When to apply for social security?

Your ss check will be 25% more at 66, rather than taking it at 62. And a further 25% more at 70.

As long as you can live on the smaller ss check, then take it early.

Why is ss not going to last?? Are Americans going to stop contributing (I didn't realize that was an option)??

Social Security is able to pay 100 of benefits until 2033 and after that it will pay 77% of benefits, as far as we now know. And that is only if there is nothing done to make SS more solvent. If you are 57 you dont have to worry.

The full benefit retirement age for you if you were born in 1955 is 67. The partial benefit remains 62 as far as we know at this time. You have another 5 years to go to get partial benefits and if you still have a job I wouldnt get any Social Security yet. If you keep working you will lose $1 of your social security benefit for each $2 you earn over $14,600 per year until you are 67.

Social Security has $250 billion in government bonds. It is not bankrupt. The problem is that it pays out more than it takes in in revenues. And that I think is because too many kinds of benefits are paid out. Of the 50 million people getting SS each month, only 36 million are getting retirement benefits.

I'm retired. I know of some people that retired at 62 because they had civil service retirement program backing them. I know of some people that retired just after serving many years in the military but then they found another job to work at too. I know of people in the local government who retired and then came back into the exact same position and are getting double paid and right now that's still legal. I know of people who got caught inbetween 55 and 66 who got ill in some manner and filed for and got disability which covered them with benefits until the government switched their disability benefits to retirement benefits.

Having said that I've read up on what Yahoo has to say in their articles on retirement funds and social security. They're advising for a person to work as long as they can. Although one can never tell when they will get sick and need disability benefits. The working longer brings in more money that you'd save and live cheaply with. People downsize their homes, get rid of junk, have a family member rent in their home, etc. to prepare for retirement.

I can tell you that if you're earning a decent income now then you can still live inexpensively later in life but it's not going to be any picnic but since everyone else will be in the same boat, well your interests change. So I'd say to you if you're healthy then work till you're in your 70's at least. IF you have kids then treat them kindly so that they will treat you kindly later on. If you have a home and it's paid off then ten years before you get sick (your guess is as good as mine) sell it to your son or daughter for a dollar with the stipulation that you can live in that house for no rent payments till you die.

I m turning 62 soon..I want to retire and collect mine, I have no idea of my longevity, with most of family it has been short, I want time to enjoy my Grand babies...I know that I will take a cut, but that s ok, better to get some , than none...my question is..how soon do I need to apply for it, 3 months before, a month before?..Thanks!!

i am 65 , my family said i should apply for a ck from social security, am still working , what should i do.

turning 66 jan 30 2014 when do I apply so I can receive first check in feb

Social security will be around.

If not, you will see seniors with their canes and hubarounds throwing fire bombs at government buildings.

It would be WW3.

Your fear just needs to be that taxes will be higher.

SS is taxed.

Apply asap