Social Security benefits are paid the month after they are due. If you tell us you want your benefits to start in May, you will receive your first benefit check in June.
Key Takeaway. For Social Security income, the youngest age when you can apply is 61 years and nine months old. You would then receive your first Social Security check four months later—the month after your 62nd birthday.
That's because Social Security pays benefits a month behind, so your benefit for, say, June 2022 will arrive in July. Your birthday generally determines your monthly payment schedule: If the birthday is between the first and the 10th day of the month, the benefit payment arrives on the second Wednesday of each month.
Once you have applied, it could take up to three months to receive your first benefit payment. Social Security benefits are paid monthly, starting in the month after the birthday at which you attain full retirement age (which is currently 66 and will gradually rise to 67 over the next several years).
You can start your benefits as early as January when you are 62 for the entire month. If you want your benefits to start in January, you can apply in September. Social Security benefits are paid in the month following the month they are due.
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 six months in the past.
You can begin collecting your Social Security benefits as early as age 62, but you'll get smaller monthly payments for the rest of your life if you do. Even so, claiming benefits early can be a sensible choice for people in certain circumstances.
This is when you can expect your payments to hit each month: If your birth date is on the 1st-10th: Second Wednesday of each month. If your birth date is on the 11th-20th: Third Wednesday of each month. If your birth date is on 21st-31st: Fourth Wednesday of each month.
Social Security: What Matters Most to You? If your birth date is on the 1st of the month through the 10th of the month, your benefits will be paid on the second Wednesday of the month. For January's first payment, this means benefits were paid on Jan. 12, 2022.
If your birth date falls between the 1st and the 10th of the month, you can expect to receive your benefits on the second Wednesday of each month. If your birth date falls between the 11th and the 20th of the month, you can expect to receive your benefits on the third Wednesday of each month.
Reason #1: Retire Early if You Want to Stay Healthier Longer
But not all work is good for you; sometimes it's detrimental to your health. Retiring at 62 from a backbreaking job or one with a disproportionately high level of stress can help you retain, or regain, your good health and keep it longer.
At age 62: $2,364. At age 65: $2,993. At age 66: $3,240. At age 70: $4,194.
For example, the AARP calculator estimates that a person born on Jan. 1, 1960, who has averaged a $50,000 annual income would get a monthly benefit of $1,338 if they file for Social Security at 62, $1,911 at full retirement age (in this case, 67), or $2,370 at 70.
Most claims are done online these days.
You really don't have to apply for benefits in person anymore. Just go to www.ssa.gov and click on the “retirement” box for retirement, spousal or Medicare claims. ... Other experts agree that online is the best way to apply for Social Security.
At 65 to 67, depending on the year of your birth, you are at full retirement age and can get full Social Security retirement benefits tax-free.
Wait 10 days after arriving in the United States before applying for an SSN to allow enough time for your arrival information to update in all government systems.
Cost-of-Living Adjustment (COLA) Information for 2022
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022.
While each person's Social Security benefit will depend on their earnings and amount of years worked, there is a small group who will be receiving an extra $200 or more per month in their benefit check. ... The maximum benefit for someone who'd retired at age 70 in 2021 was $3,895.
You'll get an extra 2/3 of 1% for each month you delay after your birthday month, adding up to 8% for each full year you wait until age 70. The clock starts ticking the month you reach full retirement age. ... Also see Social Security's When to Start Receiving Retirement Benefits.
You can collect Social Security retirement benefits at age 62 and still work. If you earn over a certain amount, however, your benefits will be temporarily reduced until you reach full retirement age.
If instead they wait until age 70, they stand to get the largest possible benefits. Research from the Center for Retirement Research at Boston College shows that Americans mostly tend to claim retirement benefits either around 62 or their full retirement age as defined by Social Security.
You can only enroll in Medicare at age 62 if you meet one of these criteria: You have been on Social Security Disability Insurance (SSDI) for at least two years. You are on SSDI because you suffer from amyotrophic lateral sclerosis, also known as ALS or Lou Gehrig's disease. ... You suffer from end-stage renal disease.
The next scheduled Social Security payment in 2021 is Wednesday, Jan. 12 for those with birth dates between the 1st and 10th of the month. Following payments will be on Jan. 19 for those whose birthdays are between the 11th and the 20th and then on Jan.