Top Social Security information resources
Posted on 24 September 2008
Permanent URL of this article: http://retirementrevised.com/money/top-social-security-information-resources
The oldest Boomers (age 62) may be eligible to take Social Security benefits, but it’s almost never a good idea to do so. Most Americans will come out ahead by waiting to take the benefit as long as they can. From an actuarial perspective, increased longevity and incentives baked into the system encouraging delayed benefits mean most of us will come out far ahead by waiting until full retirement age of 67 or beyond.
Here’s a collection of the best resources, tools and articles I’ve found to help you navigate the Social Security maze. Also, be sure to check the archive of my articles on Social Security here at RetirementRevised.
Calculators and Tables
Retirement estimator - A majority of Americans file for Social Security benefits as soon as they become eligible at age 62. In many cases, you’ll receive higher lifetime benefits by waiting at least until the Normal Retirement Age (NRA) of 66 or higher. The Social Security Administration has built a useful online Retirement Estimator that allows you to project your future benefits assuming different retirement ages. The tool is free and easy to use–you just plug in a few personal facts and your Social Security number; the site digs through your actual lifetime earning history and calculates your monthly benefit assuming different retirement ages. It’s a useful decision-making tool and takes less than five minutes to use.
Social Security Administration tables. The Social Security Administration also publishes tables showing how much your benefits will be reduced, with varying monthly benefit assumptions. The SSA’s overall Social Security planning section is here.
Social Security retirement planner. Detailed information about your Social Security retirement benefits from the Social Security Administration.
USA Today calculator. USA Today published a week-long series called “Turning 62: The Retirement Boom Begins.” The package included one of the niftiest online calculators for Social Security benefits that I’ve seen anywhere.
Social Security Basics
Social Security overview. From AARP and the National Endowment for Financial Education.
Yahoo! Guide. Overview of Social Security basics.
What you’ll get and when - primer from Kiplinger.com
Maximize your benefits - when and how to start collecting.
Social Security wiki - Wikipedia page on Social Security
Books discussing Social Security - listing at Google.
Applying for Benefits
Apply in person - the Social Security Administration’s office locator to find the nearest facility.
Apply online - The SSA also is streamlining its online benefits procedure this fall.
Receiving benefits
Benefits payment calendar - at SSA.gov.
Direct Express - The federal government is rolling out a major campaign to expand delivery of federal benefits via debit cards. It’s an effort to help recipients of Social Security and Supplemental Security Income who don’t have bank accounts and hence don’t benefit from the convenience of electronic fund transfer. Nationally, about 4 million benefit recipients still receive paper checks, resulting in plenty of lost checks and delays.
Social Security Disability Insurance
People who are disabled in ways that prevent them from working may be eligible for SSDI benefits under Social Security–but qualifying is difficult and there is usually a long backlog of cases waiting for approval. Here are resources you’ll want to check:
Social Security Administration - home page describing the SSDI program, benefits and application process.
Books discussing SSDI - listing at Google.
News & Politics
Social Security - general news updates on Social Security.
Presidential race - latest news about the presidential candidates stands on Social Security.
Social Security and women - Blog updates at WISER Women - Women’s Institute for a Secure Retirement.
Suggest a link!
Have you found a great web site, book or article on Social Security others might find helpful? Leave a comment at the bottom of this page and I’ll look into adding it to the guide.
