Are You Ready To Get Social Security Retirement Benefits Or Should You Pursue Disability Benefits?
A common question for someone who has developed a disability and is approaching retirement age is what type of benefits they should apply for. The answer for most people depends on a variety of individual factors. If you are even thinking about this question, the time is now to consult with a Social Security Disability (SSD) attorney who can help you crunch numbers and determine the most appropriate way forward in your case.
What will happen if you apply for SSD as you are approaching retirement age? How will that impact your retirement income picture? Is it worth it to try for SSD or should you just wait to get Social Security (SS) retirement benefits on schedule? Get a clear understanding and personalized direction by consulting with an experienced SSD attorney. KBAR Legal Services, LLP, provides clarity and advocacy for people throughout Indiana. From our office in Carmel, we serve clients throughout the Indianapolis region and beyond.
More About The Big Question Of Disability Versus Retirement
It is common for people with physical ailments who are in their early 60s to wonder about whether to take early retirement or apply for disability benefits. Will long-term disability and/or SSD benefit amounts be higher or lower than retirement income on the usual schedule? A simple but realistic answer is that it depends on a person’s overall financial and health picture.
You may know that you can get SS retirement benefits beginning at age 62. However, you may also know that your monthly SS retirement income will be less if you start getting benefits before you reach your full retirement age, likely between 66 and 67, depending on what year you were born. Will it pay off or hurt you overall to go ahead and retire at age 62, considering that you have a disability that may qualify you for SSD even before that time? Get legal advice to quiet the noise of wondering and questioning that can rob you of sleep.
If Your Spouse Has Died
For people whose spouses have died, another important consideration may be their eligibility for Social Security survivors’ benefits, which may begin at age 60. As SSA states, “Widows or widowers benefits based on age can start any time between age 60 and full retirement age …[but] benefits [starting] at an earlier age…are reduced a fraction of a percent for each month before full retirement age.”
You may, indeed, have multiple factors to consider if you qualify for more than one of the following:
- SSD benefits
- Widow or widower survivor benefits
- SS retirement income beginning at age 62
- SS retirement income beginning at your full retirement age (probably between 66 and 67)
A knowledgeable attorney can help you predict how likely your SSD claim is to be approved, and help you weigh all other factors to arrive at a course of action in your best interests.