Do we need a separate Social Security thread?

Parent Cafe
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Or should we post all Social Security questions on the very helpful retirement planning thread here: http://talk.collegeconfidential.com/parent-cafe/1651226-how-much-do-you-think-you-need-to-retire-and-at-what-age-will-you-and-spouse-retire-p1.html

If a thread dedicated to Social Security questions would be redundant, would a moderator please move this post there?

Thinking a SS thread could be of value to any CCrs who, like me, have belatedly realized they don’t know a lot about it, and that much of what they thought they knew is wrong.

Stumbling across this SS calculator has changed our retirement planning somewhat: https://opensocialsecurity.com/ I suggest doing the advanced version. I don’t want this to get too long, so I’ll post my only other tip below.

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There’s also this thread, which I’ve been following:
http://talk.collegeconfidential.com/parent-cafe/2124365-approved-for-social-security-benefits-p1.html

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I’d always put off opening a mySocialSecurity account until it started to look as if I might file for benefits before reaching full retirement or Medicare-qualifying age. If you’re going to file online (you don’t have to), you need a mySocialSecurity account. People can open one at any age - and it might be easier to remember the answers to the identification questions if you don’t have a credit history that’s 40-plus years old. An advantage is getting your annual Social Security statement online, which means you don’t have to remember where you put it last year.

The tip: have a copy of your credit report handy when you open your account. I’m glad the questions are rigorous, but I failed on my first attempt because I couldn’t remember information about a credit card from 1979 (yup). Nor could I recall the details about an auto loan from 2006. The car is no longer with us, and I’m sure my husband has the paperwork in a bin somewhere in the basement but I just couldn’t face hunting for it - plus I’m sure the application would have timed out before I found it.

You’ll be locked out of opening an account for 24 hours if your answers don’t match theirs, but you can get back into the system if you call them at 1-800-772-1213 (say “help desk” at the prompt), M-F 7AM-7PM.

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Thanks, @CTmom2018 - that’s an enlightening thread. And also shows how confusing and open to interpretation the rules are, God help us.

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I repeatedly failed in my attempts to open an online account. I went into the local office and they opened one for me on the spot, sharing that lots of folks can’t remember the answers to decades old questions about accounts, credit cards, mortgages, etc. The questions on the online application were ridiculous.

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I didn’t have to do any of that when I opened my Social Security account online. I did it four or five years ago.

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Just got my first spousal SS check - unexpectedly - last Wednesday. Checks are deposited on Wednesday depending on your day of birth. If your birthday is early in the month you get your check on the 2nd Wednesday. If your birthday is mid month you get your check 3rd Wednesday, and if late in the month, 4th Wednesday. I called SS a few weeks ago to check on my application and the very helpful man I spoke to explained that my spousal check would come based on my wife’s birthday, which is late in the month. But I received a deposit on the 2nd Wednesday, and there was nothing withheld for Medicare (they are supposed to take out a monthly payment for Medicare). I will wait and see what happens next month before calling again.

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When I tried to open an online account, I got the message that an account couldn’t be opened for my SSN. Has anyone else had that happen? Obviously I’ll have to call them, but that seems weird to me. I never even got to any questions about accounts, credit cards etc.

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@Mom2jl, yes that happened to my husband. He called and was told that it’s because he has his credit reports frozen. Actually we only have 2 of the 3 bureaus frozen, but that seems to have prevented online registration. Good to learn here that the local office can open an online account. Now I’ll have to convince him to go that route.

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Do you have a security freeze or fraud alert on your credit report, @Mom2jl? Apparently that will result in a message like the one you received: https://faq.ssa.gov/en-US/Topic/article/KA-02711

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@GRITS80 and @frazzled1, that explains it! Thank you so much! I have a freeze with all three credit bureaus. It looks like they use Equifax for verification, so I’m going to try lifting the freeze there temporarily and see if that works. I’d rather not have to go in person to the local office.

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You don’t have to go to the local office. You can do it by phone.

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Has anyone used the calculator that determines when you should take social security? I used one that I know is highly regarded and itvsaid I should take it at age 62.1? I can’t figure out why it would say that. I thought it was always better to wait?

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@maya54, if you’re married, is your spouse older and/or the higher earner? That may explain the suggestion to take yours so early.

Did you use https://opensocialsecurity.com/? If you do the advanced version, you can also test alternative claiming strategies at the bottom of the page, after your recommended strategy and year-by-year results.

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Yes I used opensocialsecurity. My spouse is one year older and his salary and mine are very close. We both are near the top of SS benefits.

Still don’t understand why it says I should take benefits early. Whats the reason it would say that if spouse is older or higher earner ?

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@NJres I think they were wrong that your check would come based on your spouse’s DOB. My father got his check on the 2nd Wed (birthday the 10th) and my mother got hers on the 3rd (birthday the 16th). When he died, her amount switched to his amount, but her check date remained the 3rd Wed, based on her birthday of the 16th.

Remember that your check is for the prior month, so if you had already paid your medicare for May, there would be no deduction in the June check.

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I signed up for SS online so I must have created an account…right? I’m very good about recording passwords…and I have no record of this.

I’m hoping I can resolve this with a phone call. My experience calling SS on the phone is…put the call on speaker phone while on hold forever…and do the laundry or something.

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@maya54, as I understand it, a common strategy is for the lower earning spouse to file for their benefit sooner, while the higher earning spouse maximizes their benefit by filing after their full retirement age (up to age 70). Did you input alternative strategies, such as both of you filing after full retirement age? The calculator should show which strategy yields the best benefit.

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I visited the SS office 3 times and called 2 times and then I, myself, figured out the I needed to unfreeze my accounts.
No one else did.
Not sure why they would say to draw benefits at age 62?
If possible at all the age to draw is 70.

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My husband will turn 62 in November, and he/we have decided to file (bird in the hand, etc).

I live in a smaller town, so I’m thinking we will make an appointment to do this at our local office next month. We both have online accounts, and it is interesting to see that the numbers increase a small amount every month you delay. But, he is ready. I am younger and would file on his higher earnings, eventually, but I’m okay with going “early.”

If I’m reading things correctly, our minor child also can receive benefits as long as she is in secondary school no matter when she turns 18.