Page 2 - Allisons Newsletter, Lakewood Real Estate Edge - June 2019 Issue

social security
YOUR MONEY

time to claim Social THE JOURNEY: unprepared by the death of a
by Janet Kidd Stewart a lot of widows are caught
spouse. Although the survivor’s
hoosing the best
C Security benefits can benefit amount steps up to
the higher of the couples’ two
LAKEWOOD be tricky, mostly because we FACTS TO KNOW ABOUT amounts, there will only be
REAL ESTATE EDGE don’t know precisely how one check, not two, going
long we’ll live to collect.
forward. This can put a serious
Publisher Even if we make an dent in a retirement plan if
Allison Van Wig educated guess on our own SURVIVOR’S it hasn’t been accounted for,
CA DRE #00985700 longevity, however, plenty experts say.
can still go wrong.
This column recently 5. APPLYING ONLINE
steered a 65-year-old retiree BENEFITS IS A NO-GO
to the Social Security Survivors should call
Administration to sort out 1-800-772-1213 to start the
a miscommunication about process.
4435 E Village Rd benefits. The retiree, widowed Meanwhile, be aware
Long Beach, CA 90808
decades ago, attempted to scammers are placing
562-882-1581 claim a survivor benefit only, both sides of the desk, so rate among married women, though their earned income fraudulent phone calls that
Allison@superbroker.com which would cause her work- retirees need to be vigilant according to the Center can trigger withholding of attempt to trick people
www.SuperBroker.com record benefit to grow until she when applying for benefits. for Retirement Research at those benefits. That’s two into giving up their Social
switched to that benefit on or Detailed information on Boston College. Perhaps for years earlier than the earliest Security numbers and other
after reaching full retirement how benefits are supposed that reason, survivor benefits claiming age for retirees, and information.
age. She said a field office to work are found at the were left alone during the I’ve heard from several widows “SSA imposters tell you
worker told her she couldn’t government website, but latest changes to spousal over the years that they would your Social Security number
do that, and her case hung in anyone who is or was married benefits. Unlike most spouses have claimed benefits sooner has been suspended because
limbo while she got it sorted. should understand a few now, survivors can choose if they knew it was an option. of suspicious activity,”
Turns out, she actually basics about the program and to receive a survivor benefit Federal Trade Commission
can do that—even though be prepared to ask questions only and then switch to their 3. THERE’S A officials warned recently.
she remarried and then if the day comes to apply for work-record benefit later (or REMARRIAGEPENALTY To “reactivate” the number,
divorced—and she says she a survivor’s benefit: vice versa) in a strategy to Survivors who remarry they ask for identifying
6425 Busch Blvd.,
Columbus, OH 43229 thinks the problem is now maximize lifetime benefits. before age 60 forfeit the information. To report
877.872.3080 fixed. She expects to begin 1. SURVIVOR BENEFITS This is the strategy the reader widow benefits. But if that these calls to the FTC, call
www.DiscoverPubs.com
collecting the correct benefit ARE DIFFERENT was trying to use. marriage ends in divorce, the 1-800-269-0271 or go to
Sudoku, Scrabble, Crossword shortly. These benefits have survivor benefit is back in the www.oig.ssa.gov/report. n
and articles distributed by Her situation was a admirably helped reduce the 2. THEY CAN BE picture.
Tribune News Services and reminder, however, that poverty rate among widows CLAIMED EARLIER ©2019 Tribune Content
Brandpoint where noted. Survivors can claim 4. GOOD NEWS/ Agency, LLC Distributed
© Copyright 2019 by misunderstandings and over the last generation, but
Discover Publications, Inc. mistakes do happen with this widows’ poverty rates are still reduced benefits at age 60— BAD NEWS by Tribune Content
All rights reserved. complex federal program, on substantially higher than the or 50 if they are disabled— Despite these two “perks,” Agency, LLC
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