Social Security

1. Questioner: Ginny

   Question: I am 64. I wanted to hold off taking my Social Security till I am 67. My hours have been cut back at work and I need extra income. I have 2 ex husbands that I was married to both for over 10 years each. Can I go ahead and collect on one of their social security and then start collecint my own when I hit 67? Thanks View Answer

2. Questioner: Jerry

   Question: I am receiving my SS distribution. If I become employed, is my employer still required to withohold SS taxes from my paycheck. Can you cite the applicable IRS regs? View Answer

3. Questioner: DICK

   Question: I am 63 and have a SEP. If I wait until after I start drawing social security pension to withdraw or roll over my SEP, will that distribution count as income toward determining whether or not my social security will be taxable? View Answer

4. Questioner: Brenda

   Question: I am a 58 year old woman working full time in a low paying job, i just got a divorce from my 54 year old husband who is a postmaster and makes a lot more money than i do. Our children are both grown and gone. My question is: when i reach 62 what social security will i get? Mine or his or half of his or what?? Can i draw off his even though he will only be 58 when i start drawing?? View Answer

5. Questioner: Karen
   
   Question: My husband is 66. I am 61. Can I claim SS under my husband when I reach 62 and then refile for my benefits when I turn 66 my full retirement ag. View Answer
   
   
6. Questioner: Rose

   Question: I am 77 yrs old (Federal employee/social security pension). My husband is 86 yrs old (social security pension). Can I draw part of his social security? I thought the spouse had to die to receive his/her social security. We have been married ten years. My husband's social security is a lot more than mine since I fall in that windfall profit. View Answer

7. Questioner: Michael

   Question: My goodness, aren't you convienient. I am 53 years old, unmarried and permanently disabled on SSDI. I recently discovered I have what is being referred to as a Cash Balance Plan, basicly a form of IRA offered my the Hospital I was employed with. Since I was fully vested it is my understanding I am entitled to recieve a benefit from this plan, the value of which is approxamatly $13,000.00. I also have a small 403 (B) valued at roughly $1000.00. 2 part question: 1, How to incure the least Tax penalty, and 2, How if at all would this income affect my SSDI benefits? Incidentally, it also appears I am being offered 4 payment options being Life Only, Life with 120 Monthly Gauranteed Payments, Social Security Level Income Option (SSLIO). Thank you for your time and kind consideration. - M
   View Answer

8. Questioner: Diane

   Question: My husband has chosen to take his Social Security benefits at 62($1500) and isn't going to wait to collect his full benefit at 66($2000). I was a stay at home mom so I will collect on his. If I wait till I am 66 to collect.....will I receive half of the $1500 or $2000 View Answer

9. Questioner: Carol

   Question: Hi Richard, If I am receiving Social Security and sell my home, will that lower the amount of social security that I receive if I do not immediately invest it in a new home? View Answer

10. Questioner: Danielle

    Question: Hi. This may sound like a weird question, but when someone works on a freelance basis their entire life, how is money paid toward their social security? Would they still have access to it when they're older like someone who had a traditional job? Thanks
    View Answer

11. Questioner: Danielle

    Question: This may sound like a weird question, but when someone works on a freelance basis their entire life, how is money paid toward their social security? Would they still have access to it when they're older like someone who had a traditional job? View Answer
    

12. Questioner: Danielle

    Question: But, it is possible as a freelancer to pay into Social Security? Are you saying I would pay more than I normally would? View Answer

13. Questioner: William

    Question: Hello Mr Reyes, I am a retired civil service person and do not have the required 40 credits for social security coverage(have 33 credits now). My wife has her 40 credits and will get a very small amount of SS. I am 57 at this time and she is 58 so we have time to plan.
    Can I collect 50% of her SS?
    Does a spouse have to be deceased to collect this?
    Will my 50% be subject to the windfall (or some such provision)?
    Would it be better if I worked to get my 40 credits?
    I do not know how much the minimum amount of SS I would collect if I were to be fully vested as the SS statement around my birthday says I am not yet eligible. Do you have a guess?
    Do I need 40 credits for Medicare or SS disability if that arose?
    Any advice will be warmly appreciated and thank you for your help and time!! View Answer

14. Questioner: David

    Question: When I retire, my wife says that my income from social security and/or my employer's 401k retirement plan, EITHER, or BOTH, will be taxed by the federal government. Is this true?

    Now, a rumor I have heard. If you are retired, and volunteer 40 hours a week to agencies looking for retirees to do volunteer work, you can deduct from your taxes on your social security and/or your retirement money, what-ever you would have been paid if still working full-time. For example; employed at $10 per hour. Retired, write-off $10 per hour off your taxes on your social security and retirment. Again, is that true?

    If true, I will be doing a lot of volunteer work after I retire! View Answer

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