Social Security Advice & Experiences

[Mojo-NC]

Originally Posted by bubba800

You can set up your account anytime. My wife and I did it at 63 so it goes smooth when we take it at 66 and 8 months.

I'm in a similar boat. I retired at the end of March of this year. I have an account set up, but have not completed any of the paperwork to actually begin collecting SS payments. I don't plan to start drawing $$$ until I reach full retirement age in a couple more years. So if I understand correctly, it's when you start drawing $$$ that is important, not when the paperwork is submitted. Is that correct?

Originally Posted by Baseline

Go to the SS website and set up an account. You should apply 3 months before you want to receive benefits. After you apply you will receive a call from a benefits coordinator explaining the process and other benefit options you have.

Same here. Signed up online. A few weeks later the SS rep that called was helpful and wanted to make sure of the date that I wanted to start receiving the checks. Started getting checks (direct deposit) the day he said they would start.

Pretty easy and efficient.

[sportfish1]

I did mine as soon as I could ahead of retirement. As far as the first check goes, it can vary. My birthday is June 6 but I won't start earning the benefit until July 1st and my first check should be in August.
I did mine online as well. It's very easy.

[bubba800]

Originally Posted by Mojo-NC

I'm in a similar boat. I retired at the end of March of this year. I have an account set up, but have not completed any of the paperwork to actually begin collecting SS payments. I don't plan to start drawing $$$ until I reach full retirement age in a couple more years. So if I understand correctly, it's when you start drawing $$$ that is important, not when the paperwork is submitted. Is that correct?

Yes, sir.

[drlee]

Absolute piece of cake! Set up an account. You get a complete history of your SS contributions. Kind of fun to see! I cannot recall how long it took to get my first check. Not long or annoying. They do direct deposit into your checking account. In the future, when you do medicare, they will auto deduct any premiums from you SS check. You can also input how much fed tax you want to take out of your SS $$ if you so desire. Thanks to our hero, R. Reagan, it is now taxed. which is BS. At 65, you will auto get Part A Medicare. Be sure to sign up for "Part B." or you will pay a penalty fee for late signup. Also, Part D drug coverage is likely a good option Again, they will deduct these premiums from your SS check. I also purchased a Medicare Advantage Plan. It is through United Health Care/ AARP. It saves a lot of $$ on co pays, etc. My premium is $329 Annually. Yes, annually. I am not a salesman for UHC. My circumstance was the deciding factor. Lots of good options out there to supplement Medicare. Overall, I am so impressed with SS and Medicare! They are super easy to deal with; good value; I knew well ahead what my SS benefit would be, along with my Medicare costs. To the dollar, they were right on. Don't listen to the critics of "big government" . These programs are clear evidence of how successful BG can be, at least in limited circumstances. You will be a happy camper!

[38bill]

Your going to wait at least a month before you get a check because the checks are actually mailed out a month after the benefit is earned. The payment date is set by SS (mine is the 3rd Wed of the month) so that can add almost another month depending what day your payment is issued.

[hookem-1]

As others have said, signing up on line is easy. You have to wait a month after you retire to get the first check. I retired 5 years ago May 1st. Got my first check the 4th Wednesday of July. SS it paid out every Wednesday depending on when your birthday is. Mine is the 27th so the 4th Wednesday of the month

[REW]

Btye,

I did mine on line - 6 months before I was to receive my first check.
Then, on the date - 6 months later, the money was in my checking account.

For my wife, when she got to SS age, she received a phone call from the SS office.
She spent 5 minutes on the phone with the person on the phone and 6 months later on her due date for her first payment, the money was in her checking account.

Essentially it is a 10 minute on line filing to be done a few months before you are first scheduled to receive social security and the money will be in your bank account on the month in question.

Best wishes

[3M TA3]

Know that you don't have to quit working to draw SS however if you haven't reached FRA then you could suffer the 1 for 2 situation. If you do, the formula changes slightly based on how much you earned and for how long. I started collecting at age 62 but had to pay back a year of benefits. The new formula was calculated as though I started collecting at 63. No penalties on earned income once you hit FRA.

[3M TA3]

PS If you're still working at age 65 and have insurance through employer you won't get penalized for not taking part B. Only have so many days to sign up once you no longer work. I may have missed a detail there. As others have said, check with SS person.