I applied for Social Security!
- Thread starter DeborahB
- Start date
Well, at last I bit the bullet (or some such cliche) and filled out the online application for SS. Wheee!
What next - wait until the money starts coming?
Congrats on the first step. I'll be watching with interest to see how the process proceeds.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Well, at last I bit the bullet (or some such cliche) and filled out the online application for SS. Wheee!
What next - wait until the money starts coming?
You'll get some info/forms from SS via snail mail and they will probably ask for a certified copy of your birth certificate and two fingers from your left hand for fingerprint verification. Not to worry, they will return everything to you promptly.
Your first bank deposit won't show up until sometime in March...
Major Tom
Thinks s/he gets paid by the post
Let us know how it goes thinker25. At the age of 47, I have a few years to go before I also claim SS, but I want to experience the thrill vicariously through you 
Keep us posted!
Keep us posted!
jimnjana
Thinks s/he gets paid by the post
Congrats, can you share your thought process with why you took it when you did?
youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
When I applied in July of 09, I filled out the forms on line and promptly received a statement via snail mail telling me how much I would be receiving and that my monthly payday would be the 4th Wednesday. Two months later, on the 4th Wednesday, the money hit my checking account via direct deposit and hasn't stopped yet. Never sent them anything via snail mail or even talked to anyone on the phone. I was pleasantly surprised at how simple it was. Very un-government-like.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Interesting. When I applied online in October of 2009 I was sent a snail-mail request for a certified copy of my birth certificate and a copy of my DD214. They were both returned to me within a few days along with the info on how much my monthly benefit would be and the date it would hit my bank account.
A little more involved than your application (I have no idea why) but still relatively simple.
youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hmmmmm..... Well, you live in Texas, right?
I was surprised they didn't even want a signature from me other than checking the box on line. I'd say my total time expended on applying was less than an hour including setting up the direct deposit.
I like my SS check. They're special dollars that are more fun to spend than my private sector dollars. I get all tingly and excited on the 4th Wed when, if convenient, I go look at the checking account to see the deposit.
W2R
Moderator Emeritus
Well, at last I bit the bullet (or some such cliche) and filled out the online application for SS. Wheee!
What next - wait until the money starts coming?
Congratulations! I am really happy for you, and after reading this I am tempted to pull the trigger myself. It's fun to read the other posts about "what happens next", too, since I really didn't have much idea about what would happen either. I hope the money starts appearing in your bank account quickly.
To answer several questions...
I did the math. Based solely on a total sum of payments, it would take me until I was 77 or so to get more money by waiting until 66 than taking it now. Also, I often make more than the 8% SS increase, on my investments. I will be in a low tax bracket - I estimated taxes for the next 3 or 4 years. I factored in taxes in my expenses.
I have had cancer (15 years ago). I come from a long-lived family, mostly, but who knows? At least I'll get something back. I have learned that you never know how long you will live, or how healthy you will be. I can't count on living to 99, but don't plan to run out of money, either...
I would like to lock it in so they can't change the rules too much (okay, don't all laugh at once on that one) but at least I have a chance of being grandfathered in (grandmothered in?).
I do not have any pension so there's no steady stream of money coming in. It's all investments. This way I don't have to take as much from my investments - possibly liquidating stocks in a down market - because I'll have a steady quasi-paycheck.
It probably won't keep up with inflation, I know that. I think it will cover close to half of my current expenses because basically I don't spend a whole lot of money. I've lived way below my means for a long time, maxing out a 401k and a roth ira annually. OTOH I am going on 2 blues cruises this year so it's not like I'm suffering.
I prefer to keep fingers on hands - attached - as long as possible. Hope this is painless and simple. So far... it is. I'm supposed to wait 5 business days before calling with any questions, so they can get me into the system.
I do wonder if they have a record - yet - of my wages for 2010 - I worked until July 2. I told them what I thought they were based on my last paycheck. I seriously doubt they would take my word for it, though. The W-2s ought to be out by the end of January, I think. I'll see how close I was.
Sounds like it will start in March, from various sources - a couple of months to process.
Thanks for all the encouragement!
I did the math. Based solely on a total sum of payments, it would take me until I was 77 or so to get more money by waiting until 66 than taking it now. Also, I often make more than the 8% SS increase, on my investments. I will be in a low tax bracket - I estimated taxes for the next 3 or 4 years. I factored in taxes in my expenses.
I have had cancer (15 years ago). I come from a long-lived family, mostly, but who knows? At least I'll get something back. I have learned that you never know how long you will live, or how healthy you will be. I can't count on living to 99, but don't plan to run out of money, either...
I would like to lock it in so they can't change the rules too much (okay, don't all laugh at once on that one) but at least I have a chance of being grandfathered in (grandmothered in?).
I do not have any pension so there's no steady stream of money coming in. It's all investments. This way I don't have to take as much from my investments - possibly liquidating stocks in a down market - because I'll have a steady quasi-paycheck.
It probably won't keep up with inflation, I know that. I think it will cover close to half of my current expenses because basically I don't spend a whole lot of money. I've lived way below my means for a long time, maxing out a 401k and a roth ira annually. OTOH I am going on 2 blues cruises this year so it's not like I'm suffering.
I prefer to keep fingers on hands - attached - as long as possible.
Hope this is painless and simple. So far... it is. I'm supposed to wait 5 business days before calling with any questions, so they can get me into the system.I do wonder if they have a record - yet - of my wages for 2010 - I worked until July 2. I told them what I thought they were based on my last paycheck. I seriously doubt they would take my word for it, though. The W-2s ought to be out by the end of January, I think. I'll see how close I was.
Sounds like it will start in March, from various sources - a couple of months to process.
Thanks for all the encouragement!
I turned 62 in June 2010 - retired July 2 2010...
I just couldn't stand working any more, or perhaps it was my particular job.
RHLnFLA
Dryer sheet aficionado
- Joined
- Mar 6, 2007
- Messages
- 35
Your first check of the year should include an "current earnings adjustment" and will should include any monies due you.
May you live to laugh about the days you agonized over this decision, all those many decades ago!
I turned 62 in June 2010 - retired July 2 2010...
No, working is working, it sucks!
When you turned 62 SS gave you a # that you would receive. Do you know how much it increased each month since you didn't take it on your 62nd B day?
I'll be 62 in April and trying to make my mind up about whether I should jump right in or hold off till DW is 62 in 23 months from now. I want to see if it is worth it to wait and how much it will increase every month that I wait.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
You should be able to calculate your monthly amount by calculating the decrease to your FRA using this table: Full Retirement Age = 66
W2R
Moderator Emeritus
Thank you! That is very convenient.
After looking at it, I think I'll see if I can wait a little while longer before claiming SS....
haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I also signed up today. It won't start for a while. I am not clear whether I will get my first payment the month after my birthday month, or if that month (birthday +1) is the first month for which I earn a benefit, and the actual payment will hit my account late in the following month. I may drop by the office and ask.
Ha
Ha
haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yeah, I bought the revolver option.
This was my experience too.
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
Oh, please! Will anyone leave some money for me? Still 8 years to go.
freebird5825
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
10 years for me.
