disability? I heard I could collect the survivors benefit at age 50 if on disability
You should look on the web site social security.org . It will definitely tell you there!
I was considered disabled before the age of 22 I draw from my dad's social security records currently well I still get the survivor benefit after he is gone I was just wondering
I have been on ssid since I been 58 and I now going to turn 65...I know it's best to wait until iam 66 & month's to recieve benefits from my ex husband...I was married 20 years and have never married.....my question is if I file now....will I be able to receive his 100% spousal death benefit if he passes before me!!! THANK YOU!!!
Cathy Boskowitz, you would get 100% of what he was collecting or eligible to collect at his time of death.
I want to ask if i am eligible to recieve survivor benefit from my deceased US citezen, because im not US citezen
I’m a widow with two disabled children my daughter has been disabled since 14 she’s 25 now still very sick she gets 522 a month but nothing from daddy’s survivor benefit my younger child gets same as me but they started hers after we applied she was disabled way before how can she get more
How about talking about CIVIL SERVICE RETIREMENT SYSTEM BENEFITS. This I don’t know about. Can my mentally disabled son , when I die can he get my survivor benefits . He became mentally disabled due violent crime.
I was getting social security before my husband that made me receive more benefits than him when he passed I could not draw a survival check and at that time I wad only drawing 854 so sad I still to this day can manage without living in low income apartments
Hello. My husband got sick and started receiving ssdi in 2019 only 964 a month. I was on ssi and voluntarily terminated to become his paid caregiver here in Florida. I'm not doing well. If he should die this year, should I delay taking the survivors benefit and try to get my ssi back till I am full retirement? Will it make the survivors benefit more over time or will I not be eligible for it if I dont take it immediately upon his death? My retirement benefit is miniscule I was mostly his free labor and a homemaker. I am 62 thanks.
Hi Nikki. I wish there was a straight answer for your question but there are a number of variable that will factor in here. Feel free to call me at my office at 518-477-6686 and I will try to provide you with guidance. (Comment is for education. Not advice)
should your survivor benefits change if you dont work mine went from 851.00 to 10.00 per month
What about if I have a chald age of 7 years old and I started taken my social security from (60) and I'm still working till 68, what's going to be my benifit?
Please my email address is (fsenaya@gmail.com)
I am a widow of 6 years. I am 63 and just retired. Can I take my social security at a reduced amount now and then when I turn full retirement age take my late husbands social security at the maximum amount?
I took my social security benefit at 62 with 30% discount. I would like to know if this discount also apples to my surviver’s benefit, I’m 68 already.
My wife recently passed at 64 three months before her 65th birthday and when she planned to claim SS benefits. I retired about 2 years prior to her passing and was receiving my pension benefits. I applied for and was awarded survivors benefit but the benefit was reduced to zero because (as it was explained to me) my pension benefit - 75%, was more than the awarded survivor benefit. That's when i was made aware of the GPO. (Government Pension Offset) The rule that says a government (federal, state or local) employee who earns a pension, and you DON'T contribute to SS...
My issue is I've been contributing to SS while working at this same job for nearly 40 years. I never stopped contributing to SS and it was never offered to me as an option to stop. Am I missing something? I've since submitted a "reconsideration" application, but I've not heard from SS yet.
Don’t let anyone confuse you by “accidentally,” or otherwise, misusing/confusing “survivor” benefits and calling them “spousal benefits”. They are not the same thing; they are not interchangeable terms. Even many SSA employees know very little to nothing about “survivor benefits” which is why it falls on you to do your homework.
Can I apply for unemployment with 1,100.00 survival benefits approved?
I live by myself I am 74 years old and I am on ss I don't make much and it's hard to try to make it
What if the first wife did not work he earned over 200k per year and was married for 35 years, then divorced and remarried and in 3 years he was dead... How does SS pay both widows???
hello!can an american expat wife in philippines,can claim his survivor benefits after his death from social security?tanx
How does the the 10 year vs 9 month length of marriage differ? My spouse is on SS an if he dies now I have 10 years before I reach the age to claim. If we are not married more then 10 years can I get the benefit in 10 years?
For the current spouse at the time of death, the marriage had to have occurred at least 9 month prior to their passing for the current spouse to claim the SS survivor benefits. The 10 year rule is for ex-spouses. If the marriage to the ex-spouse was more than 10 years, and the ex-spouse did not remarry prior to age 60, they would be entitled to the survivor benefit as well. Technically more than one person can claim survivor benefits on the same decedent and it does not decrease anyone's benefit. Extreme example, if someone was married 3 times, and each marriage lasted more than 10 years, assuming none of the ex spouses remarried before age 60, all three ex spouses would be entitled to full SS survivor benefit. (Comment is for education. Not advice)
So is it 100% at age 60 or 67 for widow since I’ll a widow and lacking income since my husband manage everything. It would be nice to have be collecting Social Security at 60 versus if I have to wait until 67. Although I understand the chart about 60 and 62 and 30% less so could you explain would much be appreciate it.
