As you know, you can receive Social Security retirement or survivors benefits and continue working. If you happen to be less than Full Retirement Age (FRA) and you earn more than certain amounts though, your benefit will be reduced. (Note: these reductions are not really lost, your benefit will be increased at FRA to account [...]
Posts under ‘social security’
The File and Suspend Tactic for Social Security Benefits
This is another provision of the Social Security system that is filed under the “Little Known Facts” section – although it is becoming more known these days. How it works and what’s important about it is the subject of this article.
How File and Suspend Works and Why It’s Important
Any worker can establish a benefit amount [...]
Social Security Survivor Benefits
The Social Security system has provisions for taking care of surviving spouses of workers who have earned credits under the system. There are two particular benefits that you should be aware of – a small death benefit of $250, and a Survivor Benefit based upon the worker’s Primary Insurance Amount. It is the latter benefit [...]
Social Security Eligibility
In order to be eligible to receive Social Security benefits – retirement, disability, or survivor benefits – a worker must earn eligibility to receive the benefits. The general rule of thumb is that for full benefits, the worker must earn at least 40 quarters of credit within the system.
Social Security Credit
Generally speaking, a quarter of [...]
A Little-Known Social Security Spousal Benefit Option
Most everyone is familiar with the concept of Social Security Spousal Benefits – if not, see this article for a complete explanation.
In this article, we’ll be discussing an option that is available to all married recipients of Social Security retirement benefits – but you might not have thought of it. For most all married couples, [...]
Ah, Sweet Procrastination!
It’s usually best, for most things in the financial world, to act now rather than waiting around. The notable exception is with regard to applying for Social Security benefits. We’ve discussed it before (in fact part of this article is a re-hash of an earlier post) but it is an important point that needs more [...]
Social Security Spousal Benefit for Divorcées
Recently we talked about the spousal benefit for Social Security retirement benefits. It is also important to note that similar benefits are available to divorced spouses.
A divorced spouse is eligible for a Social Security retirement benefit based upon the PIA (Primary Insurance Amount) of his or her ex-spouse under the following conditions:
he or she is [...]
The Spousal Benefit Option for Social Security Benefits
There is a provision in the Social Security system that many people don’t know much about – the spousal benefit. This benefit is applicable when one spouse has had little or no working history, such as a stay at home mom or dad, and the other spouse has had a working career that has provided [...]
Calculating the Social Security Retirement Benefit
There are three factors that go into determining the Social Security retirement benefit amount – your PIA (Primary Insurance Amount), your FRA (Full Retirement Age), and the age you are when you start receiving benefits. We talked about the PIA here; then we talked about the FRA here. Having these two numbers, we need to [...]
Social Security Bend Points Explained
Okay, you’ve probably already guessed that this has nothing to do with deep-sea diving, but I’m pretty sure I would have disappointed my seven loyal fans readers (okay, it’s really more like two or three – Hi, Mom!) if I hadn’t made the pun. Bend points are the portions of your average income (Average Indexed [...]
