As someone who recently went through this process myself, I can confirm that the online application does clearly separate the application date from your chosen benefit start date. The key is to take your time on each screen and read carefully - there will be a section specifically asking "When do you want your retirement benefits to begin?" where you can select January 2025. Don't let the October application date worry you at all - that's just administrative. I'd also recommend taking screenshots of the confirmation page showing your January 2025 start date for your records. One additional tip: after you submit, you should receive an email confirmation within 24-48 hours. If you don't get that confirmation email, definitely follow up to make sure your application went through properly. The peace of mind is worth it when you're dealing with something this important!

I just want to echo what everyone else has said - you're absolutely doing the right thing by being so careful about this! I work as a retirement counselor and see people make mistakes with their Social Security applications all the time. The good news is that the online system has gotten much better at making the benefit start date selection clear. When you get to that screen, it will literally ask "What month and year do you want your retirement benefits to start?" and you'll see a dropdown menu where you can select January 2025. The system won't let you proceed without making this selection, so there's less chance of accidentally missing it. Also, after you submit, print out or save a PDF of your entire application summary - not just the confirmation page. This gives you a complete record of everything you submitted, including both your benefit start date and entitlement date. If there are ever any discrepancies later, having this documentation will help resolve them quickly.

I'm new to this community but wanted to share my perspective as someone who recently went through a similar situation. I'm a freelance photographer and had my worst income year in 2023, which caused my Social Security estimate to drop significantly on my annual statement. What really helped me understand the situation was learning that the SSA projections are essentially "worst case scenarios" - they assume your current low earnings will continue indefinitely, which obviously isn't realistic for those of us in project-based work. One thing I discovered that might help you is that you can request a personalized benefit estimate directly from SSA where you provide your own future earnings projections instead of letting their computer make assumptions. You can call them and explain that 2024 was an anomaly due to market conditions and ask them to calculate estimates based on your historical average or expected recovery income. Also, since you mentioned you're 61, you still have 6+ years before full retirement age where you could potentially replace that low 2024 year with higher earnings as the market recovers. Real estate always bounces back eventually! The most important thing to remember is that these are just estimates, not your locked-in benefit amount. Your actual benefit will be calculated when you file based on your complete earnings history, not these forward-looking projections that assume the worst.

I'm new to this community but wanted to share something that might help ease your concerns. I'm a 1099 contractor in the tech industry and went through a very similar panic when my Social Security estimate dropped after a rough 2022. What I learned after researching extensively is that the SSA's automated projections are notoriously pessimistic for people with variable income. Here's what really opened my eyes: I discovered that you can actually see exactly which years are being used in your benefit calculation by looking at your detailed earnings record on the SSA website. In my case, my low-income year was replacing a zero-earnings year from when I was in college, which actually HELPED my calculation rather than hurt it. But the projection algorithm didn't account for this properly. The other thing that gave me peace of mind was learning about the "bend points" in the Social Security formula. The benefit calculation is progressive, meaning lower income levels are replaced at higher rates (90% vs 32% vs 15%). So even if one year does impact your average, the effect is cushioned by this progressive structure. Since you're in real estate, you probably know better than anyone that 2024 was an exceptionally brutal year for the industry. I'd bet money that your income will rebound as interest rates stabilize and inventory loosens up. Don't let the SSA's pessimistic computer projections drive major life decisions - focus on the fundamentals of your business and let the benefits calculation take care of itself.

This has been such an informative thread! As someone approaching a similar decision, I wanted to share a resource that might help with the planning process. The SSA has a "Retirement Estimator" tool on their website that lets you input different claiming ages and earnings scenarios to see how they affect your benefits. You can model claiming at 64 vs waiting until FRA, and even factor in continued earnings. It's been really helpful for me to visualize the trade-offs between getting benefits earlier (but reduced) versus waiting for the full amount. The tool also shows you the break-even point - basically how long you'd need to live to make waiting worthwhile financially. Of course, everyone's situation is different and there are factors beyond just the math (like needing the income now, health considerations, etc.), but it's nice to have the numbers to work with when making such an important decision.

This thread has been incredibly helpful for understanding the complexities of claiming early while continuing to work! I'm in a similar situation - turning 62 next year and considering my options. One thing I haven't seen mentioned yet is the impact of claiming early on spousal benefits. If you're married, your spouse's potential spousal benefit is based on YOUR full retirement age benefit amount, not the reduced amount you'd get by claiming at 64. So claiming early doesn't just affect your own benefits - it could impact your spouse's options too. Also, if you're the higher earner, your claiming decision affects the survivor benefit your spouse would receive. Just another layer to consider when weighing the decision between claiming early versus waiting for FRA. The break-even analysis is important, but for married couples, you really need to look at the household's total lifetime benefits, not just your individual benefit stream.

My uncles neighbor kept working til he was 70 and his ss check went up by almost $1000 a month from his first estimate at 62!!!! they say wait if u can afford too

Just wanted to share my own experience with this! I had a similar situation - earned my highest salary at age 64 (about $85K compared to my usual $45-50K range). When I applied for benefits at my FRA, SSA included those earnings automatically in my calculation. My benefit statement online updated about 6 months after I filed my taxes, and I could see my estimated benefit had increased by about $60/month. It's not a huge jump due to the bend points others mentioned, but every bit helps! The key thing is that SSA does track all your earnings, even after 60, so those higher wages definitely aren't wasted effort.

Just wanted to add my experience as someone who works at a local SSA field office (though I can't give official advice here). What I see daily is that survivor benefit calculations are one of the most misunderstood aspects of Social Security. Your wife's financial advisor is unfortunately misinformed - this happens more often than you'd think with non-SSA professionals. To be crystal clear: she would receive your CURRENT monthly benefit amount ($4,500) as her survivor benefit, assuming she waits until her FRA to claim. The delayed retirement credits you earned by waiting until 70 DO transfer to survivor benefits - that's the whole point of delaying! If she claims at 64, yes there would be a reduction (roughly 14-15% based on her being 3 years early), but she'd still get more than your original FRA amount. The key is having SSA run the actual numbers for your specific situation rather than relying on general estimates. One tip: when she does go to SSA, bring a copy of your most recent Social Security statement and hers. It helps the representative give more accurate projections.

I've been following this discussion with great interest since I'm in a similar situation with my own retirement planning. One thing I haven't seen mentioned yet is how Medicare premiums might affect the survivor benefit amount. When my neighbor became a widow last year, she was surprised to learn that her Medicare Part B premium would be deducted from her survivor benefit, and since her late husband had been in a higher income bracket, she ended up paying IRMAA (Income Related Monthly Adjustment Amount) surcharges too. Has anyone else dealt with this? I'm wondering if the Medicare premium deductions could significantly impact the actual net amount your wife would receive, especially given your higher benefit amount of $4,500. It might be worth asking SSA about the Medicare implications when she schedules that appointment everyone's recommending.