Just to add one more piece of information - when you apply, make sure you request the "Restricted Application for Spousal Benefits Only" if you're married and your spouse is already collecting. This option is still available for people born before January 2, 1954. This strategy can sometimes allow you to collect spousal benefits while continuing to let your own retirement benefit grow until age 70.

Just wanted to chime in as someone who works in retirement planning - everything you've been told here is absolutely correct. The earnings test disappears completely the month you reach FRA, which for you is October 2025. I've helped dozens of clients navigate this exact situation. One tip I always give: since you're planning to continue working full-time with an $82k salary, consider whether you want to have federal taxes withheld from your Social Security benefits right from the start. With that income level plus Social Security, you'll likely owe taxes on a portion of your benefits. You can set up withholding when you apply, or make quarterly estimated payments - but planning ahead will save you from a surprise tax bill next April. Also, keep good records of your work earnings from January through September 2025, just in case SSA needs documentation later (though with the earnings test eliminated at FRA, it shouldn't matter for benefit calculations).

I took my SS at 62 and I'm kicking myself now at 68 because I could be getting so much more if I'd waited. If RRB might pay even more at 70, maybe consider waiting on both? Living on less for a few years might be worth thousands more for the rest of your life. Just my 2 cents from someone who jumped too early.

I'm in a similar situation but with fewer railroad years (12 years RRB, 20 years other employment). Reading through all these responses, it sounds like the strategy can work but really depends on your individual numbers. One thing I learned from my research is that you can actually use the RRB website calculator to get rough estimates before requesting the formal G-90. It's not as detailed but gives you a ballpark figure to work with. Also, I found out that if you have questions about the coordination between SS and RRB benefits, there's actually a specific department at RRB that handles dual benefit cases - they might be more knowledgeable than the general customer service reps. Have you considered consulting with a fee-only financial planner who specializes in government benefits? Might be worth the cost to get an objective analysis of your situation before making such a big decision. The difference between optimizing and not optimizing these benefits could be tens of thousands over your lifetime.

Just wanted to add something that might help with the decision-making process. Your sister-in-law should calculate her "break-even" point to see if working is actually worth it financially. Here's a rough calculation based on what you've shared: - Annual earnings: $40,000 - Survivor benefits lost due to earnings test: ~$8,840 - Additional taxes on combined income: probably $2,000-3,000 more - Work-related expenses (transportation, work clothes, etc.): ~$1,500-2,000 So out of $40,000 in gross earnings, she might only net around $26,000-28,000 after all deductions and benefit reductions. That's still meaningful income, but it's important she understands the real financial impact. The non-financial benefits of working (social interaction, sense of purpose, staying active) might make it worthwhile even with the reduced net gain. But having realistic expectations about the money will help her make the best decision for her situation.

I've been through a very similar situation with my own survivor benefits, and I want to emphasize something that might not be immediately obvious: the timing of when she reports her work income to SSA is crucial. If she waits until the end of the year to report, SSA will likely demand immediate repayment of the overpaid benefits, which can create serious financial stress. However, if she reports her expected annual earnings BEFORE she starts working (or within the first month), they can adjust her monthly payments prospectively. Also, she should be aware that SSA calculates the earnings test on a monthly basis during the first year of work. So if she starts mid-year, they'll prorate the annual limit. For example, if she starts in April, she'd have a higher monthly allowance for the remaining months of that year. One last tip: if her income varies (like seasonal work or irregular hours), she can request that SSA recalculate based on actual monthly earnings rather than estimated annual earnings. This can help avoid both overpayments and underpayments throughout the year. The key is communication with SSA from the very beginning - don't let them find out about the work income after the fact!

One additional suggestion - consider setting up a meeting with your local SSA office BEFORE December. Bring documentation of your planned retirement date and ask them specifically what they'll need from you. Getting ahead of potential issues is much easier than fixing them after the fact. Also, make sure you understand how the earnings test works if you exceed the limit. For every $2 you go over the limit, benefits are reduced by $1. However, it's not a cliff - you don't lose all benefits just for going over. In the year you reach FRA, the earnings test becomes more lenient ($56,520 for 2024), and the reduction is $1 for every $3 over the limit. But this only applies to earnings in the months BEFORE the month you reach FRA.

I went through something very similar when I retired from my consulting business in 2022. One thing that really helped me was creating a "business wind-down timeline" that I shared with SSA proactively. I documented when I stopped taking new clients, when I completed final projects, and when I issued my last invoices. This timeline became crucial evidence that I had genuinely retired in my benefit month, not just reduced my hours temporarily. Also, be prepared for SSA to ask about your business assets and whether you're truly retired or just taking a break. They may want to know if you still maintain professional licenses, business insurance, or office space. Having clear documentation that you've wound down these aspects of your business helps establish that your retirement is genuine. The earnings test can feel like a minefield for self-employed folks, but with good documentation and proactive communication with SSA, it's definitely manageable. Good luck with your retirement planning!

This is such great advice from everyone! I had no idea about the Advance Designation form until reading these responses. My husband and I are both getting older and this is exactly the kind of planning we should be doing. One question - if I designate my adult son as my representative payee in advance, does he need to do anything on his end or sign anything? Or is it just something I complete on my own through my Social Security account? I want to make sure he knows about it but I don't want to burden him with paperwork right now if it's not necessary. Also wondering if anyone knows - can the designated person be someone who lives in a different state? My son lives about 800 miles away but he's really the only family member I'd trust with this responsibility.

I went through this exact process about 6 months ago after my neighbor had a similar medical emergency and his family struggled with SSA for weeks. The Advance Designation of Representative Payee is definitely the right form - everyone here has given you great advice! Just wanted to add one practical tip: when you complete the form online, take screenshots or print out every page of the process, not just the final confirmation. I learned this the hard way when I had a question later and SSA couldn't immediately locate my designation in their system (it was there, just took some digging on their end). Also, consider having a brief conversation with your wife about what this means so she knows what to expect if she ever needs to step in. The designation itself is easy to complete, but it helps if your designated person understands the process they'd need to follow if the time comes. You're being really smart to plan ahead like this. It's one of those things you hope you'll never need but are so grateful to have in place if you do.