Some Helpful Information Which Will Assist You To Know When And How To Submit Your Social Security Application

As you get closer to retirement one of your top questions is most likely when and how to submit your Social Security application. Should you apply at age 62 or 66? What is the procedure for applying for Social Security once you've decided to begin collecting retirement benefits? We'll address these quires and more in the following paragraphs.

When to Apply for Social Security Retirement Plus Points

Social Security retirement benefits can be collected as early as age 62 or as late as age 70. Full retirement age hinges on your birthday, but for boomers now starting to retire, the full retirement age is 66. If you get advantages before you reach full retirement age, your benefit will be decreased by up to 25%. On the other hand, if you postpone collecting benefits after you get to full retirement age, your benefit will raise by 8% every year until you reach age 70. After age 70 you can no longer earn credits hence there is no advantages to delaying benefits after age 70.

According to the Social Security Administration, approximately 73% of present Social Security beneficiaries are getting decreased benefits (because they elected to get them prior to their full retirement age); however this may not be the best plan. Your health, life expectancy, marital status and other sources all play a role in when you must start collecting benefits. Since Social Security plays such a crucial role in your retirement income (at least for most people), it is advised that you consult a financial expert who have experience in Social Security to help you determine the good time to start receiving retirement advantages.

How to Apply for Social Security Benefits

Once you've decided when to start your advantages, how do you submit your Social Security retirement application? There are three ways to apply for Social Security:

1. You could go online to Social Security.gov and apply for advantages right on the website. However, at this time you can only apply for retirement benefits online (you should call or go to an office in person to apply for survivor benefits).

2. Call 800-772-1213 to apply for advantages by telephone.

3. Or you can go to an office personally if you want to talk to an employee in person. To locate the closest office, visit the website at Social Security.gov.

You will require the following information when you submit your Social Security application:

- Social Security digit

- Name at birth, date and place where you were born

- Citizenship status

- Active duty service dates

- Marital status, partner's name, birth-date and SSN

- Name, date of birth and SSN of any former spouses

- Names of any not married children below 18 years

- The name and address of every company you worked for in the last two years, integrating estimated income

- If you are within 3 months of turning 65, you'll also have to let Social Security know if you are enrolling in Medicare or not.

Further details may be required if you are self employed or if you worked in a government work which will provide a pension benefit.

Submit Your Social Security Application Three Months in Advance

You must apply for Social Security retirement benefits three months before the date you wish to start getting benefits. Payments are sent the month after the month they are due. For example, if you apply for retirement benefits and demand that they begin in October of 2010, you will receive your first payment in November 2010.

Social Security Spousal Benefit: What Benefits Is Your Wife Or Husband Entitled To?
Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's earnings the following requirements must be met:

How You Will Go With Social Security Survivor Benefits After Your Spouse Passes Away
When Social Security was first established, it only paid retirement income to workers who qualified. It was later amended to include benefits for spouses and survivors, which made it more of a family or insurance plan, instead of just a retirement plan.

Three Ways A Financial Planner Can Help You Realize Your Financial Goals
Many people wonder exactly what a financial planner does, and how they can help you. Here are just three ways a financial planner can help you achieve your financial dreams and goals.

New Rules Mean More Men And Women Doing Roth IRA Conversions In 2010
As we near the end of 2010, countless people have already done Roth IRA conversions, and many others are questioning if a Roth IRA conversion in 2010 is the right move for them.

Gold Coin Prices Guide Can Give Amazing Information To Invest At Best Time
Coin collecting, there are tools that you'll need to acquire to make your numismatic experience both fun and rewarding. The most valuable tool that you can get your hands on is an up-to-date gold coin price guide. Inside you will find great information to help you enjoy your new hobby

Learn How To Get A Social Security Cost Of Living Increase
A cost-of-living increase is basically a reassessment of the average amount of money that a person needs in order to survive. Cost of living increases are often provided by employers to employees to make sure that people's incomes are substantial enough for them to meet the basic costs of living.

Gold Coins: Putting Revenue In Your Profile
Some invest in coins for their durable value, which has increased reliably. Offering protection against inflation, gold coins do not diminish in buying power like cash. Whatever the buyer's motive, gold coin prices

The Report Of Americans Buying Gold Coins
Buy gold coins is becoming popular as an investment for two key reasons. First, they can be easily purchased and easily sold because they are guaranteed by the United States government. Buying gold coins in trust Gold Eagles