jeannie meadows
Confused about dryer sheets
Hi. I'm Jeannie from New York. I am brand new to this forum and very glad to have found you. Please could someone help me with the following rule that would require me to take soc. sec. at 62 at the lowest available rate:
I am currently on SSI (disability) and am 61. I just found out this past week (Sept. 13, 2013) that when I turn 62 SSI will automatically require me to take social security. (SSI will pay a part, and soc sec will pay the other part of my monthly payment). This means I will have to take it at the lowest level available rate which is $553. I worked for over 10 years before becoming injured and have enough quarters to receive soc sec. At 66 I think my benefit would be at least $774 or a little more. (At 70 it would be 969). I would like to wait at least until 66 to receive my higher benefit of soc. sec. What can I do?
I am very grateful to receive ssi but the above rule means I will be locked in forever at the lowest rate of soc sec. If I ever lost ssi I would have such a low soc sec rate that I could not afford my basic expenses - rent and utilities. I prefer soc sec because this way I could work a little and earn something. SSI does allow one to work but then will deduct $65 plus half of the earnings. On soc sec I could keep my earnings and more resources. If I ever inherited anything I could keep it with no penalties or deductions. I am always short on my budget every month and therefore would like to make some extra amount of money. (I currently receive $816).
To avoid this I think I would have to work for the next four years and as I have been injured I am very limited. I was already quite relieved to think I would not have to work anymore. I would need to make $800, max 900 a month to not lose medicaid.
I have found it very difficult to obtain a job and am afraid to let go of the benefit but don't want to be locked in. Can you help me with any information?
It would be great if I could have some kind of annuity that would pay me the right amount each month. If by a miracle I could find something to sell is there a way to set up the purchase payments as the annutiy? Or is there something else I could do to obtain an annuity? Id like to insure my basic income.
Thank you for your attention.
I am currently on SSI (disability) and am 61. I just found out this past week (Sept. 13, 2013) that when I turn 62 SSI will automatically require me to take social security. (SSI will pay a part, and soc sec will pay the other part of my monthly payment). This means I will have to take it at the lowest level available rate which is $553. I worked for over 10 years before becoming injured and have enough quarters to receive soc sec. At 66 I think my benefit would be at least $774 or a little more. (At 70 it would be 969). I would like to wait at least until 66 to receive my higher benefit of soc. sec. What can I do?
I am very grateful to receive ssi but the above rule means I will be locked in forever at the lowest rate of soc sec. If I ever lost ssi I would have such a low soc sec rate that I could not afford my basic expenses - rent and utilities. I prefer soc sec because this way I could work a little and earn something. SSI does allow one to work but then will deduct $65 plus half of the earnings. On soc sec I could keep my earnings and more resources. If I ever inherited anything I could keep it with no penalties or deductions. I am always short on my budget every month and therefore would like to make some extra amount of money. (I currently receive $816).
To avoid this I think I would have to work for the next four years and as I have been injured I am very limited. I was already quite relieved to think I would not have to work anymore. I would need to make $800, max 900 a month to not lose medicaid.
I have found it very difficult to obtain a job and am afraid to let go of the benefit but don't want to be locked in. Can you help me with any information?
It would be great if I could have some kind of annuity that would pay me the right amount each month. If by a miracle I could find something to sell is there a way to set up the purchase payments as the annutiy? Or is there something else I could do to obtain an annuity? Id like to insure my basic income.
Thank you for your attention.