Signing Up For Social Security

[turkeyrun]

Online

It's easy

Just make sure you have a notebook. Make note of ID, passwords, any confirmation and account numbers, and the date you signed up.

Have your bank info ready for Direct Deposit.

Will take about 40 - 45 minutes to get it done.

 

[THAT Gurl]

I figure by the time I turn 65, “if I make it to 65” they will raise the age to 80.
I hoping to just work part time as a cash only gigolo from age 65-75. That should help with funds.

This is how Grumpy feels because they increased his full retirement date to 67 and some months back in the 90s I think it was ... Mine went from 65 to 66 and some months. Nevermind all that I figured I might as well go ahead at 62, given our particular set of circumstances.

 

[OK Corgi Rancher]

Hmm. After looking into it, I think we’re talking about two different entities that happen to have the same name. My CommunityCare is an insurance provider (CommunityCare of Oklahoma) that is apparently owned by the St. Francis and Ascension St. John’s healthcare systems in Tulsa. It doesn’t appear to be at all affiliated with the VA’s Community Care program.

I guess that would explain the disparity of opinions...

Yeah... The VA Community Care program is the one I'm talking about. It's designed to allow certain veterans to receive health care from local providers if, for example, they live too far from a VA facility or if the VA facility can't provide the care the veteran needs.

The VA hasn't been fond of it since it came about after a restructuring several years ago. It's chronically understaffed and the VA doesn't like it the funds to pay for the program come from their budget.

 

[okcBob]

Way I understand it is 70 is full retirement

https://www.ssa.gov/pressoffice/IncRetAge.html
Full retirement age is 65-67 depending on your year of birth.

https://www.aarp.org/retirement/soc...wers/social-security-full-retirement-age.html

 

[rickm]

My understanding is 70 is the year that you can get max increases and at 70 you can work and make as much as you want without affecting your SS payments. But full retirement age depends on your date of birth after 65 mine is 66-6

 

[O4L]

Online

It's easy

Just make sure you have a notebook. Make note of ID, passwords, any confirmation and account numbers, and the date you signed up.

Have your bank info ready for Direct Deposit.

Will take about 40 - 45 minutes to get it done.

I'm glad it works well for most but I spent that much time just trying to get my identification verified and now I have to wait on a letter to arrive before I can move forward.

 

[SlugSlinger]

Here's a table I built using the SS Payment reduction logic.
https://www.ssa.gov/benefits/retirement/planner/1960.htmlThis doesn't look at the impact of inflation. And we all understand a dollar received today is worth more than a dollar received tomorrow.

If the full monthly payment would be $1000 at age 67, you would get $700 per month if retiring at 62.
The total missed $700 payments waiting to age 67 is $42,700.

Correction:
It would take about 12 years of $1000 payments to break even with the missed $42,700.

