Congratulations on your retirement! Just wanted to add one more consideration that might be relevant to your situation. Since you mentioned depreciation recapture of about $92,000, make sure your tax preparer properly categorizes this on your return. While depreciation recapture is generally treated as capital gains (which doesn't count toward the earnings test), there can be some nuances depending on how your business was structured and whether any portion might be considered ordinary income. Also, when you do apply in January 2025, make sure to have all your 2024 tax documents ready. The SSA will want to see your final W-2 and tax return to verify your actual earned income for the earnings test calculation. Since you're planning to use Claimyr to speak with an agent, you might also ask them about the special monthly earnings test that can sometimes apply in your first year of retirement - it might provide some additional flexibility if your circumstances change. Good luck with your retirement planning!

One thing I haven't seen mentioned yet is Medicare considerations. Since you're planning to retire at 62, you won't be eligible for Medicare until 65. If your business provided health insurance, make sure you have a plan for coverage during those 3 years. You might be eligible for COBRA from your business (if it had enough employees), or you'll need to look into ACA marketplace plans. This is especially important since you're planning to delay Social Security until 2025 - you want to make sure your healthcare costs are factored into your retirement budget. The good news is that your 2024 high income year shouldn't affect Medicare premiums since those are based on income from 2 years prior.

just go in person its the only way to get anything done with these people trust me

I'm dealing with a similar situation as a newcomer to all this! My husband passed away 2 years ago and I'm approaching retirement age myself. Reading through all these responses has been incredibly helpful - I had no idea about the BRIEF report or that Congressional representatives could help expedite requests. One thing I learned from a financial advisor is that if you're really stuck on timing, you might want to consider filing a protective application. This essentially holds your place in line for benefits while you're still gathering information. You can withdraw it later if needed, but it protects your filing date. Not sure if this applies to your specific situation, but might be worth asking about when you do get through to someone at SSA. The whole system really does seem designed to make us give up! But don't let them wear you down - you deserve to have all the information you need to make the best decision for your financial future.

Just to add one more piece of advice - since your husband will be retiring at the end of March next year, you might want to create a my Social Security account online (if you haven't already) to make the application process smoother when the time comes. Also, make sure to apply for benefits about 2-3 months before he wants them to start. While he can apply right after reaching FRA in October for November benefits, giving SSA a little extra processing time is always smart. And remember that even though the earnings test won't apply, his benefits might still be subject to federal income tax if your combined income exceeds certain thresholds. Up to 85% of Social Security benefits can be taxable depending on your overall income.

Just wanted to chime in as someone who went through this exact scenario two years ago! I reached my FRA in September and filed for benefits in November while still working full-time. Got my full benefit amount with zero issues. The key thing to remember is that Social Security looks at this on a month-by-month basis once you reach FRA, not annually. So even though your husband's total 2025 earnings will be high, SSA only cares about what he earned in the months before reaching FRA in October. One small tip - when he does apply, have his recent pay stubs ready. Sometimes they ask for documentation to verify current employment status, and having everything organized can speed up the process. The whole thing was much smoother than I expected!

One more thing i learned the hard way - make sure you specificlly tell them you want your benefits to START in January. Don't just say you're applying for benefts AT age 70. If your birthday is in Jan. but you file in Dec. be VERY CLEAR about this!!!

As someone who just went through this process myself (turned 70 last month), I can confirm what others have said about the timing. I applied in November for December benefits and received my full DRCs, though it took about 2 months for the final adjustment to show up correctly. One thing I'd add that hasn't been mentioned - when you apply online or at the office, there's actually a specific question asking what month you want your benefits to BEGIN. Make sure you select January 2025, not December 2024. This prevents any confusion about whether you're trying to claim benefits before your 70th birthday. Also, keep copies of everything and take screenshots of your online application if you file that way. Having documentation makes it much easier to resolve any issues if they come up later.

As someone who just went through this process myself, I wanted to add one more perspective that might be helpful. My wife's FRA was also January (2025), and we discovered that the Social Security Administration actually recommends applying about 3 months BEFORE you want your benefits to start to avoid any processing delays. So for January 2026 benefits, definitely submit that application by October 2025 at the latest. Also, don't forget that once your husband reaches his FRA and starts collecting benefits, he can actually continue working if he wants to without any earnings penalty - unlike if you claim early. This gives you even more flexibility in your retirement planning. The earnings test disappears once you hit FRA, so if he wants to do some part-time work or consulting after "retirement," it won't affect his Social Security payments at all. The bottom line everyone's been telling you is absolutely correct: he can stop working December 31st, 2025 (or any day before that) and still receive 100% of his benefit starting January 2026. The timing of when you stop working and when you claim benefits are two completely separate decisions!

I'm so glad you asked this question because I was literally wondering the same thing about my own situation! My FRA is coming up in a few months and I've been stressing about whether I need to work right up until that exact month. Reading through all these responses has been incredibly enlightening - it sounds like the consensus is that you can stop working well before your FRA month and still get full benefits as long as you wait to file until you reach FRA. The distinction between stopping work and claiming benefits seems to be the key thing that trips everyone up (myself included!). Thanks for posting this and getting such detailed answers from everyone - you've helped more people than just yourself!