Go to www.ssa.gov and select “Retirement.” The retirement page will provide you with important information you need to know about the application requirements. Click on “Apply Online For Retirement Benefits.” You will be asked to agree to a “Benefits Application Terms of Service.”
Timing your first benefit payment
Your first check won't arrive until the month after the one you pick in your application. You can apply any time up to four months before the month you pick. For example, you want your first check in April.
The easiest and most convenient way to apply for retirement benefits is by using our online application. You will need to create or log in to your personal my Social Security account.
You can receive Social Security benefits based on your earnings record if you are age 62 or older, or a person with a disability or blindness and have enough work credits. Family members who qualify for benefits on your work record do not need work credits.
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
If your spouse dies, do you get both Social Security benefits? You cannot claim your deceased spouse's benefits in addition to your own retirement benefits. Social Security only will pay one—survivor or retirement. If you qualify for both survivor and retirement benefits, you will receive whichever amount is higher.
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
You may request that your benefit begin in August with the first payment in September. By requesting that your benefit begin in your birthday month, you will receive the maximum possible monthly payment for the rest of your life.
You must pay taxes on up to 85% of your Social Security benefits if you file a: Federal tax return as an "individual" and your "combined income" exceeds $25,000. Joint return, and you and your spouse have "combined income" of more than $32,000.
□ Applying for your benefits
Once you have decided when you want to start receiving your monthly Social Security benefit, you can apply up to four months before the date you want your benefits to start.
You can schedule, reschedule, or cancel an appointment by calling us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday between 8:00 a.m. - 7:00 p.m. local time, or contacting your local Social Security office.
The Social Security 5-year rule refers specifically to disability benefits. It requires that you must have worked five out of the last ten years immediately before your disability onset to qualify for Social Security Disability Insurance (SSDI).
The $1,000 per month rule is designed to help you estimate the amount of savings required to generate a steady monthly income during retirement. According to this rule, for every $240,000 you save, you can withdraw $1,000 per month if you stick to a 5% annual withdrawal rate.
Spouses and ex-spouses
Payments start at 71.5% of your spouse's benefit and increase the longer you wait to apply. For example, you might get: Over 75% at age 61.
Usually, you can't get surviving spouse's benefits if you remarry before age 60 (or age 50 if you have a disability). But remarriage after age 60 (or age 50 if you have a disability) won't prevent you from getting benefit payments based on your former spouse's work.
Exactly how much in earnings do you need to get a $3,000 benefit? Well, you just need to have averaged about 70% of the taxable maximum. In our example case, that means that your earnings in 1983 were about $22,000 and increased every year to where they ended at about $100,000 at age 62.
Each survivor benefit can be up to 100% of your benefit. The amount may be reduced if the women start benefits before their own full retirement age, but they don't have to share — the amount isn't reduced because you've had more than one spouse.