October 30, 2012

October 30, 2012
Top 5 Social Security Questions


Welcome to another day in my life. Today is Tuesday and I hope you are having a safe and great week so far. It is another busy week for Dab the AIDS Bear and me.

Sooner or later, most people end up having to depend on Social Security. For people living with HIV and AIDS, some end up on disability and depending on Social Security benefits to stay alive. Because of this, I get a ton of questions about Social Security. Today, I will blog about the top 5 questions I have received about Social Security.

I retired and took early Social Security benefits at age 62. Now that I've reached my full retirement age, 66, will I begin to receive my full benefit amount?

Uh oh do you know the answer to this one? The short answer: no. That's why it's so important to take your time deciding when to claim your benefits.

If I retire at 62 or 64 and begin benefits, will I get an increase when I get to 66?

The short answer is still no. Remember it can pay to wait!

I was married to my former husband for 10 years. When I turn 62, can I collect an ex-spouse benefit on his Social Security record and then, when I turn 66, switch to my own Social Security and get my full benefits?

The short answer to this one is no as well. This option only exists for those who wait to claim until their full retirement age 66 for most of you and it's like unlocking a door that opens several strategies.

What is the maximum full retirement benefit that someone can receive?

It might be larger than you think! That said, Social Security was never intended to replace 100 percent of your preretirement income.

Do I have to pay taxes on my Social Security income?

The answer to this question, like many questions about Social Security, is, "It depends on your situation." If you're income is above a certain amount, then you will have to pay taxes.

Hope this blog help answer some of your questions. You can also check out the Social Security website at: http://socialsecurity.gov/

Hope you have a beary safe and great Tuesday!

Until we meet again; here's wishing you health, hope, happiness and just enough.

big bear hug,



Daddy Dab