starting social security question

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
SS
Posts: 30
Joined: Fri Dec 12, 2008 9:26 am

starting social security question

Post by SS »

I have a question about which month to start social security benefits.

Let's say that I've decided to wait until I'm 70 and that I turn 70 in July.

Assuming I want to receive the maximum payout possible, when should I apply for the benefits to start?

Choices are the month in which I turn 70 (July) OR the month after which I turn 70 (August).

I understand that if I apply for the start date to be in July, then that payment will not be processed until August.

But it is confusing online as to which month I become eligible for the full payment.

Thanks,

SS
The Wizard
Posts: 13356
Joined: Tue Mar 23, 2010 1:45 pm
Location: Reading, MA

Re: starting social security question

Post by The Wizard »

Go to your local SS office in person to make sure they do it right.
But your thinking is right. With your birthday in July, your first maximal payment will be in August...
Attempted new signature...
neilpilot
Posts: 3556
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: starting social security question

Post by neilpilot »

I've heard that some SS personnel automatically include retroactive payments for 6 months prior to your 70th BD, which results in a reduction in the max monthly benefit. This was a training issue that may have been resolved, but it may be something to specifically mention when you do file for benefits.
The Wizard
Posts: 13356
Joined: Tue Mar 23, 2010 1:45 pm
Location: Reading, MA

Re: starting social security question

Post by The Wizard »

neilpilot wrote:I've heard that some SS personnel automatically include retroactive payments for 6 months prior to your 70th BD, which results in a reduction in the max monthly benefit. This was a training issue that may have been resolved, but it may be something to specifically mention when you do file for benefits.
Yet another reason to go in person 2-3 months prior to that birthday...
Attempted new signature...
User avatar
snowshoes
Posts: 348
Joined: Tue Feb 03, 2015 12:33 pm

Re: starting social security question

Post by snowshoes »

neilpilot wrote:I've heard that some SS personnel automatically include retroactive payments for 6 months prior to your 70th BD, which results in a reduction in the max monthly benefit. This was a training issue that may have been resolved, but it may be something to specifically mention when you do file for benefits.
It may also be .gov's preference in training reducing its SS debt obligation from the trenches so to speak.
The Wizard
Posts: 13356
Joined: Tue Mar 23, 2010 1:45 pm
Location: Reading, MA

Re: starting social security question

Post by The Wizard »

snowshoes wrote:
neilpilot wrote:I've heard that some SS personnel automatically include retroactive payments for 6 months prior to your 70th BD, which results in a reduction in the max monthly benefit. This was a training issue that may have been resolved, but it may be something to specifically mention when you do file for benefits.
It may also be .gov's preference in training reducing its SS debt obligation from the trenches so to speak.
It's an option you can claim if needed.
You find you have stage four cancer at age 65.
You can claim SS and get that back payment lump sum for what it matters...
Attempted new signature...
Post Reply