The Social Security Administration (SSA) advises you to apply for retirement benefits three months before you want your benefits to begin. Even if you have no plans to receive retirement benefits, you should st
Live on Social Security Alone Anything is possible, but here’s what to know if you think you’ll be retiring on Social Security alone. Maryalene LaPonsieMarch 31, 2025 Maximize Your Medicare Advantage Perks You're leaving money on the table if you don’t use all your benefits. ...
Social Security is a federal program providing income to retired workers, disabled people and sometimes workers' spouses and dependents. Payroll taxes fund it.
The Social Security system will begin to run out of money to pay full benefits in 2033, and if no fix is made, benefits would be cut by about 20 percent.
The monthly Social Security benefit you're eligible for in retirement will be calculated based on your 35 highest-paid years of earnings. This means that if you only have a 33-year career, you'll have a $0 factored into your benefits equation for the two years you're missing an income....
Figuring out when and how to take Social Security can be a complicated decision. If you're widowed, divorced, or have never married, here are some strategies to consider to help make the most of your Social Security benefits.
The earliest you can apply forSocial Security benefitsis at age 61 and nine months, and you can expect to receive your first payment four months later—the month after your 62nd birthday. Typically, Social Security benefits are paid the month after they are due.1 ...
How do I apply for Social Security benefits? You can apply for Social Security benefits through the Social Security Administration website. You can apply for yourself or on behalf of someone else. Before you apply, you can also check your eligibility for Social Security benefits. Social Security...
Younger workers need to work for a shorter period of time to be eligible for disability or survivor benefits. How is Social Security funded? Social Security is funded with a payroll tax on workers and their employers. You pay tax on your earnings up to $176,100 (in 2025), and the rate...
If you're approaching retirement, now's a good time to learn how to maximize your Social Security benefits. Some little-known strategies could boost your household’s benefits, whether you live alone or still have minor children at home. Here are six ways to get the most out of your ...