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Financial Planning - Financial planning in general. (Moderated)
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Posted by Robert11 on September 1, 2007, 8:40 pm
Hello:
I tried, but couldn't find a group for general S.S.
questions.
Is there one ?
I imagine, though, that you folks know about these things, so will take the
liberty of posting here.
A very basic question, please:
I'm retired, in my 70's and receive S.S. benefits and Medicare.
My wife will be turning 65 shortly.
Has never worked; always a housewife.
Will she be eligible for "any" basic S.S. benefits (no disability or
anything special) ?
Amount, approx. ?
Thanks,
B.
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Posted by Ron Peterson on September 2, 2007, 12:11 am
> I tried, but couldn't find a group for general S.S.
> questions.
> Is there one ?
There is a government website http://www.ssa.gov/ that can answer most
of your questions.
> I'm retired, in my 70's and receive S.S. benefits and Medicare.
> My wife will be turning 65 shortly.
> Has never worked; always a housewife.
> Will she be eligible for "any" basic S.S. benefits (no disability or
> anything special) ?
She will be eligible for 50% of your benefit if she waits until full
retirement age (about 66).
--
Ron
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Posted by Mark Freeland on September 2, 2007, 1:13 am
> There is a government website http://www.ssa.gov/ that can answer most
> of your questions.
On that site, see http://www.ssa.gov/OACT/quickcalc/spouse.html for an
explanation of spousal benefits, including a calculator.
>> I'm retired, in my 70's and receive S.S. benefits and Medicare.
>>
>> My wife will be turning 65 shortly.
>> Has never worked; always a housewife.
> She will be eligible for 50% of your benefit if she waits until full
> retirement age (about 66).
Clarification: "your benefit" means "your full benefit", i.e. the amount OP
would receive if OP retired at "full retirement age", and not what the OP is
actually receiving. It doesn't matter whether the OP is receiving more in
benefits (for late retirement), or less (for early retirement).
This may seem obvious, but it is something I didn't get right for a long
time.
Mark Freeland
BnetOnewsX@sbcglobal.net
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Posted by rpmaci@gmail.com on September 2, 2007, 6:44 am
> Hello:
>
> >
> I'm retired, in my 70's and receive S.S. benefits and Medicare.
>
> My wife will be turning 65 shortly.
> Has never worked; always a housewife.
>
> Will she be eligible for "any" basic S.S. benefits (no disability or
> anything special) ?
> Amount, approx. ?
>
> Thanks,
> B.
Your wife will be eligible to receive 50% of the amount of benefit you
are receiving.If she survies you she would then be eligible to recive
100% of your benifit.
Have her call or visit the local S.S Office before she turns 65 to
complete her application
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Posted by bo peep on September 2, 2007, 4:27 pm
> Your wife will be eligible to receive 50% of the amount of benefit you
> are receiving.
That is incorrect - she would not receive 50% unless she waits for
another year. If she starts at age 65, as the OP indicated she plans
to do, she will receive less than 50%. Her full retirement age is 66
years, not 65.
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