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What are Social Security Benefits, When Do They Begin & How Do I Begin The Signup Process

The Social Security benefit is one of the widest benefit plans for every family and its members. Its goal is to provide care and look at their members and beneficiaries in time of need. It has reached and touched the lives of many families and members by providing them the assistance they need during the situations that they need help the most.

Contrary to what other people think, Social Security is more than just a retirement plan. Although most of its beneficiaries are retirees and their family members, SSA is also designed to provide income, pensions, savings, and investments – things that a retiree needs to have a comfortable life after working so hard for so many years.

Social Security Benefits and Financial Future

When you worked hard for more than half of your life, you would want to have a comfortable retirement with your families secured and financially stable. The Social Security Administration wants to give you that dream. Apart from this, the SSA also extends the taxes you pay to pay benefits to the retirees, disabled individuals with low income, and survivors of workers who died and the dependents of the beneficiaries. When you reach the retirement age of 61 and 9 months, you will also be able to enjoy the benefits of SSA.

BeneficiariesImage result for Social Security Benefits

  • Disabled
  • The spouse and/or the child of someone who is a member of Social Security
  • The living spouse and children of a Social Security member worker who died
  • The living dependent parent of a Social Security member worker who died

Do I Need SS for Disability?

If you’re disabled but the diagnosis is short-term, it’s best to find out when doing ss benefits begin for you, to see if it’s worth drawing on at all. Sometimes, people jump to signing up for social security benefits too soon where a supplementary insurance would have done the trick. However, if the diagnosis for disability is permanent or long-term, then finding out when to sign up for social security benefits begins for you so you can try and plan to be covered while you go through the process. Yes, the process of approval can be lengthy. It can take months or even years, depending on the circumstances. The next heading will discuss more when social security starts as well as take you through the process of signing on.

Image result for Social Security BenefitsWhen Does Social Security Begin & How do I sign Up?

One of the most important questions to answer after what do I need it for, is when do ss benefits begin? This as well can be simple, if you have simple circumstances which are rarely the case if a person is looking into ss benefits. But, we can give you a look into it so you get an idea that’s easy to understand. Typically, the SS benefits can start at 62 or 65. Unless you were born in 1960 forward it can be 67. People are working longer and longer to be able to retire. So, strategic planning is what’s necessary for successes and sometimes that means planning to have another safety net apart from social security. If you begin receiving benefits from age 62 you’ll have to keep in mind, that you’ll get 75% of the benefit. Why? Because there are an extra 48 months tacked on to the time. If you take those benefits at age 65 you will then reap 93% of the original benefit as there are an additional 12 months tacked on.

Common Questions Asked:

  • What Are Social Security Benefits- Before, signing up for social security benefits you should know what category of life circumstance you fall into. This is sage advice because signing up for social security benefits can be easy or complicated. In fact, it’s more the ladder to find out where you are. So you might want to ask yourself these questions:
  • What Do I Need To Receive My Social Security Benefits? –Make sure you don’t have any other sources of income before you exhaust your benefits at the minimum age.
  • What If I Want My Social Security Benefits At 62?- Make sure you have a social security benefits professional help you to calculate when doing ss benefits begin, and how long it will last for you, should you live the median age of around 73. No one can really predict how long their lifespan will be, but these days, 62 may prove to be too early to collect.
  • SSA and The Seniors- As of today, Social Security has 59 million beneficiaries who receive monthly Social Security benefits. This comes from 167 million workforce that pays Social Security taxes. The unused money directly goes to the Social Security trust funds.
  • Who Is Eligible for SSA Benefits- Depending on age and underlying circumstances, but anyone is eligible to be a member of Social Security. Actually, it offers more benefits to children than any other government programs available today. SSA is more than just a retirement program. It provides a wide array of assistance to its eligible members and beneficiaries. Aside from retirement benefits, there are also other eligible members of SSA.

If You Are Married And Collecting As a Spouse, This Is How It Happens To You:Image result for Social Security Benefits

The same numbers apply in months and age. So if you’re 62 and collect, you’ll have 35% instead of 50% due to the 48 months, see?
The whole concept is to make sure it lasts you as far into your life as possible so needless to say if you can avoid collecting too early then do so. If you collect as a spouse at the required retirement age, you’ll get 45% instead of 50 % due to the same 12 months. So, not much changes whether you’re married or single, just the percent.

How To Apply

So, at this point, you should know if you need to collect SS and why. You should understand everything just pointed out about age and spousal requirement, as well as what you should be getting if you have no more extenuating circumstances. The next step is calculating how many years you’ve worked up to age 61 and 9 months. Also, know approximately when you need to draw funds physically, and not just on paper. Meaning, that timing is everything so make sure you don’t apply more than 4 months in advance.

Gather All The Information You Need

This is really the hardest part in terms of the administration. Hopefully, most people won’t have to order some of the documents that are needed. Here’s a list:

  • SS number
  • Proof of the date and place of birth
  • If you’re married the spousal stats if you’re collecting from their SS
  • If you are an immigrant, then you need your permanent resident card
  • If kids are collecting SS disability insurance then their vital stats are needed
  • Net income from a business or employment information for the last 24 months

Three Ways To ApplyRelated image

You can apply in one of 3 ways. You may apply online, by phone or at the ss office where you live. If you do it in person you must make an appointment by phone first. The last step is to simply wait and check your account online. If the ss office needs more information, if there are any delays or they have any questions, you’ll be notified typically by mail.

Bonus Tips

If you can push it until age 70, your SS benefits will increase by 8%. Every little bit helps. But, if you’re collecting your spouse’s SS benefit it can be delayed or lost if you wait beyond the full retirement age. If your SS benefit is NOT the only source of income you have at the time you’re collecting, then, the IRS will want their share of taxes on it. There’s no better advice than to have a professional that can handle your retirement and your ss benefit. There are a lot of loopholes, and tricks to boosting and maximizing your ss benefit. There are tons of people that are behind in their benefits. Sometimes miss time working because they’re raising kids or have been out of the workforce for one reason or another. But, with a little-concentrated research, you may be able to maximize your ss benefits.