Ask Rusty
Ask Rusty – Please Clear Up Confusion about SS Payments?
Dear Rusty: I am thoroughly confused. What do I need to do to continue receiving automatic Social Security deposits to my bank account, and maintain our Medicare and Supplement health insurance? My wife has received her SS deposit regularly on the 3rd Wednesday each month with automatic bank deposit for many years. I have received my…
Read MoreAsk Rusty – When Should My Wife Claim Social Security?
Dear Rusty: My wife was born in July 1959, and her recent SS benefit estimate is $3,337 at her full retirement age, or $4,397 at age 70. She is presently employed full-time and intends to continue working until she is aged 70. She is wondering when the most financially advantageous time would be to draw her…
Read MoreAsk Rusty – Will My Social Security Increase if I Keep Working After Applying?
Dear Rusty: I am going to be 67 in a few weeks & I plan on working for another year or two. According to Social Security, they count the best 35 years to come up with your benefit. I currently have 30 years, with 2024 and 2025 taxes yet to be filed. If I take…
Read MoreAsk Rusty – When’s Best Time to Claim Social Security?
Dear Rusty: I will be 66 ½ in June and would like to discuss when would be the best time for me to start taking my social security benefits. I am still employed full time and don’t want to be penalized because of that. Please let me know what I need to do to set…
Read MoreAsk Rusty – Will My Medicare Premium Change because I Sold Investment Property?
Dear Rusty: I have questions concerning the deduction of money from my Social Security benefit amount as relates to the sale of investment property. I am 66 years old and have been drawing Social Security since I turned 62. My wife is 56 and is a housewife and has no taxable income. Our income comes…
Read MoreAsk Rusty – Can I Avoid Paying the Medicare Premium?
Dear Rusty: Is there any way I can get out of paying the $185 I am told will be taken out of my Social Security for Medicare Part B when I turn 65? We pay for Medicare all our working lives, and now I have to pay a monthly premium for insurance that only covers…
Read MoreAsk Rusty – Did We Err by Starting Wife’s Benefit Now?
Dear Rusty: I hope we haven’t made a mistake! My wife just applied for her Social Security benefit. She was born in May 1962, and the estimated amount of her benefit is $1280 / month. Her work income last year was $5,616; however, mine was about $65,000. I do not plan on taking my benefit until…
Read MoreAsk Rusty – Can I Get Extra Social Security for my Military Service?
Dear Rusty: Please help. I served from 1964 to 1966 in the US Army. I have been trying to contact Social Security in order to request extra benefits for veterans. The telephone is a recording, and you never get to speak to anyone. The web site at www.ssa.gov is useless to me. I went to…
Read MoreAsk Rusty – Should I Wait until 70 to Claim Social Security?
Dear Rusty: I am a married woman, at my full retirement age, and the primary earner in my marriage. How do I know if I should take my Social Security now or wait till 70? I will lose quite a bit if I take it now. How will it affect my taxes if I take it…
Read MoreAsk Rusty – About Claiming Social Security when I have a Health Savings Account
Dear Rusty: I have reached my full retirement age (66 plus 8 months) and plan to apply for Social Security this month, but I’ve seen articles which say that when I apply, I must also take Medicare Part A. This, even though I am continuing to work and am covered by my employer’s health insurance (a…
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