If an existing medical condition has already affected your ability to work, and you still have a few years to go before full retirement in Charlotte, North Carolina, you have two options to choose from: retiring early or applying for social security disability benefits.
But how do you know which option is better for you? Deciding on retiring early has its benefits, in the same way as applying for disability benefits. Ultimately, you will have to choose the option that gives you more advantages, even for the long-term.
What Are the Age Requirements for Retiring Early in Charlotte, North Carolina?
Prior to the Social Security Amendments of 1983, a working individual may retire typically at age 65. After amendments have been passed in Congress, there has been a steady increase in the age by which people born in 1938 or later can retire, and this includes residents of Charlotte, North Carolina.
The SSA or Social Security Agency provides a nifty calculator from where you may compute your full retirement age. Currently, the maximum age by which a working individual may retire is at 67, especially if his or her birth year falls after 1959.
Thus, if you were born in 1937 and you want to get your full retirement benefits at the maximum age possible, you may retire at age 65. If, however, you were born between 1943 and 1945, the age from when you can start receiving full benefits is at 66.
If you consider retiring early in Charlotte, North Carolina, the earliest age from when you can start receiving your benefits is at 62. You need to understand, moreover, that early retirement may not entitle you to the full percentage of your retirement benefits.
Is Retiring Early in Charlotte, North Carolina the Same as Applying for Disability Benefits?
Although both early retirement and the social security disability application can be done prior to full retirement age, they are not the same. Early retirement means that you start receiving your benefits at an earlier age, although this is usually not in the full amount. Depending on the year that you were born in, you may receive only 75% or 80% of your full retirement amount.
On the other hand, applying for disability benefits means applying for social security disability insurance at the SSA. This means that you have an existing medical condition that has impeded your capability to continue working.
Prior to applying for disability benefits, you will need to check if your condition medically equates to the Listing of Impairments posted by the SSA. In addition to this, the SSA will begin a process that evaluates your qualification for disability insurance coverage. The process usually includes evaluating your current work, medical records, medical history, and capacity for doing other work besides your present job.
Should I Hire a Lawyer When Applying for Disability Benefits in Charlotte, North Carolina?
If you still have not been able to decide whether to retire early or to seek social security disability coverage, you may want to speak with a social security disability lawyer in Charlotte, North Carolina.
There are instances where retiring early can secure better benefits for the long term, while some cases necessitate a disability insurance coverage due to the severity of a medical condition. A committed lawyer can help you steer yourself toward a better decision when it comes to retirement or social insurance matters.
After applying for disability benefits, your application may be rejected by the SSA due to one reason or other. This is the point where you will need the counsel and representation of a lawyer. It is still possible for your application to be reconsidered, but you will have to compile all necessary documents, abide by set deadlines, and possibly attend a hearing with an administrative law judge.
Whether you’re considering applying for disability benefits or retiring early, the important thing is to have the knowledge required for you to arrive at a wise decision. With this, a trusted lawyer in Charlotte, North Carolina can help.
Get in Touch with a Social Security Disability Lawyer When Retiring Early in Charlotte, North Carolina
Whether you are planning on retiring early or applying for disability benefits, we can help. Oftentimes, the decision to retire early or to file for social security disability coverage can be confusing. If you are currently at this point, we can provide you with valuable assistance. Talk to one of our lawyers here at Ted A. Greve & Associates so we can start looking into your retirement or disability coverage options in Charlotte, North Carolina at the soonest possible time.