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All You Should Know Before Applying For Social Security

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Are you new to Social Security and are interested in getting the best information to help you get started? 

Social Security was created in 1935. It’s a type of program that was designed specifically to provide retirement income for some workers in the United States. According to a recent study, more than 66 million people (especially from different households headed by older Americans) enjoy the benefits of Social Security today.

  • For instance, Social Security provides roughly 42% of elderly women and 37% of older men in the US with a minimum of 50% of their income.
  • Furthermore, according to the Social Security Administration (SSA), roughly 15% of older women and 12% of elderly men gain at least 90% of their income from this program.

In the rest of this post, you’ll discover all you should know about Social Security, including how to apply for it.

1. What exactly is Social Security?

The US Social Security program was established about nine decades ago. Today, this program has become a popular and vital public pension system for US workers.

To be eligible to apply for Social Security and enjoy its benefits, you need to be 62 years or older. However, to enjoy your full retirement benefits, you’ll have to wait until 67 years (if born in 1960 or after) or 66 years (if born between 1943 to 1954) to maximize your monthly payout.

The bottom line is that your eligibility to enjoy the full retirement benefits that come with Social Security depends on your birth year. However, you can always expect to enjoy the full benefits between 65 to 67 years.

2. What benefits are associated with Social Security?

Today, Social Security benefits are categorized into two parts; spousal benefits and survivor benefits.

  • Spousal benefits are specifically designed for spouses who didn’t earn enough credits to apply for Social Security on their own. These benefits are also ideal for spouses who didn’t work. Spousal benefits are usually about half (or even less) of the full retirement advantages their spouses are entitled to.
  • On the other hand, survivor benefits can be filed as early as 60 years, as long as a spouse has died. Without reaching the full retirement year, however, the survivor will only receive reduced benefits. These benefits are ideal for widowers, widows, and dependents of eligible workers.

3. What is the most effective way to apply for Social Security?

You have two options when it comes to applying for Social Security.

  • First, you can decide to visit your local Social Security office to apply in person.
  • Alternatively, you can call the Social Security office or apply online for this program.
  • To apply, you will need to provide the following information for retirement & spousal benefits:
  1. Place & date of birth
  2. Marital history
  3. Number of children
  4. Military service (optional)
  5. Jobs held in the last two years, including their starting & stopping dates.
  6. Your bank’s routing number
  • For survivor benefits, here are the things you need:
  • Social Security number of the earner
  • Death certificate of the earner
  • Your Social Security number and those of other dependents
  • Your birth certificate.
  • Tax records
  • Marriage certificate

For more information on how to apply for Social Security today, you can visit our official website at Info65.com.

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