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Recent Cost of Living questions

OK, I just rated you for that start, now let's plug in some

OK, I just rated you for that start, now let's plug in some approximate numbers. I will turn 66 in December and collect $2,076 in January of 2018. My wife will turn 71 in Sept. so we are about 5 years apart. Unfortunately she started collecting at age 62, so 9 years ago. She collects about $600 at this point. If you would be so kind as to apply these numbers to the formula you described so I can be sure it is done correctly. I am not looking for anything more then an approximation at this point.

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LawTalk

Attorney at Law

Juris Doctor

38,490 satisfied customers
I am repeating a question from earlier. Iam 63 and am

I am repeating a question from earlier. Iam 63 and am collecting diablity of About $850 per month. May I file for Social security early or is that a bad idea. $850isn't going very far.JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.Customer: I am an artist with an erratic income. My wife is reaching 63 as well she earn a fluctuating income from various sources all of which could disappear at any time. Again should I file for SSI early if possible.JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the Retirement Accountant should know?Customer: not right now

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keeperumiami

Sr Financial & Tax Consultant

Bachelor's Degree

11,180 satisfied customers
If I waited until my husband who is on disability and I

if I waited until my husband who is on disability and I turned 65 I would get half his benefit is that true?JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.Customer: well not quite sure what you want but if I waited until he turned 65 and then I got my social security would I get half his benefit he would be collecting disabilityJA: Is there anything else the Retirement Accountant should be aware of?Customer: not to my knowledge

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keeperumiami

Sr Financial & Tax Consultant

Bachelor's Degree

11,180 satisfied customers
I did not receive the 3% increase in jan. what can I do

I did not receive the 3% increase in jan. what can I do about it.JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.Customer: I was receivng $202. per month until oct , I got a $10. increase for working in 2017. Which made my alotment $212. I then got a letter from SS saying the 3% increase would be Jan 25 2017. Ive sent a letter to the Great Lakes Program Service Center in Chicago requesting a review ,the letter was DELIVERED on FEB 1 2017 .I havenot heard a word from them.JA: Is there anything else important you think the Retirement Accountant should know?Customer: I sent the paperwork from SS with all the reasons for the request back to SS.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

5,914 satisfied customers
Complicated - Financially story, but I think I need to start

Complicated - Financially long story, but I think I need to start taking SS (I'm 62 and 3 months) just to get by. Have been out of work for 3 years (went to law school).taking bar in July. Have had trouble finding a job, ugh... If I start taking SS now... benefit is $2,000. If I wait til 66 $2.700. Can I take it now and if I find a job can I stop it an pay it back, and how much time would I get to pay it backJA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the Retirement Accountant should know? I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.Customer: YesJA: What else should I tell the Retirement Accountant?Customer: My ex-spouse (64) is going to start getting ss next month - also a financial situation. I am re-married- she is not. Will my taking early effect her ability to collect on my higher income payments?

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LawTalk

Attorney at Law

Juris Doctor

38,490 satisfied customers
I am 67 and started collecting SS at 66. My husband has

I am 67 and started collecting SS at 66. My husband has received a spousal benefit for the past year. He is now turning 67 and has decided to collect his own retirement benefits. They are much higher than mine. I would like to change my benefits so that I receive 1/2 of his benefit instead of the amount I currently receive. I was advised by a financial planner that this is possible. Today I went to a SS office with my husband. The representative said it was possible. She then had to leave and we were assigned to another representative who said it was not possible. Can you shed some light on thisJA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?Customer: No

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keeperumiami

Sr Financial & Tax Consultant

Bachelor's Degree

11,180 satisfied customers
Why did some people get a raise in their social security and

Why did some people get a raise in their social security and I did not.JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.Customer: I know other people that got a raise in their social security but my husband and I did not.JA: Is there anything else important you think the Retirement Accountant should know?Customer: My name is*****

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keeperumiami

Sr Financial & Tax Consultant

Bachelor's Degree

11,180 satisfied customers
I began ssi benefits at 62 in 2015, at the time I was a

I began ssi benefits at 62 in 2015, at the time I was a subcontractor (driver) and had mileage write offs which keep my AGI below the SSI income level for collecting benefits, in 2016 the company I work for made us employees and report our income on W-2's instead of 1099... I'm doing the same job, with the same income, with the same mileage write off but because I'm now an employee the way we report our income on the IRS 1040 changed my total W-2 income is now my AGI instead of income after expenses on the Schedule C form.. am I going to lose my SSI benefits and am I going to have to pay back benefits received... everything is exactly the same as 2015 so I don't understand why I can't keep my SSI benefits... any help would be appreciated....

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keeperumiami

Sr Financial & Tax Consultant

Bachelor's Degree

11,180 satisfied customers
I may have to default on my credit card bills due to high

I may have to default on my credit card bills due to high cost of living, prescription, etc., if I have a loan with Springleaf and my car is collateral and I defaulto on that loan, can they take my car. I am 68 yrs. oldJA: The Retirement Accountant will know how to help. Is there anything else important you think the Retirement Accountant should know?Customer: I am not late on any payments yet, but my living situation may change and I just cant afford these high interest debts. But I need my car. I don't want to lose it

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

22,454 satisfied customers
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