There's another option nobody's mentioned - instead of withdrawing, you could just SUSPEND your benefits once you reach your Full Retirement Age. That way you don't have to repay anything you've already received, and your future benefits will increase by 8% per year until age 70. The catch is you have to wait until your FRA (probably 67 for you) to do this.

make sure u got all ur benefit payment info ready when u submit the form. i forgot to include one payment they made to me and they sent the whole thing back. delayed everything by like 3 weeks

One other important consideration: Once you file for benefits, there's a limit to how much you can earn from working before they start reducing your benefits (the earnings test). For 2025, if you're under FRA for the full year, they deduct $1 for every $2 you earn above $23,110. This stops once you reach your FRA. So if you're still working or planning to work, make sure to factor this into your decision. Many people are surprised when their benefits get reduced because of earnings.

ALSO!!! don't forget bout TAXES!! up to 85% of ur SS benefits can be taxable depending on ur other income. we didnt realize this and ended up owing a bunch at tax time that first year 😠

I remember when the rules changed in 2015 - it was a HUGE deal for retirement planners! Many of our clients were counting on using these creative filing strategies. The "restricted application" (what you're describing) was a great way to maximize lifetime benefits. Unfortunately, Congress eliminated these options for anyone born after 1/1/1954. If your own benefit at age 70 would be significantly higher than your ex-spouse benefit, the best strategy is probably waiting as long as possible to file. Each year you delay from FRA to 70 adds 8% to your monthly benefit - guaranteed growth you can't find anywhere else!

Thanks everyone for your helpful comments! I'm definitely understanding things better now, even if I'm disappointed that I can't use the strategy I heard about. I'm going to schedule an appointment with SSA to get specific numbers for my situation so I can compare taking benefits at 62 vs waiting till 70. I've got some savings to live on, so waiting might be better in the long run, especially since I'm in good health and my parents both lived into their 90s.

Here's what I recommend based on your situation: 1. For your wife: If she'll be $15,000 over the annual limit, SSA will withhold approximately $7,500 in benefits ($1 for every $2 over). Depending on her monthly benefit amount, this could mean several months of complete withholding before she receives payments. She could either: - Start benefits in April as planned, understanding initial payments may be withheld - Delay until May or even June to reduce the amount over the limit 2. For you: Your plan to start in March sounds optimal given your earnings will be under the annual limit. 3. When applying: Yes, be extremely clear about estimated earnings. There's a specific form (SSA-131) for reporting estimated earnings that you'll complete during the application process. 4. Documentation: Keep detailed records of when you stop working and final paychecks. If vacation payout is substantial, have documentation ready to explain that it's a one-time payment. Remember that once you reach FRA, the earnings test no longer applies, and any benefits withheld previously will gradually be returned through a recalculation of your monthly benefit.

Yes, the recalculation after FRA works like this: SSA tracks how many months of benefits were completely or partially withheld due to the earnings test. Once you reach FRA, they'll recalculate your monthly benefit as if you had claimed later. For example, if your wife has 8 months of benefits fully withheld between claiming at 65 and reaching her FRA, when she reaches FRA, her monthly benefit will be increased as if she had claimed 8 months later than she actually did. This adjustment is permanent and continues for the rest of her life. This is why the earnings test isn't actually a "penalty" in the long run - it's more like a forced delay of benefits that you eventually recoup after FRA. Regarding your decision to have your wife delay until May - that sounds like a reasonable approach that balances immediate income needs with minimizing withholding complications.

One thing I want to add - while you're considered FRA for the entire month of your birthday (except if born on the 1st), remember that your first payment will arrive the FOLLOWING month. So if you select October as your start month, you'll receive that payment in November. Also, if you're still working, once you reach FRA, the earnings test no longer applies. You can earn any amount without affecting your benefits.

did u finish ur application yet? curious what u decided

Let me offer some clarity here based on current SSA rules. There are TWO different situations being discussed: 1. SPOUSAL BENEFITS while you're both alive: Your wife's spousal benefit will be based on your PIA (full retirement age amount) regardless of when you claim. So claiming early won't reduce her spousal benefit as long as SHE claims at her FRA. 2. SURVIVOR BENEFITS if you pass away: If you claim early and take a reduced benefit, and then pass away, your wife's survivor benefit would generally be based on your actual (reduced) benefit amount. This is why many financial advisors recommend that the higher-earning spouse delay claiming as long as possible, especially if there's a significant age gap or health concerns.

u should really make an appointment at ur local ss office. better to get the info direct from them than from randos on the internet lol

One additional option to consider is whether your husband might qualify for SSI (Supplemental Security Income) in addition to his Social Security retirement. It's possible to receive both if his early retirement benefit is low enough and you meet the resource/asset limits. Regarding the SSDI application, since he has cancer, he may qualify for a Compassionate Allowance as another commenter mentioned. This can significantly expedite the process. Make sure to specifically mention this when applying and have his oncologist provide detailed documentation about how his condition limits his ability to work. The SSDI application process typically takes 3-5 months for initial decisions, but Compassionate Allowance cases can move faster. If approved, there's also a 5-month waiting period before benefits begin, though they would be retroactive to the application date minus those 5 months.

Just throwing this out there - have u checked if ur state offers paid family leave? Some states like CA, NY, NJ have programs where u can get paid while taking care of a family member. Its not a ton of money but its something. Also check if his cancer treatment center has social workers - they often know about resources that regular people dont know exist.

I don't think this is correct advice. Your sister can't just "pause" her benefits whenever she wants. Once you start collecting, you're locked in. At least that's what happened with my brother-in-law. He tried to pause his at 67 and they told him it was impossible.

I just wanted to thank everyone for their helpful responses. My sister and I talked it over, and based on your advice, she's decided to wait the extra 4 months until she reaches her FRA before filing for her own benefits. That way, she'll have maximum flexibility if her ex-husband passes away. I'm also going to help her document everything (their marriage certificate, divorce decree, etc.) so she has it ready if she needs to file for survivor benefits. This whole situation is emotionally difficult, but having a clear financial plan helps reduce some of the stress.

One more important factor to consider: if your husband passes away before you, you would be eligible for survivor benefits. As a widow, you could receive up to 100% of what he was receiving (or entitled to receive). If you've taken your retirement early but then later qualify for survivor benefits, you can actually switch to the higher survivor benefit while your reduced retirement benefit stops. This is one of the few exceptions to the usual claiming rules. So even if you do decide to take your retirement early, it doesn't necessarily mean you'll be stuck with a reduced amount for your entire life if you outlive your husband. This is especially relevant since women typically outlive men by several years.

btw has anyone noticed how the COLA this year is a joke?? 3.2% when groceries go up like 20%??? not related to your question sorry just mad about it lol

My buddy at work says his mom did this exact thing and she gets way more money now than her friends who didn't know about this strategy. Smart thinking!

One final point I want to clarify - you mentioned switching at 65, but you might want to consider waiting until your Full Retirement Age (probably 67) or even age 70 to switch to your own benefit if you can afford to do so. Your own retirement benefit continues to grow until age 70, increasing approximately 8% per year past your FRA. This could significantly increase your lifetime benefits if you're in good health and expect to live into your 80s or beyond.