If you were born between 1960 your full retirement age is 67
You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
The chart below provides examples of the percentage of your full retirement benefit amount you and your spouse would receive from age 62 up to your full retirement age.
How Your Social Security Benefit Is Reduced
		If you start getting benefits at age *	And you are the: Wage Earner, the Retirement Benefit you will receive is reduced to	And you are the: Spouse, the Retirement Benefit you will receive is reduced to	Reduced Payment %	Full Payment	Reduced Starting Month Monthly Payment	Cumulative Missed Amount from 62
1​	1​	62	70.00	32.50%	-30.0%​	$ 1,000.00	$ 700.00	$ 700.00
2​		62 + 1 month	70.40	32.7	-29.6%​	$ 1,000.00	$ 704.00	$ 1,400.00
3​		62 + 2 months	70.80	32.9	-29.2%​	$ 1,000.00	$ 708.00	$ 2,100.00
4​		62 + 3 months	71.30	33.1	-28.7%​	$ 1,000.00	$ 713.00	$ 2,800.00
5​		62 + 4 months	71.70	33.3	-28.3%​	$ 1,000.00	$ 717.00	$ 3,500.00
6​		62 + 5 months	72.10	33.5	-27.9%​	$ 1,000.00	$ 721.00	$ 4,200.00
7​		62 + 6 months	72.50	33.8	-27.5%​	$ 1,000.00	$ 725.00	$ 4,900.00
8​		62 + 7 months	72.90	34	-27.1%​	$ 1,000.00	$ 729.00	$ 5,600.00
9​		62 + 8 months	73.30	34.2	-26.7%​	$ 1,000.00	$ 733.00	$ 6,300.00
10​		62 + 9 months	73.80	34.4	-26.2%​	$ 1,000.00	$ 738.00	$ 7,000.00
11​		62 + 10 months	74.20	34.6	-25.8%​	$ 1,000.00	$ 742.00	$ 7,700.00
12​		62 + 11 months	74.60	34.8	-25.4%​	$ 1,000.00	$ 746.00	$ 8,400.00
13​	2​	63	75.00	35	-25.0%​	$ 1,000.00	$ 750.00	$ 9,100.00
14​		63 + 1 month	75.40	35.2	-24.6%​	$ 1,000.00	$ 754.00	$ 9,800.00
15​		63 + 2 months	75.80	35.4	-24.2%​	$ 1,000.00	$ 758.00	$ 10,500.00
16​		63 + 3 months	76.30	35.6	-23.7%​	$ 1,000.00	$ 763.00	$ 11,200.00
17​		63 + 4 months	76.70	35.8	-23.3%​	$ 1,000.00	$ 767.00	$ 11,900.00
18​		63 + 5 months	77.10	36	-22.9%​	$ 1,000.00	$ 771.00	$ 12,600.00
19​		63 + 6 months	77.50	36.3	-22.5%​	$ 1,000.00	$ 775.00	$ 13,300.00
20​		63 + 7 months	77.90	36.5	-22.1%​	$ 1,000.00	$ 779.00	$ 14,000.00
21​		63 + 8 months	78.30	36.7	-21.7%​	$ 1,000.00	$ 783.00	$ 14,700.00
22​		63 + 9 months	78.80	36.9	-21.2%​	$ 1,000.00	$ 788.00	$ 15,400.00
23​		63 + 10 months	79.20	37.1	-20.8%​	$ 1,000.00	$ 792.00	$ 16,100.00
24​		63 + 11 months	79.60	37.3	-20.4%​	$ 1,000.00	$ 796.00	$ 16,800.00
25​	3​	64	80.00	37.5	-20.0%​	$ 1,000.00	$ 800.00	$ 17,500.00
26​		64 + 1 month	80.60	37.8	-19.4%​	$ 1,000.00	$ 806.00	$ 18,200.00
27​		64 + 2 months	81.10	38.2	-18.9%​	$ 1,000.00	$ 811.00	$ 18,900.00
28​		64 + 3 months	81.70	38.5	-18.3%​	$ 1,000.00	$ 817.00	$ 19,600.00
29​		64 + 4 months	82.20	38.9	-17.8%​	$ 1,000.00	$ 822.00	$ 20,300.00
30​		64 + 5 months	82.80	39.2	-17.2%​	$ 1,000.00	$ 828.00	$ 21,000.00
31​		64 + 6 months	83.30	39.6	-16.7%​	$ 1,000.00	$ 833.00	$ 21,700.00
32​		64 + 7 months	83.90	39.9	-16.1%​	$ 1,000.00	$ 839.00	$ 22,400.00
33​		64 + 8 months	84.40	40.3	-15.6%​	$ 1,000.00	$ 844.00	$ 23,100.00
34​		64 + 9 months	85.00	40.6	-15.0%​	$ 1,000.00	$ 850.00	$ 23,800.00
