When will I get my first social security check?

Many people are confused about when they will receive their first social security check after applying for early retirement at age 62 and rightly so! In some cases you may have to wait for more than 2 months after your turn 62 before you will receive your first social security check, depending on what day of the month your birthday falls on

When will I receive my first social security checkThe first thing to understand is that turning 62 doesn’t make you immediately eligible.  According to the Social Security Administration, you have to be 62 for one FULL month before you become eligible to receive benefits. In other words, you have to be 62 and one month old before you are eligible to receive your benefit.  Social Security benefits are then paid the month after they are due and according to the Social Security payment schedule.

For example, if your birthday falls on October 10th, 2016 you will be eligible for social benefits on November 10th, 2016 when you are 62 years and one month old.   According to the Social Security Administrations website, Social Security benefits for a given month are paid the following month they are due,  so in this example, paid in December.  But that doesn’t mean December 10th.  Social Security has a payment schedule as to which day of the month you will get paid depending on what date your birthday falls.

  • 1st – 10th of the month – You’ll be paid on the second Wednesday of each month.
  • 11th – 20th of the month – You’ll be paid on the Third Wednesday of each month.
  • 21st – 31st – You’ll be paid on the Fourth Wednesday of each month.

It’s a good idea to take a look at the Schedule of Social Security Benefits Payments to get a good idea of when you will receive your first check and on what date of each month.  Below you will find links to the 2016 and 2017 schedules.

Schedule Of Social Security Benefit Payments for 2016

Schedule of Social Security Benefit Payments for 2017

New Rules for Social Security – Where to Find the Facts

There’s been a lot of hub around the internet this past week regarding President Obama signing the Bipartisan Budget Act of 2015 that limited two very popular Social Security claiming strategies known as “restricted application” and “file and suspend.

Both the “restricted application” and “file and suspend” strategies have been part of many married couples and divorced individuals retirement plans and many people have used them through-out the years to boost their payouts. So what if you’re approaching retirement and had planned on using one of these strategies?   It turns out that some retirees can be grandfathered in and some may have to revisit their retirement strategies for future income planning.

The following compilation of up-to-date social security facts and strategies from around the Web that will help clarify these new rules and help in determining which options, if any, are still open to you so you can make plans accordingly:

If you’re married, there are now 3 sets of rules you need to be aware of when planning for social security.

File and Suspend and Restricted application – who can do it, how it works and what changes.

The File and Suspend rule changes do have certain grandfathering provisions, especially for those nearing age 62 or age 66.  It is thus crucial that you understand the state of your Social Security benefits because immediate action could be required.

With the new changes to social security, you’ll need to do some careful retirement planning, quickly.  Here’s what you should know to use these retirement strategies while you can.

Claiming Social Security is still a strategic decision as the elimination of these two claiming strategies removes some options for couples, but it doesn’t minimize the importance of deciding when to take Social Security.

Advisers say revisions for clients will need to account for income shortfalls as they rethink retirement plans amid Social Security changes.

The benefits of delaying Social Security may be starting to get through to the public, though there is still a long way to go.  So when are People Claiming Social Security ?