And don't forget you can still work while collecting SS.I am 65 and 8 months - I rounded it off. I will be 66 in August.
Max is $3K and change. I will get about $2500/mo by last statement I got from SSA - if I wait for FRA. Before the stimulus benes were announced, I was considering applying for SSI now.
That would mean you wouldn't get it until you file taxes next year. That's not how this is going down. The fed wants the money in and out of your hands ASAP.There's a good question, what are the Feds gonna do if a check is uncashed? (we all know they're just gonna keep the money and move it around )
Edit. Looks like the $1,200 and $500 per "qualifying child under 16" is being treated as a tax credit for the year 2020.
Yes, absolutely. I had planned to start taking SSI in August while still working so I could save up some extra cash for my land purchase. Now I am not sure what I can do if I sell my current property. I won't have enough to buy the land I want and build a shop on it. But I don't want to sit on this land forever - SSI will barely pay the mortgage by itself and I would have to tap into my retirement funds for food/etc.And don't forget you can still work while collecting SS.
I used to feel much the same way. Going through the last recession changed my thinking. I’ve payed a lot of money into the system over the years, and I’ve never milked the system. When I found myself out of work in ‘09 along with about half the state it seemed, and no jobs available, my pride took a hit.If I get one I'm burning it. I don't take help from the government and I'm not a sell-out.
I am thinking apply for medicare and SSI after April one. There is some clause/policy that if you retire before FRA, but do it in the year you turn FRA, and you are not employed (or something like that) then you pay less or no penalty on the earned income you have up to that point? That fits my current situation. Even if I get a job again, they would only withhold $1 for every $3 I earn, but then it gets credited back to my account.
I need to go talk to SSI, but I think the office isn't accepting appointments right now.