by David F. Chermol, Esquire

When you start approaching retirement age for Social Security purposes, you have some decisions to make. If you are continuing to work and are getting by in a comfortable manner, you are probably better off filing late for Social Security retirement benefits. Although some working people, like my mother, think life is short and decide to take the benefit now. Both are reasonable options. However, if you are approaching retirement age and are not working, you have an important decision to make.

Generally your options are to file for retirement early, at normal retirement age, or late. If you file for retirement early your benefits will be significantly reduced for the rest of your life. If you file at the normal retirement age, you will receive the full retirement benefit you were expecting. If you file late, you will receive a higher monthly premium, but you will have to forego a few years worth of benefits.

There is a fourth option that very few people consider and that is filing for Social Security disability. Social Security disability is essentially getting your retirement benefits early. If you are not working, you need to seriously consider this option. If you are found disabled, your benefits will not be reduced as they would be if you retired early. In addition, you can become eligible for Medicare much earlier. Finally, by being declared disabled, the years you did not work will not be counted against you in determining your primary insurance amount. In other words, getting declared disabled could raise your monthly retirement benefit. So there are serious benefits in applying for disability that you need to consider.

The next question that undoubtedly comes to mind is: Could I be considered disabled? The reality is that if you are age 55 or over, are not working, and have any noteworthy medical condition (even potentially one you have had your whole life), you may be able to get benefits. In order, to properly present your case in such a scenario, you really need to consult with an attorney who focuses in this area of the law. He or she will need to work with you to fill out the paperwork from Social Security exactly right. In addition, your lawyer will need to make sure to get a supporting medical opinion that identifies the necessary and accurate functional limitations.

The point is that when you have stopped working and are close to your retirement years, you may have more options than you think. Retiring early is one option, but you should seriously consider filing for Social Security disability. If you decide to do so, please call my office. You can see our advertisement on this page.

© Copyright 2008, David. F. Chermol, Esquire. Property of Chermol & Fishman, LLC.