If you’re planning on retiring sometime early in the new year, now is the time to apply for Social Security retirement benefits. A convenient way to apply for Social Security benefits is online – from the comfort of your home or office. Just go to www.socialsecurity.gov/applyonline.
The Social Security website will walk you through the online retirement application process. It will tell you what information you will need to answer the questions on the application. Further, it will describe the documents you may need to present once you have submitted your application.
Before you start your application, I recommend you get an estimate of your retirement benefit. This too, you can do on the Social Security website at HYPERLINK “http://www.socialsecurity.gov/estimator” www.socialsecurity.gov/estimator. The Retirement Estimator uses your personal employment history to estimate your retirement benefit. It also will help you to answer some of the questions on the retirement application.
You can use the online application to apply for Social Security retirement or spouse’s benefits if you:
Are at least 61 years and 9 months old;
Want to start your benefits in the next four months; and
Live in the United States.
You will want to be fully informed of your options and their consequences before applying. The website will tell you everything you need to know about the Social Security “basics” so you’ll be ready to retire when you apply online.
Before filing online for retirement, we suggest you have the following information on hand:
Your date and place of birth and Social Security number;
Your bank or financial institution’s routing transit number and the account number, for direct deposit of your benefits;
The amount of money earned last year and this year. If you are filing for benefits in the months of September through December, you also will need to estimate next year’s earnings;
The name and address of your employer(s) for this year and last year;
The beginning and ending dates of any active U.S. military service you had before 1968;
The name, Social Security number and date of birth or age of your current spouse and any former spouse. You also should know the dates and places of marriage and dates of divorce or death (if appropriate); and
A copy of your Social Security Statement.
Even if you don’t have all the information Social Security needs, you should go ahead and apply. Social Security will contact you later if they need additional documentation.
Applying online means there is no need for you to go to a Social Security office or wait for a scheduled appointment with a Social Security representative. According to the Social Security Administration, applying online is easy and can take as little as 15 minutes of your time.
So if you plan to start collecting benefits early in the new year, now’s the time to take action. Don’t delay; apply online today at HYPERLINK “http://www.socialsecurity.gov/applyonline” www.socialsecurity.gov/applyonline.
By: Matthew M. Wallace, CPA JD
Published edited December 6, 2009 in The Times Herald newspaper, Port Huron, Michigan as: Now is time to apply for retirement in new year