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As I understand it, I only need to sign up for Medicare Part B, which I think I can do now. Can I do this online, or do I need to go somewher
Dear Rusty: I was born in 1956 and my wife in 1961. Iâve got 45 years of SSA earnings, and I will have income in 2021. We have 4 minor children, the youngest born in 2012. When is the best time for us to apply for benefits? Are we eligible for family benefits? My statement infers that we are. Signed: Older Dad Dear Older Dad: Born in 1956, your full retirement age (FRA) for Social Security purposes is 66 years and 4 months. If you claim your SS benefit at any time before your FRA, it will be permanently reduced. If, for example, you claimed your SS benefits now, the amount would be perma...
• Whether you are still working When you should claim also depends upon your personal benefit goals. For example, if you wish to maximize your monthly SS benefit amount you can best do that by simply waiting until age 70 to claim. For each full year you delay past your full retirement age (FRA), your SS benefit will grow by 8 percent, up to age 70 when you get the maximum you’re entitled to. If you are married and die first, that will also provide your widow with a higher benefit as your survivor if your wife’s own benefit is less than yours. But waiting until age 70 to maximize isn...
Dear Rusty:I’m almost 59 and hope to retire from working soon. Should I take Social Security as soon as possible, or wait for the maximum amount?Signed: Planning Ahead Dear Planning Ahead: I’m afraid there’s no simple answer to your question, except “it depends.” It depends on your health; it depends on your need for the […]
GREAT BEND TRIBUNE More By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism. Wife’s benefits not affected by husband’s state pension Social Security Matters Dear Rusty: I am 73 and receive a pension from my state’s Police and Fire Pension Fund. I took a full pension, so my wife only gets a widow’s pension when I die, and this is only a fraction of what my full pension is. I also get a small Social Security benefit, about $95 a month, and that amount is pro-ra...