For those of you who are getting closer to the age of retirement, things could be getting a lot clearer on when it will be time to opt into receiving your benefits from Social Security. What may be unclear to you is figuring out the application process and when the best time to apply should be.
Here are some things to consider when you sign up for Social Security benefits. You will learn all about the required documents and information that is needed to complete the application process. Along with this, you will learn when the best time is to sign up for Social Security benefits.
There Are A Variety of Ways to Sign Up for Social Security Benefits
Here are the three common ways to sign up for Social Security benefits. There is an online application process that you can utilize to start the application process for your benefits. This process is done through the Social Security Administration. When you have all of the necessary documents and important information with you, it should not take no longer than 30 minutes to complete the entire application.
Another option for applying would be to call the Social Security office and apply over the phone. An advantage that comes with this method is that you now have the opportunity to have someone assist you while you sign up for Social Security benefits. This will ensure that you make no mistakes and that you submit all of the necessary information as needed. The last method of applying is to simply visit the Social Security office in person. This affords you the same assistance you would have when applying over the phone.
You have the freedom of choosing the best option that works for you. When you have submitted all of the required documents and important information. Your application will then move to the next step of being reviewed and processed for acceptance. When you provide all of the necessary information, your application can be thoroughly reviewed to see if you are eligible to receive Social Security benefits of a higher amount based on the records of your spouse. Other members of your family may also be eligible to receive Social Security benefits as well.
When Is the Right Time to Sign Up for Social Security Benefits?
You must have reached the age of 61 years and nine months to start the application process for your benefits. Once your application is complete, you will begin to receive your benefits at the age of 62. Upon becoming 62 years of age, you will have the ability to begin the application process for benefits in that month. The minimum age requirement to start receiving benefits is 62.
There is no need to sign up for Social Security benefits early. If you know of some challenges that may arise when you apply concerning documents and other information, applying early may be the best choice for you. Applying for your benefits around four months before you would like to begin receiving benefits, is recommended by the Social Security Administration.
You will not begin to receive your benefits immediately after turning 62. You can also wait to apply for your benefits if you are not in need of them right away. By doing this, you open up the opportunity for you to be able to receive a higher monthly payment as time passes.
Apply for Medicare 3 months before your 65th birthday. Your earned Social Security credits make you eligible to receive Medicare benefits. If you wait to apply for Medicare, you may have to pay higher premiums.
What Are the Required Documents and Information Needed?
When applying for Social Security, verifying the history of your work and your identity will be necessary. Some documents you will need include:
-Your Social Security number
-Place of marriage
-Place and date of birth
-Provide your unmarried children’s names and any disabled children that you may have under the age of 22
-The Social Security number of your spouse, along with a date of birth
-A record of your earnings
-Account information from your bank when requesting direct deposit of benefits
-Last year’s W-2 form or tax return of self-employment
When you go through the application process over the phone or via the online process. Instructions on what documents and other information will be needed from you. The list provided above is only an example of the things you may need for verification purposes.