Social Security?

[Carta]

DH turned 62 this past Oct., applied last July, didn't see a thing 'till last week.

That's exactly what I was told.. Your husband applied in July; 3 mos. b4 his 62nd b-day.. He got paid in Dec,; b/c the payments start one month after October..So the check he got in Dec. was payment FOR November...

The reason for applying 3 mos. b4; is to have everything go smoothly when you turn 62..

 

[Pat H]

If you have already turned 62 when you apply, you may be able to get your first check in the same month you apply.

 

[Miss Marty]

Social Security Statement


Information Regarding the Social Security Statement
From their website - www .ssa. gov /mystatement/

In light of the current budget situation, we are sending Social Security Statements only to workers age 60 and older. If this applies to you, you should receive your annual Statement about three months before your birthday.

If you are younger than age 60, you may be able to estimate your retirement benefit using our online Retirement Estimator.

 

[IngridN]

Information Regarding the Social Security Statement
From their website - www .ssa. gov /mystatement/

In light of the current budget situation, we are sending Social Security Statements only to workers age 60 and older. If this applies to you, you should receive your annual Statement about three months before your birthday.

If you are younger than age 60, you may be able to estimate your retirement benefit using our online Retirement Estimator.

I thought they stopped mailing the statements altogether. DH is over 60 and hasn't received a statement in several years. The SSA's website is great. I've played with the calculator over the years, especially a couple of months ago when we were updating our financial plan and doing some what ifs to determine when to begin SS payments to maximize our income stream.

Ingrid

 

[pedro47]

Most people who owe tax and don't have regular tax withholding would be better advised to make quarterly estimated tax payments to avoid underpayment penalties for failure to pay the tax ratably over the year. Although the current IRS penalty rate is only 3% of the underpaid tax, that's a lot more than most of us can earn on our investments in these days of low interest rates and a generally flat stock market - and the penalty is not deductible.

Thus, if you are earning interest at (for example) 1% and the interest is taxable, you would be a loser by paying a 3% nondeductible penalty.

Now that is great advice !!!