A new, short video by the Denver Region of the Social Security Administration is now at http://www.socialsecurity.gov/denver/.
The third video in a series, When to Start Receiving Retirement Benefits, focuses on filing for retirement benefits at various ages. It also highlights how to create a my Social Security account to get your Statement and how, if you are receiving benefits, you will be able to make changes to your account and get a benefit verification letter instantly.
As noted in this approximately seven-minute video, Social Security representatives are often asked what the best age to start receiving retirement benefits is. The answer is there really is no one best age for everyone. You can start your Social Security retirement benefits as early as age 62 or as late as age 70. Your monthly benefit amount will be different depending on the age you start receiving it.
Watching this video will give you some ideas. The Social Security Retirement Planner has much more information and calculators to help in your planning. From the SSA homepage, www.socialsecurity.gov, go to the “Benefits” tab and then go to the Retirement section.
Creating a my Social Security account can help your overall financial planning, not just for retirement. Available there, your personal Social Security Statement contains several estimates and a record of your earnings history as shown on Social Security records. Social Security is more than retirement and these estimates are for more than just retirement planning. They provide current disability estimates for you and your family as well as suvivors estimates for your children and other family members.
Another short video available there, Medicare Enrollment Periods at Age 65, covers the four parts of Medicare, when to enroll in Medicare, when coverage begins, and how to apply. More Medicare information and an online application are at www.socialsecurity.gov. From the homepage, go to the “Benefits” tab and then go to the Medicare section.
Watch When to Start Receiving Retirement Benefits, available on your schedule, 24 hours a day, 7 days a week.