One more important thing to understand: The earnings limit increases in the year you reach Full Retirement Age, and then disappears completely once you hit FRA. For example, if your FRA is 66 and 6 months, and you turn that age in 2025, the earnings limit in those months before your birthday is much higher (around $56,520 for 2024, and will be higher for 2025), and they only deduct $1 for every $3 over the limit (not $1 for every $2). Then once you reach your FRA month, there's no earnings limit at all - you can earn any amount without reduction. So depending on how close you are to FRA, you might want to factor this into your work planning.

I went through something very similar when I started collecting at 62 and then picked up some consulting work. The whole earnings test thing is really poorly explained by SSA - they make it sound like you're being "penalized" when really it's more like they're just collecting back an overpayment and will give you credit later. What helped me was thinking of it this way: when you collect early, SSA calculates your monthly benefit assuming you won't work much. If you do work and exceed the limit, they temporarily reduce your payments to account for that, but then when you reach full retirement age, they recalculate as if those "withheld" months never happened - so you get a permanently higher monthly benefit. It's actually not a bad deal in the long run, just really stressful when you're not expecting it! The key is just making sure you track your earnings carefully so you can budget for any reductions if you go over the limit again.

Based on everything in this discussion, here's a summary that might help you decide: 1. The business sale proceeds won't count toward the earnings test 2. With your assets, you don't immediately need the income 3. Waiting until FRA gives you about $850 more per month for life 4. Your wife's teacher pension may complicate your overall strategy due to WEP/GPO 5. Either way, you'll need to plan for taxes on your SS benefits due to your investment income If I were in your position with substantial assets and no immediate need for cash flow, I'd seriously consider waiting until FRA for the higher benefit, especially considering potential longevity and survivor benefits.

Smart move getting specialized advice! One additional consideration I didn't see mentioned - if you do decide to wait until FRA, make sure you understand the Medicare enrollment timeline. You'll want to sign up for Medicare Part A and B during your Initial Enrollment Period (3 months before turning 65 through 3 months after), even if you're not taking Social Security yet. Since you mentioned having health insurance through the business sale for 3 years, you should be covered, but there can be late enrollment penalties if you miss the Medicare window. Medicare enrollment is separate from Social Security claiming, so don't let one decision accidentally affect the other. Also, consider doing some Roth conversions during these pre-Medicare years while you have more control over your tax situation - it could help reduce future required minimum distributions and potentially lower the taxation of your Social Security benefits down the road.

I'm in a similar situation and just wanted to add something that might help with planning. When they withhold benefits for excess earnings, they typically send you a notice about 60 days before they start withholding. This gives you some time to prepare financially. Also, one thing I learned the hard way - if you think you might go over the limit, you can actually request voluntary withholding from your benefits throughout the year instead of having them take larger chunks later. You can call SSA and ask them to temporarily stop your benefits if you know you're going to exceed the limit. Some people find this easier to manage than having surprise reductions. For your FRA year (2026), just remember that they'll use a monthly test too. So even if your total January-June earnings are under the annual limit, if you earn too much in any single month before FRA, they might still withhold benefits for that specific month. The monthly limit is usually 1/12th of the annual limit.

I'm dealing with a very similar situation right now! I'm 64 and have been collecting early benefits for about 18 months. I work part-time at a grocery store and this year I also went over the earnings limit because of unexpected overtime during our busy back-to-school season. What I learned from calling SSA (after being on hold for over 2 hours!) is that they'll send you a letter explaining exactly how much they'll withhold and when. For me, they ended up taking about half of my January and February checks to cover the overage. It was tough financially, but I managed by cutting back on some expenses those months. The part about your FRA year that gives me hope is that the earnings limit essentially goes away once you hit that milestone in July. I've been counting down the months until I reach my FRA because dealing with these earnings calculations every year is honestly exhausting. One thing my neighbor suggested was asking your employer if they can give you a heads up about potential overtime or holiday bonuses earlier in the year, so you can plan better. Some managers are willing to work with you on scheduling if you explain the Social Security situation. Hang in there - you're so close to not having to worry about this anymore! The freedom to work without penalties after FRA will be such a relief.

Congrats on retirement! Sorry about the delay tho. Sometimes these things just take time. My dad always said dealing with SS is like watching paint dry. You'll get there eventually!

I went through something very similar about 6 months ago! My application was stuck on Step 2 for almost 8 weeks while my neighbor who applied the same week got approved in less than a month. In my case, it turned out to be a combination of factors - I had worked for a federal agency early in my career AND had some high-earning years that required additional verification. The key thing that helped me was persistence with the MySocialSecurity messaging system. I sent a polite but firm message explaining my situation and asking for a status update. Within 48 hours, I got a response from a claims specialist who told me exactly what was holding up my application. It turns out they were waiting for verification from my old federal employer about my pension eligibility. Once I knew what they needed, I was able to provide additional documentation that sped things up. Don't give up - the system is frustrating but you WILL get through it!

my aunt just went thru this! if u get denied don't give up, she got denied first time then got a lawyer and won her case. her disability on her dead husbands record is like $2200/month i think

I work as a benefits counselor and wanted to add some practical advice for your situation. Since you're 56 applying for DWB, you're in a good position age-wise, but the medical evidence will be crucial. For getting benefit estimates, I've found success with this approach: Call the national number (1-800-772-1213) and specifically ask to speak with a "Technical Expert" about "Disabled Widow's Benefits calculation." Don't just ask for a general estimate - be very specific about what type of benefit you're requesting information about. Also, since your son's benefits will end when he turns 18, make sure you understand the "family maximum" rules. Right now, your family's total benefits are likely subject to a family maximum cap. When your son's benefits stop, your DWB amount won't increase to compensate - it will remain the same percentage of your husband's PIA. One more tip: Start gathering ALL your medical records now, including mental health records if applicable. The more complete your medical file, the better your chances of approval on the first try. Good luck with your consultative exam!