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Author: billjam Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19380  
Subject: Social Security Question Date: 12/13/2005 1:04 PM
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If a person turns 62 in mid-August and decides to begin taking social security, when do they receive the first check? September or Ocotber? All I could find at ssa.gov was that they'd tell me when I sign up. I imagine someone on this board could speak from recent experience.
Thanks.
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 10238 of 19380
Subject: Re: Social Security Question Date: 12/13/2005 1:40 PM
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If a person turns 62 in mid-August and decides to begin taking social security, when do they receive the first check? September or Ocotber?

I can't offer a cite for this, just my experience when my mother died on the last day of the month. Your benefits begin the first day of the month in which you retire, resulting in a full payment the beginning (I think they pay on the 3rd) of the next month. In your example, September. You get no benefit for the month of your death, which is why we had to repay my mother's benefit that was already on its way to her bank when she died.

Phil

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Author: ImAGolfer Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 10239 of 19380
Subject: Re: Social Security Question Date: 12/13/2005 1:46 PM
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If a person turns 62 in mid-August and decides to begin taking social security, when do they receive the first check? September or Ocotber?

Hi BillJam. I applied for Social Security on the 4th of October of this year. My birthday is close to the end of January. I was always told I should apply 3 months prior to my birthday to insure prompt payment.

Guess what? Your birth month doesn't count. You start getting paid the following month. Those checks are not mailed out until the 3rd week of March. Long story short from the date of application to actual payment is approximately 6 months.

So in your case I would guesstimate an October payment.

Goodluck,

ImAGolfer (retired '03)

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Author: tedhimself Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 10240 of 19380
Subject: Re: Social Security Question Date: 12/13/2005 3:49 PM
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If a person turns 62 in mid-August and decides to begin taking social security, when do they receive the first check? September or Ocotber? All I could find at ssa.gov was that they'd tell me when I sign up. I imagine someone on this board could speak from recent experience.
Thanks.


Social security pays on Wednesday. Which Wednesday depends on the date of your birth. For example, my wife's birthday is the 9th and she gets hers on the second Wednesday of each month. My birthday is on the 24th of the month and I get mine on the fourth Wednesday.

My Birthday is November 24, I got my first SS check on January 22 of the following year. From this, I would assume that you will get your first check in October, if you have signed up early enough.
Ted


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Author: wcfenton Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 10241 of 19380
Subject: Re: Social Security Question Date: 12/13/2005 4:13 PM
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If a person turns 62 in mid-August and decides to begin taking social security, when do they receive the first check? September or Ocotber? All I could find at ssa.gov was that they'd tell me when I sign up. I imagine someone on this board could speak from recent experience.
Thanks.

----------------

Keep in mind that I certainly do not represent myself as an expert on Social Security (actually...I don't think that there is such an animal). However, I'll give it a shot based on what I know and have read (I started drawing S.S. last year at age 62).

Short answer is the Third Wednesday of October.

Social Security says that if you were born on the first or second day of a month that your birth month will be your first month of entitlement. Otherwise, the first month of entitlement will be the month following your birth month. Benefits are paid during the month following the month due. For new recipients, payments are on a Wednesday. Which Wednesday depends upon your birthday.

If your birthday is between the first and tenth day of the month, your check will be deposited the Second Wednesday of each month; between the eleventh and twentieth day of the month, on the Third Wednesday of each month; and between the twenty-first and thirty-first, the Fourth Wednesday of each month.

So, again, based on your birthday being in the middle of August, your first full month of entitlement would be September and you should therefore expect to see your first check deposited on the Third Wednesday of October.

http://www.socialsecurity.gov/pubs/2005calendar.htm

http://www.socialsecurity.gov/pubs/2006calendar.htm

You will have to wait for the Social Security Administration to give you your official date and check amount.

I hope this was helpful as far as planning your retirement is concerned.

Regards,
Bill



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Author: billjam Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 10242 of 19380
Subject: Re: Social Security Question Date: 12/13/2005 6:21 PM
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Thanks everyone. I thought it probably would be October before I saw any money, and the replies seem to confirm that.


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