Filing for Social Security: What to Do Before You Hit Submit
Deciding when to claim Social Security is an important retirement decision. Once you have made that decision, there is another step that deserves some attention: actually filing for your benefits.
The application itself is not particularly complicated, but this is not something we recommend rushing through. A wrong start date, an error in your earnings history, or a misunderstanding about which benefit you are claiming can create headaches at exactly the time you are trying to make retirement simpler.
A little preparation can make the process much easier.
Start With the Decision, Not the Application
Before you file, make sure you know exactly what you are applying for and when you want your benefits to begin.
That sounds obvious, but Social Security can involve your own retirement benefit, spousal benefits, or survivor benefits depending on your circumstances. Your claiming date also matters because the age at which you begin benefits affects the amount you receive.
Ideally, the decision about when to claim Social Security has already been made as part of your retirement income plan. The application should simply put that decision into motion.
This is also a good time to confirm how you want taxes handled. Social Security allows federal income tax to be withheld from your benefits. Whether that makes sense depends on the rest of your income and your tax situation.
Check Your Earnings Record
Before submitting an application, log into your “my Social Security” account and review your earnings history.
Your Social Security benefit is calculated using your earnings record, so you want to make sure the information the Social Security Administration has on file looks correct.
If something appears wrong, it is better to address it before you start receiving benefits rather than discovering the problem after your first payment arrives.
Gather What You Need
Having the basic information in front of you can make the application process much smoother.
You will want your Social Security number and identification, along with the routing and account numbers for the bank account where you want your benefits deposited.
Depending on your circumstances, you may also need records related to a marriage, divorce, or military service.
Gathering everything before you begin is easier than stopping halfway through to hunt for an old document.
Applying for Benefits
You can apply for Social Security benefits through SSA.gov. If you prefer, you can also schedule a phone or in person appointment with the Social Security Administration.
Before submitting the application, review everything carefully. Confirm that the benefit type and start date match the strategy you intended to implement, and make sure the rest of the information is accurate.
This is one of those situations where an extra five minutes reviewing the application is time well spent.
Don’t Assume You’re Finished Once You Apply
After submitting your application, keep an eye on both your mail and your online Social Security account.
The Social Security Administration may contact you for additional information. When your first payment arrives, check the amount and confirm that the direct deposit went to the correct account.
Your first payment may arrive approximately one month after your selected start date, so the timing may be different from what you expect.
Keep copies of your application, benefit estimates, tax withholding elections, and any correspondence with the Social Security Administration.
You may never need them. If you do, you will be glad you kept them.
Be Careful About Social Security Scams
Social Security is also a favorite subject for scammers.
Be cautious about unsolicited phone calls, emails, or text messages claiming to be from the Social Security Administration.
If something seems suspicious, don't use a link or phone number provided in an unexpected message. Go directly to SSA.gov or access your “my Social Security” account yourself.
There is rarely a good reason to rush when someone unexpectedly contacts you about your money or benefits.
Social Security Is Part of the Bigger Picture
The application may be administrative, but the decision behind it is financial planning.
Once Social Security begins, your retirement cash flow changes. Your tax situation may change. The amount you need to withdraw from investment accounts may change.
That is why we want Social Security coordinated with the rest of the retirement plan rather than treated as a separate decision.
When should you claim? Which benefit should you claim? How should Social Security fit with your investment withdrawals and other retirement income? What should you withhold for taxes?
Those questions are much more important than simply figuring out which boxes to check on the application.
Filing is the last step. The planning should come first.
If you are approaching Social Security and would like to talk about how your claiming decision fits into your retirement income and tax strategy, schedule a complimentary 15-minute call.
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This material was written in collaboration with artificial intelligence (ChatGPT) and derived from sources believed to be correct.
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