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when to draw ss when spouse is drawing ssi
I need to speak with someone who can guide us to maximize our ss income. My wife is on SSI drawing the minimum (about 650). We are both over 65 but my ss earnings are very minimal because of religious work and a serious disability for years. My wife has very few quarters so she can not draw on her own. Together we would draw about $850-900 a month. Now she gets her medicare paid by ssi Texas and her prescriptions at a small co-pay. I pay for my own medicare but get prescription assistance since my meds exceed $8000 annually. I pay for a suppliment for both of us at about $260 month. I make about $8000 annually. We need to know if there is any way to maximize our legal benefits to upgrade our situation. Dennis
	asked by Dennis, 2/12/2008
Categories: Delaying Retirement, Health Insurance, Medicare, Prescription Drug Coverage, Work and Retirement, Medicaid, Supplemental Medical Insurance

ANSWERS:
	Answered by: Editorial, 02/19/08 Overall Rating: Be the first to rate it.
Mmmm... This is a very complex question. One resource I can recommend is the Benefits Checkup calculator which was put together by the National Council on Aging. You can find it here: http://www.benefitscheckup.org/ Other ways to maximize your income include: -- Delaying the start of your Social Security benefits. Delaying your benefits for a few years can significantly increase your monthly income. Learn more here: http://www.newretirement.com/Services/Social-Security-Benefits.aspx -- If you own your home, you might also want to look at using your home equity. Many seniors use a Reverse Mortgage to boost their retirement income. Although you will want to be careful that the additional income from a Reverse Mortgage does not impact eligibility for Medicaid. (A Reverse Mortgage does not impact Social Security or Medicare.) Learn more about Reverse Mortgages here: http://www.newretirement.com/Services/Reverse_Mortgage.aspx Login to rate this answer:
	Answered by: Editorial, 02/19/08 Overall Rating: Be the first to rate it.
I also wanted to mention that there are many many benefits for seniors who choose to work part time -- beyond the additional income. It is not always possible for seniors to work... but you can find more information on retirement jobs here: http://www.newretirement.com/Services/Working_In_Retirement.aspx Login to rate this answer: