Applying for Social Security Benefits

How Much Will You Receive

Social Security benefits provide approximately 40 percent of your earnings to live on after retirement. This is why it is important to determine how much money you will receive in your check each month so you can prepare yourself financially.

Here are some of the factors you need to consider when thinking about how Social Security benefits will help you.

• How long you worked

You will need to have worked for at least 10 years to be eligible for benefits. If you began working but then quit but decided to go back, the actual time that you worked factors into the 10 years.

• When you'd like to receive benefits

You can start benefits at age 62, but the amount you receive will be significantly lower than if you wait until you turn 65.

• How much you paid to Social Security in taxes

The more you made while you worked, the more you would have paid in taxes, which means you receive more in your benefits.

• If you worked past retirement

If you plan to hold a job past the age of 65, the amount you receive will slowly increase over time.

When Should You Apply

You can apply three months before you turn 62 years old or later. It usually takes approximately three months to go through the process, so keep this in mind when you start filling out the paperwork.

If you would like to apply for Medicare, you can do this once you reach 65. You don't need to receive Social Security to receive Medicare health coverage.

If you are a widow or widower, you can receive some benefits at the age of 60. You are entitled to 100 percent once you reach full retirement age of 65.

What You Need When Applying for Social Security Benefits

According to the Social Security Administration, you need to present the following documentation when you start the process of applying for Social Security benefits.

• Birth certificate (original or certified copy)
• Social Security card
• Last year's W2 tax form
• Proof of citizenship or alien status if born outside of the United States
• Bank information for direct deposit
• If you were in the military, discharge papers are required

How to Apply

Internet Application

You can easily apply online at the SSA website. The site presents you with questions on their secure website so you can simply navigate through each screen to fill out the entire application. You will need to mail in your documentation when completing the application on the Internet.

Keep in mind, you can only fill out the application online if:

• You are only seeking benefits for yourself.
• You are not applying for Medicare.
• You or your spouse did not work for the Railroad Retirement Board.
• You are not applying for disability.
• You have worked in the last 10 years.
• You haven't applied in the last 60 days.

Calling Social Security Administration

If you would rather have someone help you or feel more comfortable applying for Social Security benefits with a paper application, call Social Security Administration at 1-800-772-1213. You'll receive an application by mail, or someone will make an appointment for you to visit your local SSA office to meet with a representative.

Meeting with a Representative

If you decide to meet with a representative, have all of your documentation on hand so the representative can make copies of it. The representative will ask you questions face-to-face and submit your answers through the SSA system. This can be helpful if you are unsure on how to answer some of the questions about your past work history. The representative may also be able to give you a status on your claim after submitting your application.