Ask Rusty
Ask Rusty – About Investing Social Security Money in the Stock Market
Dear Rusty: For most folks collecting Social Security, you get back what you put in within 3-5 years, so for those that scream – “SS is not an entitlement, it is my money”- that is not entirely accurate beyond 3-5 years. For me personally 4.4 years is the number. But had I been able to invest…
Read MoreAsk Rusty — I Use only VA; Can I Get Back Medicare Taxes Paid?
Dear Rusty: I’m 72 years old with 20 years of military service. I am retired collecting Social Security, my military pension, and State retirement benefits. According to my SSA statement, over my working lifetime I paid $14,302 into Medicare, but I never used that medical plan. I only bring in $33,000 in annual income. Can…
Read MoreHave I Saved Social Security Money by Claiming at 62?
Dear Rusty: I had to start collecting Social Security at 62, and I am 75 now. I believe that in the last 13 years I have saved Social Security money, so I do not know why I cannot draw my full benefits now. If I had started drawing at 65 at $1,200 per month, then…
Read MoreCan Wife Claim Now and Get His Half Later?
Dear Rusty: My wife will reach her full Social Security benefit at 66.5 years of age which is just under 2 years away for her now. If she were to begin to get her monthly check now (i.e. early), would that prevent her from being eligible for the spousal benefit to receive half of what…
Read MoreAsk Rusty – Working Septuagenarian Asks About Disability Benefits
Dear Rusty: I retired at my full retirement age, am now 79 and will be 80 in December. I have been working consistently since. I get a meager Social Security benefit, only about $800 due to my federal retirement offset. Most jobs I have held since filing and collecting SS have involved very labor-intensive work,…
Read MoreAsk Rusty – I was Self-Employed and Don’t Have Enough Credits for Social Security
Dear Rusty: For a thirty-year period, I was making a living as an independent contractor and freelancer. I was working on behalf of myself. Thus, I was only paying state and federal taxes when applied. Due to changes in the employment landscape, I wish to apply for benefits at age sixty-four, as receiving said SS…
Read MoreAsk Rusty – I’m Returning To Work; What Should I Do About Social Security?
Dear Rusty: I started collecting Social Security at age 62 earlier this year. I had an opportunity to partner in a new business this year that will allow me to earn about $200,000 in 2024. Because this is significantly above the allowed earnings when collecting early benefits, I need advice on how I handle this…
Read MoreAsk Rusty – My Birthday Is On The First Of The Month; When Should I Claim Social Security?
Dear Rusty: I will be 62 on November first and I have chosen to take my benefits early. I know that my benefit will be less than it would be if I waited and that does not concern me, but I don’t want to be without income for a long period of time. I know…
Read MoreAsk Rusty – Can My Wife Claim Her Benefit Now, And Switch To A Spouse Benefit From Me Later?
Dear Rusty: Can my wife claim her benefits now (at 63, and we know about the reduction for claiming early) and then, when I retire at 66 years and 10 months of age almost 3 years from now, can she switch over to spousal benefits based on my benefit amount? She worked at a higher…
Read MoreAsk Rusty – How Will My Wife’s Social Security Be Affected By Her Teacher’s Pension?
Dear Rusty: My wife, born in 1960, was a Texas school teacher for about 10 years and receives a $1,000 per month pension from that work. She didn’t pay into Social Security while teaching, but she paid into it for about 23 years while working elsewhere. I paid into Social Security my entire life, the…
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