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When To Start My Social Security Benefit?

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When To Start My Social Security Benefit?

Postby Tringad » Sun Oct 01, 2017 5:11 am

Hello everyone, I am working on my SS Benefit application online and it is asking me when to start the benefits. I am currently 64 and will turn 65 on January 27th. It lets me start now, all the way up to March 2013. If I start it right now, I will receive less since I am still 64 right? Should I start in January or February? I'd like to start in January but my birthday is nearer to the end of the month so I am not sure.






Thank you very much.
Tringad
 
Posts: 50
Joined: Wed Mar 12, 2014 9:14 pm

When To Start My Social Security Benefit?

Postby Adamka » Sun Oct 01, 2017 2:27 pm

Hello everyone, I am working on my SS Benefit application online and it is asking me when to start the benefits. I am currently 64 and will turn 65 on January 27th. It lets me start now, all the way up to March 2013. If I start it right now, I will receive less since I am still 64 right? Should I start in January or February? I'd like to start in January but my birthday is nearer to the end of the month so I am not sure.


Thank you very much.
Adamka
 
Posts: 49
Joined: Fri Feb 07, 2014 7:02 pm

When To Start My Social Security Benefit?

Postby Carling » Sun Oct 01, 2017 11:41 pm

responding again to your second post

anytime you apply prior to your actual retirement age the payment will only be a portion of your full benefit,

you could have applied at age 62
Carling
 
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When To Start My Social Security Benefit?

Postby shoda » Mon Oct 02, 2017 7:04 am

So you were born in January 1948 RIGHT.

Delayed Retirement: If You Were Born Between 1943 And 1954.

Your full retirement age is 66

If you start receiving benefits at age 66 you get 100% of your monthly benefit. If you delay receiving retirement benefits until after your full retirement age, your monthly benefit continues to increase.


You should apply for your medicare at this time in your life for this purpose. http://ssa.gov/retire2/1943.htm

If you decide to delay your retirement, be sure to

Sign up for Medicare at age 65

In some circumstances, medical insurance costs more if you delay applying for it.

If you are in good health and are still working and would like to increase your monthly benefit amount at this time in your life you can choose to wait or just DELAY starting to receive your benefit at your FRA and wait until you turn age 70 and you could possibly increase your monthly benefit amount to more than 2000 a month depending on your income for each tax year.

What year and month do you reach your FRA full retirement age in for this purpose and time in your. http://ssa.gov/

The Full Retirement Age Is Increasing

Full retirement age (also called "normal retirement age") had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.
http://ssa.gov/pubs/ageincrease.htm

Delayed Retirement

http://ssa.gov/retire2/delayret.htm

If you've already reached full retirement age, you can choose to start receiving benefits before the month you apply. However, we cannot pay retroactive benefits for any month before you reached full retirement age or more than 6 months in the past.

Here's An Important Point: If you decide to delay your retirement, be sure to

sign up for just Medicare at age 65.

If you do not sign up, in some circumstances your Medicare coverage may be delayed and cost more.

If you delay benefits past your full retirement age, your year of birth and the number of months you delay determines how much your benefit can increase. If you were born in:

Click below to find out how much your benefit will

Hope that you find the above enclosed information useful. 11/22/2012
shoda
 
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When To Start My Social Security Benefit?

Postby Waleis » Thu Oct 05, 2017 8:04 am

april first 1916
Waleis
 
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When To Start My Social Security Benefit?

Postby Amir » Fri Oct 06, 2017 8:17 am

In the US you can wait till your 70.

Why don't you go to a library or a bookstore and look for books such as

Social Security for Dummies

Social Security Made Easy

(not insults - good books) Read them.

Lots to learn !!!
Amir
 
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Joined: Mon Jan 06, 2014 5:44 pm

When To Start My Social Security Benefit?

Postby Adda » Tue Oct 10, 2017 6:57 am

Every month you wait increases your benefit amount (up to age 70).
Adda
 
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Joined: Sun Jan 12, 2014 1:55 pm


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