35​		64 + 10 months	85.60	41	-14.4%​	$ 1,000.00	$ 856.00	$ 24,500.00
36​		64 + 11 months	86.10	41.3	-13.9%​	$ 1,000.00	$ 861.00	$ 25,200.00
37​	4​	65	86.70	41.7	-13.3%​	$ 1,000.00	$ 867.00	$ 25,900.00
38​		65 + 1 month	87.20	42	-12.8%​	$ 1,000.00	$ 872.00	$ 26,600.00
39​		65 + 2 months	87.80	42.4	-12.2%​	$ 1,000.00	$ 878.00	$ 27,300.00
40​		65 + 3 months	88.30	42.7	-11.7%​	$ 1,000.00	$ 883.00	$ 28,000.00
41​		65 + 4 months	88.90	43.1	-11.1%​	$ 1,000.00	$ 889.00	$ 28,700.00
42​		65 + 5 months	89.40	43.4	-10.6%​	$ 1,000.00	$ 894.00	$ 29,400.00
43​		65 + 6 months	90.00	43.8	-10.0%​	$ 1,000.00	$ 900.00	$ 30,100.00
44​		65 + 7 months	90.60	44.1	-9.4%​	$ 1,000.00	$ 906.00	$ 30,800.00
45​		65 + 8 months	91.10	44.4	-8.9%​	$ 1,000.00	$ 911.00	$ 31,500.00
46​		65 + 9 months	91.70	44.8	-8.3%​	$ 1,000.00	$ 917.00	$ 32,200.00
47​		65 + 10 months	92.20	45.1	-7.8%​	$ 1,000.00	$ 922.00	$ 32,900.00
48​		65 + 11 months	92.80	45.5	-7.2%​	$ 1,000.00	$ 928.00	$ 33,600.00
49​	5​	66	93.30	45.8	-6.7%​	$ 1,000.00	$ 933.00	$ 34,300.00
50​		66 + 1 month	93.90	46.2	-6.1%​	$ 1,000.00	$ 939.00	$ 35,000.00
51​		66 + 2 months	94.40	46.5	-5.6%​	$ 1,000.00	$ 944.00	$ 35,700.00
52​		66 + 3 months	95.00	46.9	-5.0%​	$ 1,000.00	$ 950.00	$ 36,400.00
53​		66 + 4 months	95.60	47.2	-4.4%​	$ 1,000.00	$ 956.00	$ 37,100.00
54​		66 + 5 months	96.10	47.6	-3.9%​	$ 1,000.00	$ 961.00	$ 37,800.00
55​		66 + 6 months	96.70	47.9	-3.3%​	$ 1,000.00	$ 967.00	$ 38,500.00
56​		66 + 7 months	97.20	48.3	-2.8%​	$ 1,000.00	$ 972.00	$ 39,200.00
57​		66 + 8 months	97.80	48.6	-2.2%​	$ 1,000.00	$ 978.00	$ 39,900.00
58​		66 + 9 months	98.30	49	-1.7%​	$ 1,000.00	$ 983.00	$ 40,600.00
59​		66 + 10 months	98.90	49.3	-1.1%​	$ 1,000.00	$ 989.00	$ 41,300.00
60​		66 + 11 months	99.40	49.7	-0.6%​	$ 1,000.00	$ 994.00	$ 42,000.00
61​	6​	67	100.00	50	0.0%​	$ 1,000.00	$ 1,000.00	$ 42,700.00

 

[okcBob]

My understanding is 70 is the year that you can get max increases and at 70 you can work and make as much as you want without affecting your SS payments. But full retirement age depends on your date of birth after 65 mine is 66-full retirement age until age 70

Payments after full retirement age (65-67) up to age 70 are called delayed payments & increase until age 70.
After full retirement age (65-67), you can earn as much as you want without affecting your payments.

 

[W150]

If the full monthly payment would be $1000 at age 67, you would get $700 per month if retiring at 62.
The total missed $700 payments waiting to age 67 is $42,700.
It would take 42.7 months (3.6 years) of $1000 payments to recover the missed $42,700.

If

I think you miscalculated. The difference is $300 per month not $1000.
$42700 divide by $300 = about 12 years till break even.

 

[SlugSlinger]

I think you miscalculated. The difference is $300 per month not $1000.
$42700 divide by $300 = about 12 years till break even.

Thanks for posting that.