I'm in a similar situation - turning 70 next year and trying to figure out the COLA timing. Based on what everyone's saying here, it sounds like I should budget for my statement amount PLUS whatever the 2025 COLA ends up being. Does anyone know when SSA typically announces the official COLA percentage? I want to update my retirement budget as soon as the real number comes out rather than guessing.

Just to add another perspective here - I work at a local AARP office and help people navigate Social Security questions daily. Everything that's been said about COLA not being included in your statement estimates is absolutely correct. One thing I'd also mention is that since you're planning to file in March 2025, you might want to consider filing a month or two earlier in January/February. There's no additional benefit increase after age 70, and filing earlier ensures you don't miss any payments due to processing delays. SSA has been experiencing longer processing times lately, so giving yourself that buffer could be helpful. Your first payment would still reflect the full age-70 benefit amount plus any applicable COLA adjustments.

As someone who went through this exact decision process two years ago, I want to add another perspective on the life expectancy vs. breakeven calculation. You're absolutely right to question whether the breakeven point relates to SSA's life expectancy data - it doesn't directly, but there's an important connection you should know about. The SSA's actuarial assumptions built into the delayed retirement credit system were designed decades ago when life expectancies were shorter. What this means is that if you have reason to believe you'll live longer than the "average" person from those older tables (better healthcare, higher education, good genes on one side of the family), the 8% annual increase for delaying becomes even more valuable. But here's what really struck me about your situation: you mentioned your wife is younger and would likely outlive you. Have you looked into the "claim and invest" strategy? Some people in your position claim at FRA, then invest the difference between what they would have received versus what they'll eventually get at 70. If you're disciplined about investing that money, you might come out ahead even if you don't live to the traditional breakeven age. One more thought - at 63 with some health concerns, consider getting a more comprehensive health evaluation. Sometimes blood pressure issues can be early indicators of other cardiovascular risks that might influence your longevity projections. Knowledge is power in this decision!

This is such a great discussion! As someone who's been wrestling with similar questions about Social Security timing, I wanted to add a perspective that might help others in this situation. One thing I've learned from talking to a fee-only financial planner is that the "breakeven analysis" most people focus on is actually pretty limited because it only looks at the cumulative dollars received. But there are several other factors that can tip the scales: 1. **Inflation protection**: Social Security benefits get annual COLA adjustments, but other retirement income sources might not. The larger base benefit you get from delaying means more inflation protection over time. 2. **Tax considerations**: Depending on your other income sources, the timing of SS benefits can significantly impact your tax situation. Sometimes claiming earlier pushes you into higher tax brackets or triggers more taxation of your benefits. 3. **Medicare planning**: If you're considering delaying Social Security, make sure you still sign up for Medicare Part A at 65 to avoid potential penalties, even if you're not claiming SS yet. Connor, given that you mentioned you're still working part-time, you might want to also consider how your current earnings will affect your future benefit calculation. SS uses your highest 35 years of earnings, so if you're earning well now, those years might replace some lower-earning years from earlier in your career and boost your eventual benefit. The family longevity piece is tricky because we're all living longer than our parents' generation on average, but individual health factors definitely matter. Have you considered talking to your doctor about your actual health risks rather than just relying on family history?

So sorry about both your husbands passing away. That must be really hard. Sending hugs!

I work as a benefits specialist and want to emphasize something important that might affect your planning: when you remarry, make sure your new husband understands that life insurance or other private retirement accounts might be crucial to supplement what would be a much lower Social Security survivor benefit based on your earnings record. Since you mentioned your earnings history is much lower than your deceased husbands', this gap could be significant. You might want to consider term life insurance or other financial products to help bridge that difference for his financial security. It's wonderful that you're thinking ahead about these issues - many people don't realize how remarriage affects survivor benefit calculations until it's too late.

I'm really sorry for your loss, Everett. It's encouraging to see your update that the Claimyr service worked so well for you! As someone new to this community, I've been learning so much from everyone's shared experiences with navigating SSA services. The phone wait times really are ridiculous - it's frustrating that people dealing with difficult life situations like losing a spouse have to jump through so many hoops just to speak with someone. Thank you for sharing what worked for you, and I hope the rest of your application process goes smoothly. It's clear this community really looks out for each other!

I'm so sorry for your loss, Everett. It's really heartwarming to see how this community came together to help you find a solution! As someone new here, I'm impressed by all the practical advice everyone shared - from the scheduling tips to the Spanish line workaround to the Claimyr service that ultimately worked for you. It's frustrating that dealing with government services has to be so difficult during an already challenging time, but it's encouraging to know there are resources and workarounds available. Thank you for updating us with what worked - that kind of follow-up is so valuable for other members who might face similar situations. Wishing you all the best with the rest of your application process!

After reading everyone's responses, I'm feeling much better about this situation. It sounds like the process is pretty straightforward - they'll catch the overage through my tax return, send me a letter explaining the situation, and then make small deductions from my payments until the $350 is recovered. I'll make sure to budget for slightly smaller payments for a few months next year. Thank you all for sharing your experiences and expertise!

I'm in a similar situation - turned 62 last month and just started collecting benefits. I've been so worried about accidentally going over the limit! Reading through everyone's responses really helps calm my nerves. It sounds like SSA has a pretty reasonable process for handling overages, and the fact that they spread the repayment over several months instead of taking it all at once makes it much more manageable. Thanks for asking this question Paolo - I'm sure there are lots of us early retirees who needed to hear these answers!