IF that is the case, you will be happy to know you can cash in for your benefits by filling out the online retirement application.
This application typically will take around 15 minutes to complete. It is straight-forward and easy to complete. You can fill out the application from the comfort of your own house. You do not have to head on down to your local Social Security office and have an appointment with a representative to get this process started.
You can fill out the application online and then a representative will contact you either by mail or by telephone, if they need any further information to complete your application.
Of course, you think it is that easy. Well it is. But if you have any questions prior to filling out the application, here is everything you will need to know.
Who can Apply for Social Security Retirement Benefits Online in Nevada?
You will be eligible to apply for your own retirement benefits or for the retirement benefits of a spouse if you qualify from the following:
- Must be a minimum of 61 years and 8 months of age
- Not receiving Social Security benefits
- Have not applied for your retirement benefits
- Want your benefits to come in no later than 4 months from today
Can I Apply for Medicare Too?
Even if you already are getting Medicare, you can still apply using the online application for your Social Security Retirement benefits.
However, if you do not have Medicare, but would like to apply for it at the same time as your Social Security Retirement benefits, you will need to turn 65 within 3 months of applying. You will be permitted to use this online application to apply for both Medicare and Social Security Retirement benefits.
Note: You can opt-in to use this online application for strictly Medicare, if you do not want to get your Social Security Retirement benefits just yet as well.
Need more information on Medicare? Follow this link.
What to Know Prior to Applying for Social Security Retirement Benefits?
Prior to applying for your Social Security Retirement Benefits, there will be some things you will need to know such as the following:
Full Retirement Age
Did you know that the full retirement age keeps on increasing?
The full retirement age is also known as the normal retirement age. For many years the full retirement age was 65 years old.
However, now if you were born in the year of 1938 and later, the full retirement age is currently capped at 67. As of right now, people who were born in 1959 and after retirement age is around 67 while the people who were born prior to 1959 has a lower retirement age.
It was all thanks to the 1983 Social Security Amendment that consisted of a provision that raised the full retirement age for people who were born after 1938. Congress stated that there were many improvements when it came to the health of older people, which resulted in increasing life expectancy.
Pro-Tip: If your birthday is January 1st, you should always look at the previous year for your full retirement age.
When Can I Start Receiving Benefits?
You will be eligible for benefits between the age of 62 to 70.
The Social Security Administration used to consider 65 to be full retirement age for the retirement benefit. Benefits amounts were calculated on the assumption that most workers will stop working full time and will claim retirement benefits when they reach age 65.
Now that people are generally living longer, Social Security’s rules about what is considered full retirement age have changed. Age 65 is still considered full retirement age for anyone born before 1938. But full retirement age gradually increases from age 65 to 67 for people born in 1938 or later. For anyone born after 1960, the full retirement age is 67.
You may choose to begin receiving retirement benefits at any time after you reach age 62. However, there are incentives to wait until your “full retirement age,” which is between 65 and 67, depending on the year of your birth. The amount of your benefits will be permanently reduced by a certain percentage if you begin claiming them before you reach full retirement age.
|1938||65 years, 2 months|
|1939||65 years, 4 months|
|1940||65 years, 6 months|
|1941||65 years, 8 months|
|1942||65 years, 10 months|
|1943 – 1954||66 years|
|1955||66 years, 2 months|
|1957||66 years, 6 months|
|1958||66 years, 8 months|
|1959||66 years, 10 months|
|1960 or later||67 years|
Can I Get Benefits Prior to my Full Retirement Age?
Of course, you can get your Social Security Retirement benefits prior to your full retirement age. If you choose this route, your monthly benefits will not be as much as they would be if you would have waited until your full retirement age. These benefits will be reduced.
To plan on when you should fully retire, you will want to take a look at this chart. It will help you decide when you should retire and what the reduce benefits will be.
Can I Still Work and Get Social Security Retirement Benefits?
Indeed. You can still work and receive your Social Security Retirement benefits. This could help you get a higher benefit in your near future as well.
Every year, the Social Security office will go over everyone who is working and receiving their Social Security benefits. If you earned more in the last year than you did in the previous years, this will be used to determine your retirement benefits. The Social Security office will then recalculate your retirement benefits amount. Which will ultimately lead you to earn more from your Social Security Retirement benefits than the previous year.
Delayed Retirement Credits
If you delay receiving your Social Security Retirement benefits, you can receive credits. However, the credits will stop after you hit the age of 70. But, if you want to know what type of delayed retirement credits, you can receive, you will want to refer to the following chart.
With the healthcare technology progressing, the average life expectancy age keeps on rising. Studies are showing that at least one in three people who are 65 years of age will live at least until they are 90 or older.
Social Security benefits are here for you to be on for the remainder of your life. So, you will need to choose wisely when it comes to picking the appropriate retirement age based on your situation to ensure you have more than enough income coming in to keep you afloat.
Pro-Tip: Use the Retirement Calculator. It will show you what your benefits will be at various ages prior to you filling out the Social Security Retirement benefits application.
How do I Complete the Social Security Retirement Benefits Application?
Filling out the application is very easy. You will want to click on the link above (located in the introduction). Once you click on that link, you will need to either sign up or create my Social Security account. You will be prompted with questions about you, your family, and your job.
After you complete that, you will then start on the application. You will either have the option to complete the application in one sitting or you can save application for later, if you get stuck on a question or need to locate the proper documents to answer said question.
What Documents Do I Need to Apply for Social Security Retirement Benefits?
You will need a few certain documents when applying for the Social Security Retirement benefits such as the following:
- Your Social Security Card
- Original Copy of your Birth Certificate
- Copy of your W-2 or self-employment tax return (if applicable)
- Proof you’re a U.S. Citizen (if you were not born in the United States)
- Copy of your Military Service Papers (if applicable)