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Ask Rusty – Why Didn’t My Friend’s Wife Get All Her SS Immediately?
Dear Rusty: A friend told me about what he believes is a strange thing in the Social Security system. His wife reached her full retirement age (FRA) of 66 several years ago. She delayed filing for Social Security past her FRA and claimed on her 68th birthday in June of that year, exactly 2 years after…
Read MoreSocial Security as a Child
By Russell Gloor Association of Mature American Citizens Obviously, minor children normally aren’t working and contributing to the Social Security program toward their future retirement, but that doesn’t mean Social Security isn’t there to protect them. In real life, there are two main situations where minor children can collect Social Security benefits based upon a parent’s…
Read MoreAsk Rusty – I’m on SS Disability; Should I Switch?
Dear Rusty: Should I take my Social Security now at age 62, or wait till I am 65? I’ve been collecting SS disability due to health issues and was curious if I should wait or claim my regular Social Security retirement benefits now. Signed: Disabled but Wondering Dear Disabled but Wondering: If you are now collecting Social Security…
Read MoreAsk Rusty – Why Won’t Social Security Give me my Benefits?
Dear Rusty: I called the Social Security office, as well as went with my husband when he went to collect his Social Security. Because I work full-time (at about $800/week), they said I could not file for my Social Security. Yet I seem to read articles all the time about people doing so. My husband just…
Read MoreAsk Rusty – What About Benefits from an Ex-spouse?
Dear Rusty: I am almost 57, divorced after a 14-year marriage. My former spouse is 15 years older than I and made significantly more money than me. I am required to retire from my job at age 60 but expect to keep working in some capacity. I have a girlfriend of a similar age to…
Read MoreAsk Rusty – Why Didn’t My Friend’s Wife Get All Her SS Immediately?
Dear Rusty: A friend told me about what he believes is a strange thing in the Social Security system. His wife reached her full retirement age (FRA) of 66 several years ago. She delayed filing for Social Security past her FRA and claimed on her 68th birthday in June of that year, exactly 2 years…
Read MoreAsk Rusty – Is Social Security Really a ‘Good Deal?’
Dear Rusty: You’ve said in the past that most people recoup their SS contributions within five years of starting benefits, thus Social Security “is an exceptionally good deal.” Your calculation is correct but misleading; if it were not, SS would have been insolvent long ago. I will, in fact, get “my” contributions back in about five years,…
Read MoreAsk Rusty – If We Both Collect, Will Our Benefits be Affected?
Dear Rusty: I reached full retirement age back in June, but I have not yet filed to collect Social Security. My husband currently collects SS funds, and he waited until he had reached full retirement age a few years ago. I am considering signing up now to receive my funds, but I am a little…
Read MoreAsk Rusty – Did Obama-Era Social Security Tax Cuts Hurt?
Dear Rusty: I will be retiring early next year but my question to you is: During the Obama administration, payroll taxes that employees pay were cut in half from 6.2% to 3.1%, while the employer’s part stayed the same at 6.2%.This continued for around a year I think. This was an attempt at giving people…
Read MoreAsk Rusty – Consider ‘Wearing Out’ Factor While Deciding Social Security
Dear Rusty: Enjoyed your recent article on claiming SS benefits. I feel, however, any decision making should also include what I call the “wearing out” factor. Yes, financial need, health, and longevity are definite criteria for a decision. The inevitable problem (I just turned 83) is the speed at which many of us descend down the back…
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