I KNOW YOU DON'T WANT TO HEAR THIS but waiting until 70 would give you 24% MORE than filing at 67 (your FRA). That's a PERMANENT increase for life! I filed at 67 and now at 75 I'm watching my friend who waited collect WAY MORE every month. It's hard to work longer but the math doesn't lie.

I'm in a somewhat similar situation - I'm 52 with a 12-year-old who has autism. After doing a ton of research, here's what I've learned that might help: The Childhood Disability Benefits (CDB) that others mentioned could be huge for your family. Your child can potentially get up to 50% of YOUR full retirement benefit amount once you file, and these benefits can continue for life if the disability started before age 22. Here's the key thing I learned: if you file at 65 (getting 86.7% of your full benefit), your child would still get benefits based on your FULL retirement age amount, not your reduced amount. But there's a family maximum cap, so getting professional advice on timing is critical. One strategy to consider: work part-time after 65 but keep earnings under that $22,450 limit to avoid the earnings test penalty. You mentioned burnout - maybe reducing hours instead of full retirement could work? Also, definitely look into whether your state has a Medicaid waiver program for your child. This could help with healthcare costs and services that regular insurance doesn't cover. The SSA website has a retirement estimator that shows benefits at different ages - definitely worth checking your specific numbers. And yes, call SSA directly about the childhood disability benefits. It's complex but potentially life-changing for your family's financial security.

One thing I haven't seen mentioned yet is the tax implications of withdrawing your Social Security application. When you withdraw and repay all benefits within that 12-month window, you can also amend your tax returns for any years where you reported that Social Security income. This could result in tax refunds if you paid taxes on those benefits. Also, regarding the earnings test calculation - it's based on your annual earnings, not monthly. So if you start collecting in January but don't begin the high-paying job until April, SSA will look at your total earnings for the entire year. This might affect whether withdrawal vs. letting benefits be withheld is the better financial choice. Definitely recommend getting a personalized Social Security statement from ssa.gov to see your exact benefit amounts at different claiming ages before making this decision!

This is such a comprehensive discussion with great real-world examples! As someone currently navigating Social Security decisions myself, I wanted to add one more consideration that might be helpful for your specific timeline. Since you mentioned the job opportunity might come 3-4 months after you start collecting benefits, you'll want to be very strategic about timing if you decide to file at 62. The 12-month withdrawal window is calculated from your "entitlement date" (usually the month you first become eligible to receive benefits), not from when you actually receive your first payment. So if you file in January with benefits starting February, your 12-month window closes in January of the following year - regardless of when you actually received payments. This means if the job comes through in May or June, you'd still have plenty of time to withdraw if needed. Also, regarding the Form SSA-521 that others mentioned - you can actually download it from ssa.gov ahead of time and have it filled out (except for dates) just in case. That way if the job opportunity does materialize, you're ready to submit immediately rather than scrambling to figure out the paperwork. The stories shared here about successful withdrawals are really encouraging. It seems like while the process has some complexity, it's definitely manageable if you stay organized and understand the timeline!

Thank you all for the helpful advice! I've scheduled a meeting with our accountant for next week to discuss restructuring our payroll. It sounds like it's definitely worth getting my wife on the books properly for these remaining years. I appreciate everyone sharing their experiences and knowledge - this has been really eye-opening for us.

Great to hear you're taking action! One additional thing to consider when meeting with your accountant - ask about the timing of when to start the new payroll structure. Since you're already 67 and ready to file for your Social Security, you might want to coordinate the timing of your claim with when you begin paying your wife. Also, make sure to discuss the self-employment tax implications if you're currently structured as a sole proprietorship vs. other business entity types. The way you split income can affect both your current tax liability and her future Social Security benefits. Good luck with the meeting - sounds like you're on the right track to optimize both of your retirement situations!

My sister was told theres a 960 hour limit for the year which is like 80 hours a month. So confusing why everyone gets different information!!!

As someone who's been navigating this exact situation, I can confirm what others have said - there's definitely NO hourly limit for Social Security retirement benefits! I think the confusion comes from the fact that different programs (like SSDI) have different rules, and people mix them up. One thing I'd add that hasn't been mentioned much: since you're doing 1099 work, make sure you understand the difference between "gross earnings" and "net earnings from self-employment" for Social Security purposes. The SSA uses your net earnings (after legitimate business deductions) when calculating whether you've exceeded the annual limit. Also, keep in mind that as a contractor, you might have irregular income months. Some months you might earn $1,200, others $2,400. What matters is your total for the year (or monthly test in your first year as others mentioned). Just make sure you're tracking everything carefully and consider setting up a separate business account to keep your contractor income and expenses organized. Good luck with the new position! It sounds like a great opportunity and you should be fine as long as you stay mindful of the earnings limits.

Thank you everyone for all the helpful information! I've decided to accept the position at the school. Knowing that my benefits won't be reduced is a huge relief, and the possibility of slightly increasing my future benefits is an added bonus. I'll keep an eye on the tax situation, but that's manageable. Really appreciate all your insights!

That's wonderful news, Amelia! You're making a great decision. As a retired teacher myself, I can tell you that going back to help with the teacher shortage is incredibly rewarding - you'll be making such a difference for those students and your fellow educators. Plus, the financial peace of mind knowing your SS benefits are secure makes it even better. The school district is lucky to have someone with your experience stepping up during this challenging time. Best of luck with your return to the classroom!