Important point nobody's mentioned: even if you lose some benefits due to exceeding the earnings limit before Full Retirement Age, you eventually get that money back! SSA recalculates and increases your monthly benefit when you reach FRA to account for months when benefits were withheld. Many people don't realize this - you're not permanently losing those benefits, just delaying them.

Based on all the advice above, here's what I recommend for your situation: 1. Restructure the sale to maximize capital gains treatment (goodwill, equipment, etc.) 2. Minimize any consulting or service agreements, or delay them until you reach your Full Retirement Age 3. If you do provide some consulting, keep it under the 2025 earnings limit of $22,320 if possible 4. Get the sales agreement reviewed by a professional who understands both business sales AND Social Security rules 5. Keep detailed documentation of how the sale proceeds are classified With proper planning, you should be able to receive both your business sale payments and your Social Security benefits without significant reductions.

has anyone actually gotten the FULL amount they expected once the law is fully phased in??? or are they gonna come up with some other excuse to pay us less than we deserve after paying in all these years????????

The law won't be fully phased in until 2026, so no one has received the full benefit yet. Even then, remember that the spousal benefit is still subject to the standard offset rules - it's not automatically 50% of your spouse's benefit if you have your own retirement benefit too. The WEP/GPO elimination just means your pension won't reduce your SS benefits anymore.

when my aunt died my uncle got more from her SS than his own even tho he already filed. they just switched him to the higher one automatically. maybe theyll do that for you to?

To clarify the earlier discussion about benefit amounts: If your ex-husband passes away, the survivor benefit you'd be eligible for would be subject to the RIB-LIM rule that another commenter mentioned. This rule means that your survivor benefit would be limited to the higher of: 1. The reduced benefit your ex-husband was receiving, or 2. 82.5% of his Primary Insurance Amount (PIA, which is what he would have received at his FRA) This is why it's critical to speak with SSA about your specific case - the calculations are complex and depend on multiple factors including your ex-husband's age when he claimed benefits, his PIA, and when you would claim the survivor benefits. Regarding switching benefits: If your own reduced retirement benefit is less than what your potential survivor benefit would be, SSA will automatically supplement your benefit up to the survivor amount when you apply for survivor benefits after your ex passes away.

Everyone here is mostly correct but there's a detail missing. When you turn 70, delayed retirement credits stop accruing. There's absolutely no benefit to waiting beyond that point. The only reason to wait would be if you're still working and earning enough that the earnings test would reduce your benefits, but that doesn't apply after FRA anyway. So yes, apply now to start benefits in March. And congrats on maximizing your benefit by waiting until 70!

One more tip from my experience - save/print a copy of your submission confirmation page after you complete the online application. I didn't do this and regretted it later when I needed to reference my application number. Also, set up your my Social Security account online if you haven't already - you can track your application status there.

To answer your follow-up question about the appointment: You need to be strategic with SSA. Don't ask for a \

This is brilliant and exactly what worked for me! They suddenly become MUCH more helpful when they think you're ready to file that day.

One more clarification about the SSDI to retirement conversion at 67 - while your payment amount stays the same, there's a significant benefit: once you're on retirement benefits instead of SSDI, you'll no longer be subject to medical reviews, and you can earn unlimited income without affecting your benefits (unlike SSDI which has strict work limitations). Regarding your LTD question - many policies do terminate at 65, but the exact terms depend on your specific policy. Some continue until your Social Security Full Retirement Age (67), while others have different age-based schedules. I'd recommend reviewing your policy documents or contacting your LTD provider directly.

dont forget that medicare starts at 65 even if your on SSDI already. you need to sign up for part B when you get close to 65 or youll get penalties!

I want to add some clarification about the calculation. If you die before age 70, your wife's survivor benefit would be based on what's called your "Primary Insurance Amount" (PIA) with any delayed retirement credits earned up to your death. For example: - If your monthly PIA at FRA (66) would be $2,500 - And you die at age 68 (2 years of delayed credits = 16% increase) - Her survivor benefit at her FRA would be $2,900 ($2,500 + 16%) If she claims at 60, she'd get about 71.5% of that amount, or approximately $2,073. You're making a sound decision by planning to delay until 70 as this not only maximizes your benefit but also potentially increases her survivor benefit if you pass away.

Make sure ur wife knows she CAN'T just call the main 800 number for survivor benefits!!! She has to call the local office directly but they never answer. I had better luck faxing them (yes, FAX, in 2025!) a request for them to call me back with appointment. Riduculous system.

just want 2 mention that if ur planning 4 the future (which is smart) remember that survivor benefits r only available after he passes away not while hes still alive. if u wanted benefits while he's still alive that would be spousal benefits which r different (max 50% of his) but u cant get those til FRA without reduction + earnings test. lots of people get those confused!

Since you're trying to plan ahead, here's another important consideration: If you're still working and have access to retirement accounts like 401(k)s or IRAs, maximizing those contributions during your remaining working years can provide additional security. Regarding your specific situation, with a current salary of $48k and potential survivor benefit of $2,975, here's how the earnings test would affect you if you claimed at 63: 1. 2025 earnings limit: approximately $22,320 2. Amount over the limit: $25,680 3. Benefit reduction: $12,840 (half of the amount over) So instead of receiving $2,975 monthly ($35,700 annually), you'd receive about $1,905 monthly ($22,860 annually) after the earnings test reduction. This changes once you reach FRA - no more earnings test at that point.

I think everyone is overcomplicating this. My friend just retired and he said the SS office told him once ur FRA you can claim anytime. The maximum is at 70 but u dont lose anything if ur not working those last months. Its only if ur still working and earning $$$ that it makes a difference.

One additional consideration - if you decide to keep working until May to maximize your benefit, remember you can actually file for benefits up to 4 months before you want them to start. So you could submit your application in January 2025 but specify May 2025 as your benefit start date. This gives SSA time to process everything so there's no delay in your payments once May arrives.

wait so your kids can get money too??? I never knew that! I took ss at 62 last year and didn't put my 16yo son on the form cause I didn't understand what they were asking ugh

I just want to thank everyone for their helpful responses! I'm going to list only my 7 and 9 year old children on the application. I had no idea they might qualify for benefits too - that's going to be a huge help with their school expenses. I feel much better about submitting my application now.