QUESTION
iam 67 as of December 2020, (born 1953) am applying for ss benefits, currently my monthly benefit would be 3,203 @month. starting Feb 2021.
Asked on Mar 14th, 2021 on Social Security - New York
More details to this question:
when I spoke to a lady at the ss office. they offered me 7 months of back benefits from August 2020 till Feb. 2021. at my 2019 benefit rate which was 2,913 @ month, One check for 20,391.00 , they will send me. Then my monthly benefit would be 3105.00 @ month until the end of 2021. In 2022 January my monthly would be 3223.00 here on plus cola.( cost of living increases) . my question is , why are they offering this to me , is it good or bad decision to take the 7 months of benefits , is there something iam missing here. ? why are they being so generous ?
1 ANSWER
Social Security Disability Attorney serving Franklin, TN
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They are offering it because it is your choice when to start receiving benefits. There is no way to know which offer is better unless you know how long you are going to live. You should consult a financial planner for additional guidance.
Answered on Mar 15th, 2021 at 5:15 AM