K1 visa : Over 55 Petitioner and Beneficiary

[Cheschirecat 176]

Hello 

 

I am the USC 57 this year and the beneficiary will be 60 this year. I am an RN and he is a carpenter.  I am not wealthy- just middle class . 

He is not wealthy residing in Barbados ( home country Guyana) due to our age I'm a little concerned. For him to get SS he will have to work 10 years and then will only receive the minimum.Are there any folks out there like us who could share your financial plan? 

I worry about our retirement future. I'm not sure how much he will get from Barbados or how 

their system works. He's lived there for 34 years. 

 

Thanks 

Cheschirecat 

 

 

 

 

 

Edited March 24, 2018 by Cheschirecat

[JFH 12,189]

*~*~*moved from "K-1 fiancé process and procedures" to "tax and finances" as the question is not a procedural one or visa-specific*~*~*

 

This is a very good question. I've moved it to "tax and finance" where the experts on such matters can help you. 

[kris&me 572]

Currently, the full benefit age is 66 years and 2 months for people born in 1955, and it will gradually rise to 67 for those born in 1960 or later. Early retirement benefits will continue to be available at age 62, but they will be reduced more.

 

he was born in 1958 as he will be 60 this year so he has 6 years of work before full retirment as t he calculation for 1958 is 6 years and 8 months according to charts

 

To be eligible for Social Security retirement benefits, a worker born after 1928 must have accumulated at least 40 quarters of work in "covered employment". A "quarter of coverage" generally means the three-month calendar quarter. In addition, you must earn at least $1,260 in a quarter (in 2016) for it to count.Mar 16, 2016

 

so if he comes this year and can begin work soon ,  he can accomplish the 40 quarters 

also there is no forced retirement for his type of job and is allowed to work longer

you are worried for nothing

 

all the above info comes directly from SS webpage 

[payxibka 10,044]

8 minutes ago, kris&me said:

Currently, the full benefit age is 66 years and 2 months for people born in 1955, and it will gradually rise to 67 for those born in 1960 or later. Early retirement benefits will continue to be available at age 62, but they will be reduced more.

 

he was born in 1958 as he will be 60 this year so he has 6 years of work before full retirment as t he calculation for 1958 is 6 years and 8 months according to charts

 

To be eligible for Social Security retirement benefits, a worker born after 1928 must have accumulated at least 40 quarters of work in "covered employment". A "quarter of coverage" generally means the three-month calendar quarter. In addition, you must earn at least $1,260 in a quarter (in 2016) for it to count.Mar 16, 2016

 

so if he comes this year and can begin work soon ,  he can accomplish the 40 quarters 

also there is no forced retirement for his type of job and is allowed to work longer

you are worried for nothing

 

all the above info comes directly from SS webpage 

By the time he reaches full retirement age he will have only accomplished 24 or so quarters

[Cheschirecat 176]

I’m 57 and my full retirement age is 70. Is anyone else our age and has a scenario and/or facts? 

[CEE53147 559]

Have you considered that you may be better off living and retiring in Barbados?  More US citizens are finding ti to be a good option to reitre elsewhere.

[Cheschirecat 176]

6 hours ago, CEE53147 said:

Have you considered that you may be better off living and retiring in Barbados?  More US citizens are finding ti to be a good option to reitre elsewhere.

Barbados is beautiful, but the cost of living there is not. 

[CEE53147 559]

Look at the cost of health care.  It may outweigh everything else.

[Cheschirecat 176]

45 minutes ago, CEE53147 said:

Look at the cost of health care.  It may outweigh everything else.

Well, what about poor healthcare?  Some countries don’t have adequate healthcare. 

[Gorkhali 213]

i strongly disagree. I don't know much about EU, UK, CA, US about health care but I can certainly vouch for multiple Asian countries.  I saw how expensive it was when my mother in law was admitted to the hospital. She is a US citizen and a retired nurse and has a good health care. But the way she was treated was unacceptable. The nurse taking care of her was overworked and was negligent. The doctor treating her at the hospital had no clue '( my mother in law had the same physician for last 20 years). The doctor at the hospital had no clue about her issues and other trouble and cut down other medicine of her's even though her primary physician sent the files. 

 

It took a week to get one order of medicine from her primary physician restored back. We were constantly after them trying to get things done right.

 

For the amount you pay in States if you fly to Asian country; they will treat you as a king and give you the royal treatment. 

Edited March 25, 2018 by Gorkhali

[D.Ba 85]

Small addition: you don’t have to work actual quarters anymore. You collect 1 point per around 1,500 USD earned and can only collect 4 points per year. But it could all be in January. So you could do it with part-time work in a few months.

[Jeanne Adil 1,651]

A married couple can only collect on one SS claim so they collect on hers

My mom and dad collected on daddy's as he paid more into SS

my grandparents collected on granddad's though they both made the same money

if the USC passes away and she is married and is receiving SS benefits ,  he is (if married to her ) eligible for spousal benefits

even a divorced person (married for 9 or more years) is eliglble for benefits (about half) if the USC is getting SS benefits at time of his death

I went thru the process of helping my parents and grandparents make their claims 

 

the SS webpage gives you a site to figure out what your possible claim would be 

Edited March 25, 2018 by adil-rafa

[MeAlone 158]

the new immigrant will be soon 60, it's not easy to adapt in the new country, it's not easy to find a job (maybe you think about opening a small business for him in carpentry), not easy to work and the health issues starting, health insurance for his age is expensive and until becoming a citizen, he doesn't qualify for some benefits. Not easy at all. If he has a good job or business in his country, maybe you could live here. What I know some immigrants bring their parents at this age and complaining how expensive is the medical insurance for them, many prefer leave their parents in their countries as medical is more easy and cheaper for them there

[MeAlone 158]

Yes, try to do his citizenship as soon as possible after he lives here, he can work and he can get his pension on your behalf if your pension is more than his, if he is a working man and in a good health (try to keep him healthy until he gets established here), you will be ok, check social security website for how it works

[Neonred 3,461]

34 minutes ago, adil-rafa said:

A married couple can only collect on one SS claim so they collect on hers

 

Wrong.  If they both worked and contributed then they are both able to collect.