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It all depends on your age when you start. If you start at 62 with a birthday in Feb (assuming your birthday is after the 1st of February), you will get your first check in April. However, after that, if you start your SS in your birth-month, you will get the check the following month. And if your birthday is the 13th, it will arrive the 3rd Wednesday of each month.
So, you essentially miss a month? And they don't make up the payment for the actual birth month. So, the first year you get 11 months of SS, not 12. What's that about?
This is one data point and it's Survivor Benefits, but in my case it was almost exactly a month. DH died on 11/15/2016 and I filed in person 11/23. Benefits based on my own record would be larger but I'm waiting on that till I'm 70. The first check showed up in my account 12/30. It included an advance payment for January, which surprised me. The info on the SS site wasn't very specific and I backed into it by doing the math myself and it was confirmed when I didn't get an SS deposit in January.
So, you essentially miss a month? And they don't make up the payment for the actual birth month. So, the first year you get 11 months of SS, not 12. What's that about?
Because SS says you are not 62 until you have been 62 for an entire month. That's why those folks whose birthday is on the 1st of the month will get their SS check the month after they turn 62 - because they were 62 for an entire month.
Because SS says you are not 62 until you have been 62 for an entire month. That's why those folks whose birthday is on the 1st of the month will get their SS check the month after they turn 62 - because they were 62 for an entire month.
I asked the question and I will be 66 at the time of taking it, not 62. I see what you mean but it does get them off the hook for a month. Oh well.
I asked the question and I will be 66 at the time of taking it, not 62. I see what you mean but it does get them off the hook for a month. Oh well.
Your SS check will always be paid for the preceding month and, unless you were alive the entire preceding month they will take back your final check when you die, your survivor then has to file for survivor benefits.
One small concession they make is with the COLA raises, Everyone expects them in January of the year, however technically they would not be due until February but people raised such a stink that they just give that first pay raise in the January check.
Your SS check will always be paid for the preceding month and, unless you were alive the entire preceding month they will take back your final check when you die, your survivor then has to file for survivor benefits.
One small concession they make is with the COLA raises, Everyone expects them in January of the year, however technically they would not be due until February but people raised such a stink that they just give that first pay raise in the January check.
It's the math. Divide 8% by 12 months. Result is .0067. That is how much of the FRA amount each month of delay gets you up until 70. If your FRA benefit is $2000/mo, you gain ($2000) x (.0067) for every month you delay up until age 70. Conversely, that is also how much you forego if you take it one month early. Therefore, it's likely more than $1.00.
Yes I'm 69. Oh dear...at least two more months....?!
Not to be in your personal business but since you are so close to 70, can you delay? You don't have savings that would carry you a few months until to get unemployment?
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