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Asked by someone from TX on 7/25/2014
Henry Hebeler
Henry Hebeler,  says
The Social Security is based on the highest 40 years of wages where each past year is increased by a wage adjusted CPI to bring those old years up to modern earning values in today's dollar values. You were told wrong. Your annual report from the SSA gives you the correct answers. (Read More)
Asked by a 62 year old man from TX on 7/29/2014
Henry Hebeler
Henry Hebeler,  says
No. When you are your full-retirement-age (about 66), you can get 1/2 of your spouse's full-retirement-age benefit. If you file for a spousal benefit now, you will get less than 40% of that benefit. That amount will be reduced by $1 for every $2 you earn if you are still working. (Read More)
Asked by someone from OH on 7/30/2014
Henry Hebeler
Henry Hebeler,  says
You can get complete report of the Social Security taxes you paid from your first day of work until the end of last year on www.ssa.gov. Those who get a railroad pension get less Social Security. (Read More)
Asked by a 72 year old from MT on 7/21/2014
Steve Chen
Steve Chen,  says
Your home goes to your heirs who then have the option of: 1) Selling your home and any excess proceeds after paying off the reverse mortgage go to your heirs. 2) Keeping your home by paying off the reverse mortgage and keeping your home - either by refinancing into a traditional forward mortgage OR by paying cash. (note - if the home is ... (Read More)
Asked by someone from CA on 7/29/2014
Steve Chen
Steve Chen,  says
It is possible to refinance a reverse mortgage but it depends on the value of your house, how old you are and how much you owe on your first reverse mortgage. You can run some calculations here and reach out to a lender as well: https://www.newretirement.com/Services/Reverse_Mortgage_Calculator.aspx (Read More)
Asked by someone from MO on 7/21/2014
Steve Chen
Steve Chen,  says
Hi - we have some resources with benefits for lower income folks in this part of our site: http://www.newretirement.com/Services/Low_Income_Benefits.aspx Hope this is helpful. (Read More)

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