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Your "Medicare Part B premium was greater than your monthly retirement benefit"??? I thought the Part B premium is set at around $115 per month unless your income is over 80K (170K for couples). Can you elaborate?
Most of my working career was in a job which did not fall under Social Security. I barely qualified for Social Security based on part-time jobs (moonlighting jobs) and summer jobs while in college. Therefore, my Social Security retirement benefit is extremely small - it's not something I even took into account in retirement planning. And that small amount was reduced even further by my falling under the Windfall Elimination Provision and even further by my decision to take it at age 62. (This is not a complaint; the benefit should be small).
Summary of the long story above: I receive a very small Soc. Sec. benefit.
When I applied, it was calculated at $651 per month. I know how the government works, I used to work for them. If I don't hear anything by Saturday, then I'll pay a visit to the SS office next week to see if they've processed my application yet. I've heard that if you apply online, that it takes three weeks to get your first check, but I don't know how true that is.
After reading through this, I thought I'd wait until I turned 66, now I'm not so sure, I've been unemployed for over 2 1/2 years now and face major age discrimination at 60. I'll still have to wait several years before I turn the magic 62. But things don't look good for me so I'm sure I'll start at 62.
When I applied, it was calculated at $651 per month. I know how the government works, I used to work for them. If I don't hear anything by Saturday, then I'll pay a visit to the SS office next week to see if they've processed my application yet. I've heard that if you apply online, that it takes three weeks to get your first check, but I don't know how true that is.
It takes longer than that once you apply. You always start one month behind in getting the first and then it depends on when your birthday was as to when in the monthafter that.
I'm so GLAD, I read this thread. I'm 60 and contemplating retiring @ 62-63. I've already got the estimation of what my benefits are going to be & I will have a modest pension from a job I had for 20 + years.
I'm gonna do it. Y'all are great and thanks to all for the informative posts. It helped me make up my mind.
I sugest that you make a appoinment oline with local ffice and then you will know everythign from amount to date of first check when you leave. They maybe different in differn places but mine took about 30 minutes and I left knowing everything I needed. Just be sure and have all the documents they list for you to bring. Mine was a breeze.
I sugest that you make a appoinment oline with local ffice and then you will know everythign from amount to date of first check when you leave. They maybe different in differn places but mine took about 30 minutes and I left knowing everything I needed. Just be sure and have all the documents they list for you to bring. Mine was a breeze.
I elected to apply online, three months before I planned to retire and several months after I turned 62. They called me two or three weeks later, told me when and how much the first check would arrive. Did the same when my wife turned 62 and it was equally as smooth. All checks have gone into direct deposit a day ahead of schedule ever since.
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