How Soon Before Your 65th Birthday Should You Apply for Social Security?

According to the Social Security Administration, you can apply for retirement benefits up to four months before you want them to begin. Understanding how soon before your 65th birthday you should apply for Social Security is key to maximizing your financial future.

Quick Summary

You can apply for Social Security retirement benefits up to four months before you want payments to start. While age 65 is significant for Medicare, your full retirement age for Social Security is likely higher.

Key Points

• Application Window: You can apply for Social Security retirement benefits up to four months before you want your payments to start.

• Full Retirement Age (FRA): For those born in 1960 or later, FRA is 67, not 65. Claiming benefits before your FRA results in a permanent reduction.

• Early vs. Late Claiming: Starting benefits at age 62 can reduce your monthly payment by up to 30%, while delaying until age 70 can increase it by 24% or more over your FRA amount.

• Medicare Is Separate: You should enroll in Medicare three months before your 65th birthday, regardless of when you decide to claim Social Security benefits, to avoid penalties.

• How to Apply: The easiest way to apply is online through the official Social Security Administration website.

• Benefit Payments: Social Security payments are made in the month after they are due. For example, your benefit for June is paid in July.

Navigating Your Social Security Application Timeline

Deciding when to apply for Social Security is one of the most significant decisions you'll make for your retirement. While many people associate age 65 with retirement, the rules for Social Security are more nuanced. The Social Security Administration (SSA) allows you to file for retirement benefits up to four months before you wish for them to start. For example, if you want your benefits to begin the month you turn 65, you can apply as early as four months prior. This window is designed to ensure there is adequate time to process your application without a delay in receiving your first payment.

It is crucial to understand the distinction between applying for Social Security and Medicare. You should typically sign up for Medicare within the three months leading up to your 65th birthday, even if you don't plan to start your retirement benefits then. Delaying Medicare enrollment can lead to late enrollment penalties.

Understanding Full Retirement Age (FRA)

The concept of "Full Retirement Age" (FRA) is central to your Social Security benefits. While you can start receiving benefits as early as age 62, doing so results in a permanently reduced monthly payment. Your FRA is the age at which you are entitled to 100% of your earned benefit. This age is not 65 for most people today; it varies based on your birth year. For anyone born in 1960 or later, the full retirement age is 67. For those born between 1955 and 1959, the FRA gradually increases from 66 and 2 months to 66 and 10 months.

Here’s a quick breakdown:

• Born 1958: FRA is 66 and 8 months.
• Born 1959: FRA is 66 and 10 months.
• Born 1960 or later: FRA is 67.

Choosing to receive benefits before your FRA leads to a reduction. For instance, if your FRA is 67 and you start benefits at age 62, your monthly check will be about 30% lower than if you had waited.

The Impact of Claiming at Different Ages

Your decision on when to claim benefits between age 62 and 70 has a lifelong impact on your monthly income. Waiting past your FRA to claim benefits earns you delayed retirement credits, increasing your monthly payment by about 8% for each year you wait, up until age 70. Claiming at age 70 results in the maximum possible monthly benefit.

To help you visualize the difference, consider the following comparison table for an individual with a Full Retirement Age of 67.

Claiming Age	Percentage of Full Benefit Received	Impact on Monthly Payment
Age 62	~70%	Permanently reduced benefit.
Age 65	~86.7%	Reduced benefit, but higher than at 62.
Age 67 (FRA)	100%	Full entitlement received.
Age 70	124%	Maximum benefit due to delayed credits.

How to Apply for Your Benefits

When you are ready to apply, the most convenient method is through the Social Security Administration's official website. The online application is straightforward and can be completed from home.

Here are the general steps:

1. Gather Documents: You will need your Social Security number, birth certificate, and recent tax returns. If applying for spousal benefits, you may need your marriage certificate.
2. Go Online: Visit the official SSA website. Be sure the URL begins with https://www.ssa.gov to avoid fraudulent sites. You can create a my Social Security account to check your earnings record and get benefit estimates.
3. Complete the Application: The online application takes you through a series of questions about your work history and personal information. You can save your progress and return later if needed.
4. Choose Your Start Date: You will select the month you want your benefits to begin, keeping in mind the four-month advance application window.

If you are unable to apply online, you can do so by phone or by scheduling an appointment at a local Social Security office.

Conclusion: Strategic Timing is Everything

Ultimately, how soon before your 65th birthday you should apply for Social Security depends on your personal financial situation, health, and retirement goals. The key is to apply up to four months before you want payments to begin. However, the more critical decision is selecting the right age to start benefits. Weigh the pros and cons of claiming early for immediate income versus delaying for a larger monthly benefit for the rest of your life. For authoritative information and to begin your application, you can visit the Social Security Administration's website. Making an informed choice will set the stage for a more secure and comfortable retirement.

Frequently Asked Questions

What is the earliest I can apply for Social Security retirement benefits?

You must be at least 61 years and 9 months old to submit your application. You can apply up to four months before you want your benefits to begin, with the earliest eligibility for receiving benefits starting at age 62.

What happens if I apply for Social Security at age 65?

Applying at age 65 means you will receive a reduced benefit because it is before the full retirement age (which is 67 for those born in 1960 or later). Your benefit will be permanently lower than if you waited until your full retirement age.

Is my full retirement age 65?

For most people, no. The full retirement age was 65 for those born in 1937 or earlier. For individuals born in 1960 or later, the full retirement age is 67. It gradually increases for those born between those years.

Do I have to apply for Medicare and Social Security at the same time?

No. It is recommended to sign up for Medicare in the three-month period before you turn 65 to avoid penalties, even if you plan to delay receiving Social Security benefits.

Can I work while receiving Social Security benefits?

Yes, but if you are under your full retirement age and earn over a certain annual limit, your benefits will be temporarily reduced. Once you reach full retirement age, your benefits will no longer be reduced, no matter how much you earn.

How much will my benefit be reduced if I claim at 62?

If your full retirement age is 67, claiming benefits at age 62 will result in a permanent reduction of about 30% of your full benefit amount.

How can I find out my estimated Social Security benefit?

You can create a personal 'my Social Security' account on the official SSA website. Your online statement will provide personalized estimates of your retirement benefits at different claiming ages (62, full retirement age, and 70).