When Can I Draw Social Security?

Millions of people rely on Social Security as a means of retirement income. Before you do anything, you need to answer this question: when can I draw Social Security? If you don’t know the answer you may end up making a bad decision that effects you during retirement.

Steps for Drawing on Social Security

Are you ready to draw on Social Security? The following steps will help you answer this question while also getting started.

1. Determine your eligibility. If you are 62 years or age or older, you are eligible for retirement benefits. However, you will receive more money if you wait until age 65 or older.

2. Apply for Social Security benefits on the Social Security website. Other options include visiting your local Social Security Office or calling on the phone.

The Social Security Administration (SSA) suggests applying for benefits three months before your birthday. This will help avoid any unnecessary delays.

In most cases, applying for Social Security is simple. The SSA already has most of the information needed including your Social Security number and income information.

3. Provide any information that is requested. As noted above, the SSA usually has all the information they need. That being said, proof of citizenship and/or a photo ID may be required.

What if I am applying for SSI disability? In this case, you will need to provide more detailed information. To start, you must be unable to perform your prior job responsibilities for a minimum period of 12 months. Additionally, you are required to provide medical documentation.

Although you can begin to draw Social Security at age 62, this will result in reduced benefits. To receive full Social Security benefits, hold out until you reach full retirement age.

Now that you know when you can draw Social Security, it should be easier for you to plan your retirement.

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