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Old 01-22-2016, 04:00 PM
 
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If I apply for and start getting Social Security in the middle of a year, after my birthday, does that short me for that 1st year? Starting with my next birthday (which would be 6 mos. later), starts a new year at the same amount?

Or would it be better to wait for the next year, and get a larger amount?
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Old 01-22-2016, 04:23 PM
 
Location: Sierra Nevada Land, CA
8,389 posts, read 9,134,430 times
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Quote:
Originally Posted by bpollen View Post
If I apply for and start getting Social Security in the middle of a year, after my birthday, does that short me for that 1st year? Starting with my next birthday (which would be 6 mos. later), starts a new year at the same amount?

Or would it be better to wait for the next year, and get a larger amount?
Having just applied, I can tell you that your benefit is based on years and months of age. But yea, 4% more if you wait 6 months
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Old 01-22-2016, 05:28 PM
 
Location: In a vehicle.
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I was told to start applying 6 months before your qualifying birthday....That way you get your check on time.
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Old 01-22-2016, 07:46 PM
 
Location: Eastern UP of Michigan
1,202 posts, read 682,104 times
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I like all the SS threads recently, as I turn 62 this year and will file and claim sometime between now and January 2018. Still negotiating with myself on the timing.


The SS site gives a great deal of information such as % and also a calculator that you enter all your years of work and you can play with different claiming periods.


But, the longer I keep working f/t this year, the fewer checks I'll get if I stop working or go part time in July. If I continue to work p/t into next year, I'll still have some checks withheld unless I really drop down in hours of work. My feeble aging brain gets confused easily.


It would probably behoove you to read the thread about collecting Contacting SS in January of "collecting" yr. could yield big bucks! it really helped me.
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Old 01-22-2016, 08:03 PM
 
Location: Florida
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The longer you wait to collect the larger the monthly check. If you can afford to wait I would do it. Also good for your spouce if you die first and your benefit is larger than spouse.

Do a lot of studying on when to collect.It is important.

Check on Medicare Part A sign up. I think you have to do this at 65. No cost. But if you do not sign up there could be financial penalties in the future.
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Old 01-22-2016, 10:47 PM
 
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Thanks for all your responses!

It's a nice surprise to find that if I collect mid-year, the ck will be bigger than @ beg. of year.

I think I might wait until end of year, now that I think about it more.

But I missed applying before my birthday. So I didn't know how it works if you start mid-year between birthdays. I'd feel better getting a larger amount, though, I think.

I'm going to check out that link in JimAndThom's post above. Thanks!
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Old 01-22-2016, 10:58 PM
 
Location: SoCal
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It's best to get benefit starting Jan. There was a thread recently.
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Old 01-23-2016, 08:24 AM
 
Location: Sierra Nevada Land, CA
8,389 posts, read 9,134,430 times
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Quote:
Originally Posted by bpollen View Post
Thanks for all your responses!

It's a nice surprise to find that if I collect mid-year, the ck will be bigger than @ beg. of year.

I think I might wait until end of year, now that I think about it more.

But I missed applying before my birthday. So I didn't know how it works if you start mid-year between birthdays. I'd feel better getting a larger amount, though, I think.

I'm going to check out that link in JimAndThom's post above. Thanks!
It takes the same amount of time between when you apply and when you get your first check. But you can pick the month of your first payment. I pick the month I turned 66 and will get my first check the following month.
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Old 01-23-2016, 02:50 PM
 
Location: Eastern UP of Michigan
1,202 posts, read 682,104 times
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Thinking this through abit---------I think that I am going to apply so that my first check would hit the checking account in Dec. That check will be withheld due to my 2016 income.


I would then on Jan 1, 2017 start working even fewer hours and not be subject to checks being withheld as the new $$ level and earnings year would have kicked in. That should give me a January deposit. I may postpone until the end of 2017 and use the same timing.


Jim cannot collect on my record due to having a public pension subject to the WEP(?). That eliminated one of the good reasons for delaying the collection date. Decided that we are better off collecting earlier and probably not having to hit the savings or retirement accounts until the RMDS on IRAs.


I've done more math and story problems in the last 12 months than I did in all my years in school.
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Old 01-23-2016, 03:25 PM
 
Location: Jamestown, NY
7,841 posts, read 7,324,391 times
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Quote:
Originally Posted by rjm1cc View Post
The longer you wait to collect the larger the monthly check. If you can afford to wait I would do it. Also good for your spouce if you die first and your benefit is larger than spouse.

Do a lot of studying on when to collect.It is important.

Check on Medicare Part A sign up. I think you have to do this at 65. No cost. But if you do not sign up there could be financial penalties in the future.
Yep. You sign up for Medicare Part A when you turn 65 even if you still have coverage through work. Part B is a little trickier. If you're employed and have HI, you don't have to sign up for B until you're no longer covered by your employer's plan, but you have to submit a form signed by your personnel office saying you had coverage until a certain date. I think it's the same for Part D, too.
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