THE WHOLE SYSTEM IS RIGGED! Why should we be penalized for working at all?? I took early retirement at 62 also and lost THOUSANDS because I worked part-time. The government STEALS our money after we paid in our whole lives!!! The earnings limit is THEFT plain and simple!!

Thank you everyone for the helpful information! I've learned so much about how this works. To summarize what I understand now: 1. Solo 401k contributions CAN reduce my countable income for the SS earnings test 2. As a self-employed person, SSA looks at my net profit after business deductions 3. I need to be careful with documentation and might want to confirm with SSA directly 4. This strategy is legal and specifically helpful for self-employed early retirees I'm going to set up a solo 401k and aim to keep my countable income under the limit. This will let me grow my online business without worrying about benefit reductions. Really appreciate all the guidance!

For the exact delayed retirement credit information, go to: https://www.ssa.gov/benefits/retirement/planner/delayret.html The formula is straightforward: 2/3 of 1% per month, which equals 8% per year if you delay the entire year. For example: - If FRA is 67 and you start at 68: 8% increase - If FRA is 67 and you start at 69: 16% increase - If FRA is 67 and you start at 70: 24% increase Regarding COLAs: The SSA applies them to your benefit calculation even before you start collecting. Your Primary Insurance Amount (PIA) gets adjusted for each COLA that occurs after you reach 62, regardless of when you actually claim benefits. This is a major advantage of delaying that people often overlook: you get the delayed credits PLUS all the COLAs compounded on your higher base amount.

Thanks everyone for the helpful information! I found the chart on the SSA website using the link provided. We've decided that my wife will probably delay until 70 since we can afford to wait, and now I understand that she'll benefit from all the COLAs along the way too. I'm definitely going to double-check their calculations when the time comes, based on what some of you have experienced with errors. I've bookmarked that Claimyr service too in case we run into trouble reaching someone at SSA. Appreciate all your advice!

Here's how to interpret your earnings record to determine your quarters of coverage (QCs): 1. For 2025, you need $1,840 in earnings for one QC 2. For older years, the amount was lower ($1,640 in 2023, $1,510 in 2022, etc.) 3. You can earn a maximum of 4 QCs per year 4. You need 40 QCs (10 years of work) for retirement benefits If you worked consistently for 10+ years with earnings above the minimum thresholds, you likely have your 40 quarters. The exact quarter count isn't displayed on ssa.gov, but an SSA representative can tell you your current count if you call. For retirement benefits planning, knowing you've met the 40 QC threshold is usually sufficient.

The quarter counts used to be included in the annual Social Security statements that were mailed out, but they've been moving everything online and somehow left that detail out of the portal. One option is to request an official Social Security Statement by completing Form SSA-7004 (Request for Social Security Statement), which sometimes includes quarter information. But honestly, the fastest way is calling SSA directly if you can get through.

Guys I'm still confused... I thought DAC was different from SSDI?? My sister gets a check that says DAC on it not SSDI. Why is this so complicated!!!!

Thank you everyone for the helpful information! I checked with my son and he only receives DAC benefits, not SSI. Based on all your advice, I think I'll look into setting up a POD (payable on death) designation instead of a joint account, just to be safe. I'm also going to learn more about ABLE accounts since that sounds like it could be really helpful too. It's such a relief to know that SSDI/DAC doesn't have asset limits, but I still want to make sure we set things up in the best way possible for his long-term security. Really appreciate all of you taking the time to share your knowledge!

My aunt just went through this! She ended up going to the local office and waiting from 6am to be one of the first people seen that day. She said it was worth it because the person explained some complicated rule about her ex-husband's benefits she was eligible for that she never would have known about otherwise. The website doesn't know your whole life story!

The whole system is designed to CONFUSE US!! My neighbor worked at SSA for 30 years before retiring and she told me they DELIBERATELY make the rules complicated and the phone lines understaffed so people give up and take less than they deserve. It's all about cutting costs and tricking seniors!!! The online system is the WORST because it just gives you the bare minimum info.

heres a completely different question but i've always wondered - why do people even bother with spousal benefits these days? most people worked and have their own SS benefits now, right? is it really worth all this trouble?

Thank you everyone for all the helpful information! I feel much clearer on what to do now. I'll wait until after my husband receives his first payment in 3 months, then call SSA to make sure my spousal benefits are being processed correctly. I'll have our marriage certificate ready just in case they need it. The deemed filing information was particularly helpful - I didn't realize that would automatically tie everything together.

quick question - does anyone know if child support arrears affect this? my ex still owed like $12k when he died but i never pursued it after he passed

I just wanted to update everyone! I called SSA this morning and after being on hold for about 2 hours, I finally spoke with someone who confirmed I'm eligible for survivor benefits! My ex-husband's benefit was significantly higher than mine, so even with the reduction for taking it early, I'll get about $850 more per month than I'm currently receiving. They're processing my application now and said it will take 4-6 weeks. I'm also considering the withdrawal option to maximize my benefits long-term, but I need to think about whether I can afford to repay the three payments I've received so far. Thank you all SO MUCH for your help! I would never have known about this without this community.

make sure u get everything in writing from the irs about your payment plan. i had a verbal agreement and they still garnished me. had to spend months fixing it.

I just realized I didn't fully answer your question earlier. The IRS and SSA systems aren't automatically connected for this purpose. Your payment plan is registered in the IRS system, which puts a hold on automated collection actions. You don't need to notify SSA about your tax situation. Just keep making your IRS payments on time.

my aunt tried to do this switch last year and they messed everthing up and she didnt get ANY money for 2 months!!!!! had to borrow from family to pay rent. be careful and make sure u follow up!!!!!

congratulations! glad it went smooth for you. my mom did this same thing last year (survivor to own benefits at 70) and she had no problems either. i think people mostly post when things go wrong not when they go right lol

did anyone else notice their direct deposit was different this month even tho the ssa website didnt update?? my brothers ss payment actually went UP this month even tho his account still shows the old amount online!! maybe check your bank account not just the ssa website??

Just to give you some peace of mind - the delayed retirement credits WILL be retroactive to January 2025 even if the processing takes until February or March. Your payment will be adjusted accordingly, and you won't lose any money because of SSA's processing timeline. If your adjusted payment doesn't appear by your February payment (which would arrive in early March), then I would definitely reach out to SSA. But the vast majority of DRC calculations are completed by then.