Ask Larry

When Should I Apply For My Benefits?

Today is April 5, 2021. I'll be 70 years old in August 2021. If I apply this month, when will I receive my first check? Should I wait another couple of months? When should I apply for my Social Security benefits?

Hi. If you apply now you could choose to start your benefits effective with any month from October 2000 to August 2021. If you were born on any day from August 2nd 1951 through September 1st 1951, you'd want to choose August 2021 as the month to start your Social Security retirement benefits assuming that you want to receive your maximum age 70 rate. Social Security pays benefits a month behind, though, so if you choose to start your benefits effective with August your first payment would be scheduled for payment in September.

Best, Jerry

Apr 6 2021 - 6:16am
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