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Ask Dr. Fiona Chen Your Own Question
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 482
Experience:  Former IRS Revenue Agent
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I am72 yrs. old and have been receiving SS benefits for 10

Customer Question

I am72 yrs. old and have been receiving SS benefits for 10 yrs. I have severe COPD /emphyzema, and was wondering if I could request a lump sum payment on future benefits to help with expenses.
Submitted: 10 months ago.
Category: Social Security
Customer: replied 10 months ago.
My email is***@******.***. My husband is receiving his own SS benefits.
Expert:  Dr. Fiona Chen replied 10 months ago.

Dear Customer,

The only lump sum payment is for beneficiaries in between of full retirement age and age 70 should they chose to delay payment or to file and suspend payments.

There is no lump sum payments for us to take out after age 70. The purpose of social security is to help us to sustain years of retirement. A lump sum payment can cause us not have money to live on later after the money is gone. Therefore, there is no such option for us.

I saw your second posting. It is good that your family at least has two social security income.

Please feel free to follow up.


Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP