One of the most important choices you’ll ever make is how to pay for your retirement. Social Security is a big part of that plan. A lot of people depend on Social Security as a main source of income when they retire. Not matter how much money you have saved, Social Security is still a big part of keeping up your standard of living.
So, if you want to apply for Social Security in 2025, there are a few important things you should know so you don’t make mistakes that could lower your payments or cause your first check to be late.
How much will you receive from Social Security?
Before you apply for Social Security, one of the first things you should do is guess how much you’ll get. The Social Security Administration (SSA) has a tool online that can help you with this.
By making an account on my Social Security, you can use a calculator to figure out how much money you will get based on when you decide to start getting payouts. This could happen at any age between 62 and 70.
Remember that this estimate is based on how much money you expect to make in the future. If you plan to retire soon, it will be a pretty good guess. If you know this ahead of time, you can change your goals and figure out when it might be best to start getting your checks.
How does age affect your Social Security benefits?
How much money you get from Social Security depends on how old you are when you apply. To get your full benefit, you have to wait until you hit your full retirement age (FRA). For most workers, this is currently between 66 and 67 years old. Through your my Social Security account, you can find out what your FRA is.
Your monthly income will go down by up to 30% if you decide to claim Social Security before your FRA, which can happen as early as age 62. If you wait until you are 70 years old to apply, on the other hand, your payments will go up by up to 32%.
Many people can get bigger Social Security payments over the course of their lives if they delay getting it. But this choice will rely on your finances and how long you expect to live. You might want to apply earlier if you don’t have any other income or if you think you might not live long enough to get the bigger checks.
Before you decide, you should think about how your funds will change based on your age when you apply for Social Security in 2025 and whether you’re really ready to do so.
When should you apply for Social Security?
When you send in your Social Security application is another important thing to think about. This is what the SSA says: apply early because the approval process can take a while. Your application can be turned in up to four months before the date you want to start getting paid, which is helpful in case there are any problems.
Be careful if you want to start getting rewards right when you turn 62. You can only get full payments if you’ve been 62 for the whole month. Suppose your birthday is on the first or second of the month. In that case, you are qualified that month. If your birthday is later in the month, though, you won’t get your first check until the following month.
Another thing to keep in mind is that Social Security payments are paid by the government the month after they are due. In this case, if you turn 62 on March 15, 2025, you won’t get your first check until May, when the payment for April is handled. To avoid gaps in pay during this time of change, you need to plan ahead.
What documents do you need to apply for Social Security?
To speed up the process, make sure you have all the necessary documents ready when applying. Some of the documents you’ll need to provide include:
- Your Social Security number
- Your original birth certificate or proof of U.S. citizenship or residency status
- Your W-2 or tax return if you’re self-employed for the previous year
- Military service records, if you served before 1968
- Information about your marriage (or divorce) if you’re applying for spousal or ex-spouse benefits
If you’re missing any of these documents, contact the Social Security Administration as soon as possible to get assistance in locating them. Don’t leave your application to the last minute, as any issues with documentation could delay your first check.
Respond quickly to Social Security requests
The Social Security Administration may ask you for more information or papers to finish your application in some situations. If this happens, you need to reply right away to keep approval from being held up.
Also, keep in mind that mistakes or missing paperwork can slow down the process, so it’s important to read everything the SSA sends you. You’ll get your first cash faster if you answer quickly.
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