You are entitled to 100% of the widows benefit amount at 67, if you take it early it’s reduced by about 6% per year for each year you take it before your SS full retirement age. (Comment is for education. Not advice)
Do you know how an 80 old on fixed income of 1,534. Each month . I had 4 back surgeries but I worked until age 75 but had to stop and during that time lost my home and all my assets. Now I have credit score has gone. Down. I saw a dentist & he gave me an estimate of over $15,000 . Can you tell me if there is any help programs or free dental? I’d appreciate any help you can can give. Thank You
My husband and I filed early me at 50 he had passed so I had to wait a a year he had 3 kids previous marriage they recieved 680 a piece. They said there was a limit so since they paid kids I coukdnt get much what can I do
If still working and start to collect at age 60 and make 7k over the limit can you contribute that 7k to 401k to eliminate the penalty
I would love to talk with you !.. My wife died ..age 36 Nov 2008.. at the time our only child was just months old. My own convicted felon (1988) mother intercepted and lied to the SS administration ...claimed she was caring for my daughter including me living with her resulting in her stealing ALL of the survivors funds from my deceased wife.Still to today's date she receives my now 12 year old daughter's portion. I have never recied with my mother passed age 19 and briefly after the Marine Corp release in 1996. My mother took me to corrupt family court to get guardianship and remove fathers rights ...my wife's name was forged for consent. I have so much proof from the banks claiming this. Could you point me in the right direction ? I would appreciate any help.
I did not know that you had to pay taxes on Social Security spousal benefits
What happens when the dead spouse also has another spouse....he has both divorced snd the present wife before his death. Would his second marriage affect the ex-spouse benefit?
Spouses and ex-spouses have no impact on the widow's benefit that is available to each person independently. For ex-spouses, as long as the marriage lasted more than 10 years and they did not remarry before age 60, they would be entitled to the widow's benefit even though they were not married to the decedent at the time they passed. If the decedent was remarried, that spouse would also be allowed to collect the full widow's benefit. (Comment is for education. Not advice)
In your example 1, Jim $2500 and Sara $2000. When Jim dies does Sara get $2500 no matter what age she or Jim started benefits? For example Jim’s $2500 is based on age 70 vs Sara $2000 is age 62.
My dad passed away at 75 and I need help with getting serviers benifets
I'm living in Virginia and have been living with the same person for 20years but not married is there a common law to pass on my benefits to her , thank for i tlme👍
As of right now there are not SS survivor benefit for domestic partners, only married couples, and you have to be married for 9 month prior to the their date of death to be eligible to receive the SS survivor benefit (Comment is for education. Not advice)
Hard time to set up
MY ACCT/SSA. SND
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Hi my wife past away at age 42 and I am 50 and was left with 2 small children under 6. I am unfortunately out of work and they asked if i wanted to collect benefits along with my children since i am caring for both. Can i still collect mine when i am 62 ?
I thought I read on the Social Security website that the survivor benefit maxes out at the amount the PIA, the amount that one gets at full retirement age - it does not increase if a person waits until 70 to take social security. Your video (and other things I read) seems to contradict this when you said that when one person dies the other gets the higher of the two benefits. If my wife, who is 6 years younger than me and earns less than me, takes social security at 62, and I wait until 70, when I die will she get the amount that I earned by waiting until age 70 to file, or would she get the amount that I earned at my full retirement age. Does her taking social security at 62 on her record impact the amount she would receive as a survivor benefit, provided she is at or above full retirement age when she switches to survivor benefits?
Delaying the social security start date past FRA (full retirement age) does increase the survivor benefit available to the spouse. The social security website may reference PIA which would be the survivor benefit available if the spouse passes away prior to reaching FRA without turning on their benefit. Example: If my spouse passes away at age 50, I would be entitled to receive their full PIA. If my spouse is entitled to $2,400 per month at age 67 or $3,000 at age 70, and they decide to wait to turn on their benefit at age 70, and at age 71 she passes away, as her surviving spouse I would be entitled to receive her full $3,000 monthly benefit (which includes the annual increases). Visa versa, my spouse electing to turn on her benefits at age 62 would decrease the survivor benefit that’s available. When a spouse passes away, the surviving spouse receives the higher of the two benefits, their own benefit or what their spouse was actually receiving (if they have already turned on their Social Security benefit prior to passing away). Filing for your own benefit versus the survivor benefit are independent of each other. A surviving spouse, can elect to turn on the reduced widows benefits, at age 60, but allow their benefit based on their own earnings history to continue to accumulate until age 70, and then switch over to their own higher benefit when they turn 70 when their Social Security is at the max amount. (Comment is for education. Not advice)
@@greenbushfinancialgroup Perfect, thanks. Now I think I've got it!
