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Asked by a 76 year old man from NC on 8/12/2019
Michelle Dash
Michelle Dash, Financial Advisor says
Social Security benefits are an average of your 35 highest earning years that are adjusted for inflation. If you log in to Social Securities website you can see a history of your annual income income. If your spouses' income is higher than some of their previous earning years then you should see your benefit slightly increase beyond the increase ... (Read More)
Asked by a 69 year old man from MI on 8/4/2019
Michelle Dash
Michelle Dash, Financial Advisor says
If you are 62 or older, which you are, you may be eligible to receive benefits in the month you apply. Prior to turning 62, you can apply no more than 4 months in advance. Typically, it is a good idea to apply 1-2 months in advance so you have time to ensure everything was processed correctly. (Read More)
Asked by a 45 year old woman from PA on 8/7/2019
Michelle Dash
Michelle Dash, Financial Advisor says
At 67, you are eligible to receive your full social security without being subject to additional earnings limits. However, if you choose to wait until 70, your benefit will increase by approximately 8% per year. Don't wait past 70, it stops increasing! (Read More)
Asked by someone from VA on 8/6/2019
Michelle Dash
Michelle Dash, Financial Advisor says
If you were born in 1955 or before, your full retirement is 66 and 2 months. If you were born between 1956 and 1960, your full retirement age could be closer to 67. Benefits are pro-rated by month, so if you take your benefit early it will only be reduced by a fractional amount. (Read More)
Asked by someone from SC on 8/4/2019
Michelle Dash
Michelle Dash, Financial Advisor says
Unfortunately, age is not the only requirement for determination. Here is a link to all of the requirements for SSI: https://www.ssa.gov/ssi/text-eligibility-ussi.htm (Read More)
Asked by someone from MA on 7/30/2019
Michelle Dash
Michelle Dash, Financial Advisor says
If your after-tax contributions remain in your employer plan they will be part of the RMD calculation. If you are no longer working at your employer, you are able to roll these funds directly into a ROTH IRA...in this case they will no longer be part of the RMD calculation. While your initial contribution will roll over tax free, any gains on the ... (Read More)

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