Not All Spousal Benefits To Wife Or Husband Are Based On Age

Q: I plan to start Social Security retirement next January, including benefits for our 17-year-old son who is in high school. Can my wife receive Social Security on my record then because our son will? She is in her 50’s and working. A: Because your son is age 17 and not younger, the answer is…
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Benefits To A Grandchild

The Social Security publication, Benefits for Children, mentions that grandchildren can sometimes receive child’s benefits. This is possible but not very common. Here are more details from the Social Security website, www.socialsecurity.gov. More and more parents are finding themselves raising grandchildren. Social Security will pay benefits to grandchildren when the grandparent retires, becomes disabled, or…
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Average SSA Retirement Amount & MyRA

Social Security was never intended to provide your complete retirement income. Financial experts say you need 70-80 percent of your pre-retirement income for a comfortable retirement. Since Social Security replaces only about 40 percent of pre-retirement income for the average worker, having pensions, savings, and investments are important. To illustrate this, the average, individual, Social…
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Changing Your Voluntary Tax Withholding

Q: How do I change the amount of taxes withheld from my Social Security benefit? A: Taxes are not routinely withheld from Social Security benefits but you can request, change or end voluntary Federal tax withholding by completing IRS Form W-4V, Voluntary Withholding Request, and returning it to your local SSA office. Voluntary withholding is…
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Is Social Security Retirement Prorated?

Q: If starting retirement at age 62, is Social Security prorated for the days that I am 62? A: Social Security benefits are not prorated. You are either eligible for the complete month or not at all. For retirement, you must be at least age 62 through the entire month to receive benefits for that month. A…
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