Can you help me my husband dies at ages 90 how can i file widow benefit ? My problem is in my marriage contract my birth date is nov.24 1963, in my birth certificate is nov.24 1961 .can i qualify now for widow benefit marriege for my husband for 20 years.
But the children should still get their checks
Hello Michael! I have a question. I will be turning 60 next August. I have been a widow since 2017 and my late husband was collecting Social Security starting at age 62. Recently I visited my local Social Security office to ask questions about Social Security Surviving spouse benefits. I know the annual working income limit for 2024 is $22,320 and it is $1,860 monthly. I know that it is $1 taken out for every $2 over that limit. I told him I earned close to $50,000 this year of 2023. When I do the Math I will get a little bit each month. Not much though. I was told not to apply because my income is too high. He suggested that I start working part time and in the future I can apply for benefits with a lower income.. Nowhere on the SSA website did I read that there is an absolute maximum income limit before you should not bother to even apply for benefits. He wouldn't do any calculations to see if I am eligible for anything. Was I given the correct information? Thanks.
Depending what the amount of your SS benefit would be, there is filing strategy that involves filing under the survivors benefit even though you may face an earned income penatly. But a lot depends on the amount of your SS benefit versus your spouses. Feel free to contact me at our office and I can help 518-477-6686 (This comment is for education. Not advice)
My husband passed in 2001 my daughters spilt his ssd, they are over 18, I never took widows benefit was not even offered it when can I claim his social security disability i am 54 now
As I understand it. IF you have not remarried before your 60th birthday, you're eligible to claim survivors benefit of deceased spouse.
Thanks for this informative video! I wish I had found it sooner. I’m 59 now, and my late husband’s SS benefit will be much higher than mine, so I should consider taking mine and letting his grow. Can I take mine at 60, or do I need to wait?
It could be a viable strategy but you also have to consider the earned income penalty if your are still working. If you turn on any SS benefit prior to normal retirement age and have earned income over $19,560 in 2022, the IRS may clawback all or a portion of the SS benefit the following year. But if you have no earned income, I may be a viable strategy. Your SS benefit is not avaialble until 62, only the widow's benefit based in your last husband's earnings history is avaialble at age 60. Feel free to call me at my office and we can discuss the an optimal filing strategy in more detail: 518-477-6686 (Comment is for education. Not advice)
@@greenbushfinancialgroup Thank you for such a timely response!! I’ll be sure to recommend your channel to my friends. I’m assuming income from investments are not earned income.
Yes hello I would like to know as a working spouse who husband deceased in 2014 and I started to collect spousal benefits I am still working and social security has withheld benefits for me because I was making over the benefit amount I turn 66 full retirement age in February 5th 2021 I would like to know when will Social Security start paying me back the money they withheld because I was making too much money I am now 67
I don’t think survivors should get a check if they get remarried
Ok what if your husband passed at 45 yrs of age and he's worked since the age of 15 paying in Social Security and married for 22 yrs...I'm his widow and our children are adults now....My question is ..Is there a way for me to collect his benefits now as a widow? I've had people to say that I could and should be receiving it..
The widow benefit will only be available to you when you turn age 60, if you do not remarry before then. (Comment is for education. Not advice)
It should be noted that the cap on income (other than SS) rises considerably during the year in which you reach Full Retirement Age.
For example in 2021 the cap is $18,900, unless you reach FTA this year. In which case your income cap before penalty on benefits is $50,520.
So, take your benefit in January instead of waiting until later. (You will lose 6% of your monthly benefit amount.)
If your benefit is $2,000 per month and you work all of 2021 you will realize additional income of $22,560.
“But my life time benefit is reduced by $120 per month” you say. $22,560 divided by $120 is 188 months. It will take you 15 years 9 months to make up the difference. I’m not gonna live that long, more power to you if you think you are.
It would be a nice retirement bonus, after all: “A bird in the hand...” my friends.
What happens if your spouse is 18 years older and God Forbids they pass away you're 44 ?? Will you qualify for anything ? And He receives VA Pensions aswell?? WHAT advice would you give for a very much younger spouse So far you're been married for 10 years +
Apply for DIC . Dependency Indemnity Compensation. Read if you qualify.
My situation. 38 and my spouse died today. We were separated but never divorced.
My wife get $1200 a month for retirement she passed away 20221 we married almost 16 years..I'm only 47 do I have survivor benefits ?