Filing for retirement Social Security

[oldfella1962]

Yes I could google it, but I want the "inside scoop". My situation: I am married and turning 62 shortly. I had to retire earlier than planned for various reasons. As far as my current income, I am a disabled military retiree. My wife has never worked (if this is relevant to my situation).

What documents do I need to bring down to my local SS office? If I call them, odds are they will forget to tell me at least a couple of things, or I will just get an automated recording that speaks faster than I can write things down. I already got a thing in the mail telling me how much I should get based on my employment history depending on various factors, so the SS administration does at least know I exist, so that's one major hurdle I don't have to deal with. Any and all information/helpful tips/horror stories would be appreciated - thanks.

 

[elfiii]

We signed up for ours over the phone but that was during the fake plandemic in '20. All you need is your SS card and a driver's license and you're good to go. They already got a complete dossier on you.

 

[transfixer]

I turned 62 last June, born in 61 I was told I could apply at 62 1/2 ? but I don't plan on applying till I turn 64, which is in another year and a half, I don't have to do anything till I'm ready to apply do I ?

 

[notnksnemor]

Keep in mind when you start drawing, you can only earn a certain amount of income each year before, I think, age 70 or they will deduct from your SS payments.

 

[Milkman]

They can handle the entire transaction by phone if you want to. I would start with a phone call to your local office. They will have lots of questions related to your specific situation. Ex wife (if applicable) etc. etc.
The longer you wait the larger your benefit will be for the rest of your life. Starting your benefits at age 62 vs starting at your full retirement age will be around 30-40% less. Your full retirement age is probably 67.
I assume you have created an online account and looked at your benefit options.

 

[elfiii]

I turned 62 last June, born in 61 I was told I could apply at 62 1/2 ? but I don't plan on applying till I turn 64, which is in another year and a half, I don't have to do anything till I'm ready to apply do I ?

You must apply within 60 days of your first becoming eligible or you will be penalized for the rest of your life when you do sign up.

 

[Milkman]

You must apply within 60 days of your first becoming eligible or you will be penalized for the rest of your life when you do sign up.

Are you thinking of Medicare or SS benefits?

 

[elfiii]

Are you thinking of Medicare or SS benefits?

Medicare but you sign up for both at the same time.

 

[elfiii]

Keep in mind when you start drawing, you can only earn a certain amount of income each year before, I think, age 70 or they will deduct from your SS payments.

67 is the top right now. After 67 you can earn as much as you can without a reduction in your benefit. Of course if it's earned income you're paying Social Security and Medicare taxes on it so you're giving them some of your benefit back.

 

[Milkman]

Are you thinking of Medicare or SS benefits?

Medicare but you sign up for both at the same time.

Not necessarily.
Someone can start SS benefits before being old enough to qualify for Medicare. Regular Medicare eligibility begins at age 65.

 

[elfiii]

Not necessarily.
Someone can start SS benefits before being old enough to qualify for Medicare. Regular Medicare eligibility begins at age 65.

Yes but that is the odd duck who does so. Most people are not aware of the lifetime penalty if you don't sign up for Medicare when you become eligible.

 

[Ruger#3]

I did it online. An online account makes dealing with them much less painful. I also waited until full retirement age. I'm not letting them keep a dime I can get my hands on. I also signed up for Medicare at 65. My military ID expired on my 65th birthday. To access to my other benefits and renew my ID required proof of Medicare enrollment.

 

[oldfella1962]

We signed up for ours over the phone but that was during the fake plandemic in '20. All you need is your SS card and a driver's license and you're good to go. They already got a complete dossier on you.

Awesome! I figured "somebody" working for the SS administration has a dossier, but I wasn't sure if "everybody" in every local SS office could quickly access it. Augusta is my local SS office and while I'm not saying that they can't seem to get good help - but to be honest they don't always get good help.

 

[elfiii]

Awesome! I figured "somebody" working for the SS administration has a dossier, but I wasn't sure if "everybody" in every local SS office could quickly access it. Augusta is my local SS office and while I'm not saying that they can't seem to get good help - but to be honest they don't always get good help.

Yep. IRS reports your W-2/Earned Income numbers and related SS and Medicare taxes to SS and Medicare every year so when you go to sign up they have all the information and can tell you what your benefit will be.

 

[oldfella1962]

They can handle the entire transaction by phone if you want to. I would start with a phone call to your local office. They will have lots of questions related to your specific situation. Ex wife (if applicable) etc. etc.
The longer you wait the larger your benefit will be for the rest of your life. Starting your benefits at age 62 vs starting at your full retirement age will be around 30-40% less. Your full retirement age is probably 67.
I assume you have created an online account and looked at your benefit options.

Yes but as I explained I cannot wait until my full retirement age for various reasons. If I ever did create an online account, I have long forgotten any passwords or whatever. But since I don't want to play "phone menu tag" and I have hearing loss, I can just go down to my local office since they are only 20 minutes away.

 

[Jim Baker]

If you are retiring before your full retirement date have a sit down with SS and get them to explain how much you can earn before the clawback begins.

Also get them to explain to you about the year you begin to take benefits. What you earn the year of your partial retirement will be subject to a clawback.

The year I retired at 62 I worked up until my birthday. The earnings I had before my birthday of the year I turned 62, almost 6 months I had almost $5000 penalty even though the earnings were before I began to draw SS benefits.

It is complicated.

 

[oldfella1962]

Are you thinking of Medicare or SS benefits?

No, being retired military I have Tricare. Now I think that at age 65 this could merge with Medicade/Medicare or whatever (I'm sure it's complicated) but for a couple of years I don't have to deal with that.

 

[oldfella1962]

If you are retiring before your full retirement date have a sit down with SS and get them to explain how much you can earn before the clawback begins.

Also get them to explain to you about the year you begin to take benefits. What you earn the year of your partial retirement will be subject to a clawback.

The year I retired at 62 I worked up until my birthday. The earnings I had before my birthday of the year I turned 62, almost 6 months I had almost $5000 penalty even though the earnings were before I began to draw SS benefits.

It is complicated.

I have no idea what you said, but you sold me on it being complicated!

 

[oldfella1962]

Keep in mind when you start drawing, you can only earn a certain amount of income each year before, I think, age 70 or they will deduct from your SS payments.

Good point! I will add this to my list of questions to ask them. My only income is military retirement and military disability. The disability is not taxed and doesn't even need to be reported as income for tax purposes, but it might be for SS purposes.

 

[oldfella1962]

Yes but that is the odd duck who does so. Most people are not aware of the lifetime penalty if you don't sign up for Medicare when you become eligible.

Wow now this really complicates things since I have Tricare (for life - I think - sort of). I wish I had a Tricare representative and a SS representative in the same room with me so everybody would be on the same sheet of music. I might call Tricare first and tell them my SS/Medicare situation before I head down to the SS office.