Just wanted to jump in as someone who's been navigating this same decision! I'm 66 and 8 months, so hitting FRA in a few months, and I've been weighing whether to keep working my $42k/year job. After reading through everyone's experiences here, I think I have a clearer picture now. I checked my SSA earnings record like Savannah suggested, and I have about 8 years of really low earnings from when I was in school and raising young kids. So it sounds like I might see better increases than average by replacing those years with current earnings. The health insurance factor is huge for me too - my employer plan is really good and way cheaper than what I'd pay for Medicare supplements. I'm leaning toward working at least 2 more years now, especially after seeing the real numbers people have shared. It's so helpful to hear from folks who've actually been through this rather than just trying to figure it out from SSA's confusing website! Thanks everyone for sharing your experiences.

As someone who just discovered this community, I've been reading through all these responses and they're incredibly helpful! I'm about 18 months away from my FRA and earning around $38k annually. What strikes me most is how much the individual earnings history matters - it's not a one-size-fits-all situation. I just created my SSA account and found I have about 12 years of very low earnings (under $10k) from when I was working part-time jobs and taking care of family. Based on what everyone's shared here, it sounds like I might be in a good position to see decent increases by working a few more years past FRA. The health insurance considerations are eye-opening too - I hadn't factored that into my calculations at all. Really appreciate everyone sharing their real experiences and actual dollar amounts. It's so much more valuable than the generic advice you find elsewhere!

This is such a valuable discussion! As someone approaching a similar decision point, I wanted to add another perspective that might be helpful. Beyond the pure financial calculations, consider your quality of life goals and what you want to do with those extra years of good health. If you're planning to work until 70 anyway and enjoy your job, waiting for maximum benefits makes a lot of sense - especially given your family longevity and the survivor benefit implications for your spouse. But if you're feeling any burnout or have travel/hobby goals you'd like to pursue, having that extra $2,950/month starting at FRA could give you more flexibility to transition to part-time work or consulting. Also, don't forget about Medicare enrollment timing. Since you're still on employer coverage, make sure you understand how that interacts with Medicare Part B enrollment to avoid any late penalties. The policy uncertainty point that Nia raised is really thought-provoking too. While we can't predict exactly what changes might come, higher earners are often the first targets for means testing or increased taxation on benefits.

Great question about tax planning, Oliver! When I started taking SS at FRA while still working full-time, I definitely had to adjust my strategy. Here's what worked for me: 1. I increased my federal withholding at work by about $200/month to cover the additional tax on SS benefits 2. Since about 85% of my SS was taxable at my income level, I calculated that roughly $2,500 of my monthly $2,800 benefit would be subject to tax 3. I also started making small quarterly estimated payments (about $300) to avoid any underpayment penalties The key is running the numbers early in the year when you start collecting. The IRS has a worksheet in Publication 915 that helps calculate the taxable portion of SS benefits based on your "combined income" (AGI + nontaxable interest + 50% of SS benefits). One unexpected benefit: having that steady SS income actually made it easier to max out my 401(k) contributions in my final working years since I had other income to cover living expenses. That extra tax-deferred savings helped offset some of the tax hit from the SS benefits. I'd definitely recommend working with a tax professional the first year you start collecting while working - the interaction between earned income, SS benefits, and tax brackets can get complicated quickly.

Just wanted to add my experience as someone who works in benefits administration (though not SSA). When you file for your retirement benefits, make sure to explicitly ask the representative to review which parent's record would be more advantageous for your children. Don't assume they'll automatically check this - you need to specifically request it. Also, bring a copy of your wife's award letter showing her current benefit amount and the kids' auxiliary amounts. This will help the SSA worker calculate the comparison more quickly. One last tip: if you're filing online, there should be a section asking about dependents - make sure to indicate that your children are already receiving benefits on another record so the system flags this for manual review.

I went through this exact situation two years ago! My kids were getting benefits on my record when I retired early at 62, but when my husband filed at his full retirement age, his benefit was substantially higher. The switch was definitely possible, but here's what I learned: 1) You MUST specifically request the comparison when your husband files - it's not automatic, 2) Bring documentation of the current benefits the kids are receiving, 3) The processing took about 6-8 weeks in our case, but the kids continued getting their original benefits during the transition with no gap. The key thing that helped us was calling ahead to the SSA office and explaining the situation when we scheduled the appointment. They were able to have someone there who was familiar with these types of switches. Also, don't be surprised if you get different answers from different representatives - we had to speak with a supervisor to get consistent information. Good luck with your application next month!

I've been through this exact situation! My advice is to also check if you qualify for any state assistance programs for your son's medical expenses since those benefits will stop when he turns 18. Many states have programs that can help bridge the gap between when SS benefits end and when kids might qualify for other assistance. Also, make sure to get everything in writing from SSA - don't rely on phone conversations alone. I learned this the hard way when they gave me incorrect information about my daughter's benefits and I had to fight to get them corrected later. One more thing to consider: if you're planning to work while receiving early retirement benefits, be aware of the earnings test. If you earn more than the annual limit, they'll reduce your benefits temporarily. This also affects your children's benefits.

For 2025, the earnings limit is $23,400 annually if you're under full retirement age. The earnings test applies to YOUR individual benefit - if you earn over this limit, they reduce $1 of your benefit for every $2 you earn above the threshold. Here's the important part: when your benefit gets reduced due to the earnings test, your children's benefits are also proportionally reduced since theirs are based on your benefit amount. So if your benefit gets cut by 20% due to earnings, your kids' benefits also get cut by 20%. However, this reduction is temporary! Once you reach full retirement age, they'll recalculate your benefit and give you credit for the months when benefits were withheld due to earnings. Your benefit will be permanently increased to account for this. Unfortunately, your children won't get this "payback" since they'll likely have aged out by then. So if you're planning to do consulting work, you'll want to be very careful about staying under that $23,400 limit, or the family could see a significant reduction in total monthly income right when you need it most for medical expenses.

Congratulations on making a well-informed decision! Your situation really highlights how important it is to look at the whole picture rather than just the monthly benefit amounts. The earnings test can be such a trap for people who are still working - I've seen too many folks get surprised by those overpayment letters. Since you're waiting until June, you might want to start gathering your documents now so you're ready to apply right when you hit FRA. Having your tax returns, W-2s, and other paperwork organized ahead of time will make the process smoother. And definitely keep that Claimyr tip in mind when you're ready to call - dealing with SSA phone lines is nobody's favorite activity! Four months will fly by, and then you'll have that peace of mind knowing you're getting your full benefit without any earnings test headaches. Good luck with those home repairs when the time comes!

Welcome to the community, Maya! You've gotten some excellent advice here. I went through a very similar decision process last year and also chose to wait until FRA - best financial decision I made. One additional tip: since you're planning to wait until June, consider setting up a my Social Security account online at ssa.gov if you haven't already. You can verify your earnings record is accurate and get updated benefit estimates. Sometimes there are errors in their records that can affect your benefit amount, and it's much easier to correct them before you apply. Also, don't forget that once you reach FRA, you can earn as much as you want without any benefit reduction - so if you decide to pick up extra hours or take on additional work after June, it won't affect your Social Security at all. That flexibility alone is worth the wait!