Many of the things that we used to utilize snail mail for are now done online. In the big picture it can indeed save a lot of money to share information electronically, and it can be more convenient as well.
You may remember receiving annual statements from the Social Security Administration in paper form. In keeping with the trend toward streamlining things, the statements are no longer being mailed to Americans 25 years of age and up. Only those who have reached the age of 60 are getting the paper statements in the mail.
These statements contain very important information because they let you know how much you can expect from Social Security when you do in fact apply.
You have the option of applying when you are as young as 62, but your benefit would be reduced as a result. Full retirement age is between 66 and 67 for people who are not yet receiving their benefit.
You also have the option of delaying your application until you are as old as 70, and you would then receive an increased benefit when you start to draw Social Security payments.
The good news is that you can obtain your Social Security statement on the Social Security Administration website after registering. This allows you to stay abreast of where you stand while the government saves money, so it is a win-win for all involved.
Optimal use of Social Security is usually going to be an important part of any holistic plan for aging. To devise such a plan, take action right now to set up an informative consultation with a seasoned, savvy San Jose retirement planning attorney.