Q. I’ve been amassing Social Security incapacity now for greater than a decade. I perceive that my advantages would switch over to Social Security retirement advantages at retirement age. Nevertheless, I don’t qualify for retirement advantages as a result of I wasn’t capable of work due to my incapacity. Will I lose it after I hit retirement age? I might be 64 this yr and my husband might be 80.
A. It’s a terrific query.
However don’t fear. Whereas your advantages will change, you received’t lose them.
If you don’t qualify for a profit primarily based in your earnings historical past, you’ll qualify for a spousal profit primarily based in your husband’s earnings, mentioned Jody D’Agostini, a licensed monetary planner with Equitable Advisors/The Falcon Monetary Group in Morristown.
“The quantity that you’ll acquire depends upon when your husband claimed, and once you declare. You’ll obtain half of that quantity,” she mentioned. “The utmost quantity you can obtain happens in case your husband waited to gather his profit till his full retirement age.”
In case your husband predeceases you, you’ll acquire the complete quantity that he was amassing at the moment, D’Agostini mentioned.
E mail your inquiries to [email protected].
Karin Worth Mueller writes the Bamboozled column for NJ Advance Media and is the founding father of NJMoneyHelp.com. Observe NJMoneyHelp on Twitter @NJMoneyHelp. Discover NJMoneyHelp on Fb. Join NJMoneyHelp.com’s weekly e-newsletter.