Can I earn unlimited income after FRA while collecting Social Security at 66 & 10 months?

You've got it right about the earnings limit! Once you reach your full retirement age (66 and 10 months in your case), the earnings test goes away completely. You can make $500,000 a year running your plumbing business and still get every penny of your Social Security retirement benefit. As for your second question - yes, your benefit will continue to increase if you delay beyond your FRA. You'll earn delayed retirement credits of 8% per year (or 2/3 of 1% per month) up until age 70. After 70, there's no more increase. So if you wait from your FRA to 70, that's a roughly 26.7% permanent increase in your monthly benefit amount. Since you plan to keep working anyway, and presumably don't need the SS income right now, delaying until 70 might be your best financial move unless you have health concerns.

its NO LIMIT after fra period. take it when u want but yes it goes up 8% every year til 70 then stops. my brother waited til 70 and gets way more than me cuz i took mine at 66. wish i waited now lol. but yeah with your busines if ur still making good $ might as well wait

I was in a similar situation with my electrical contracting business. Waited until 70 to claim and SOOOO glad I did. The extra amount is substantial and now that I'm 78 I've definitely come out ahead financially.

One thing to consider that hasn't been mentioned yet - while your benefit increases by waiting, remember that it's a break-even calculation. Generally, you'd need to live until about 82-83 to break even on waiting from FRA to age 70. If you live beyond that, waiting was the better financial choice. If you don't make it that far, taking it earlier would have been better. Also, yes, the delayed retirement credits DO increase potential survivor benefits for your wife, which is a significant consideration since she's younger. If you pass away first, she would be eligible for 100% of your benefit amount including all delayed retirement credits you earned.

Have you tried calling SSA to get a personalized analysis of your situation? I spent WEEKS trying to get through on their 800 number to discuss my options (similarly self-employed), kept getting disconnected or waiting for hours. Finally used a service called Claimyr (claimyr.com) that got me connected to an actual SSA representative in about 20 minutes. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU The SSA rep was able to run my personal numbers and give me projections for different claiming ages based on my actual earnings history. Made my decision much clearer than general advice.

THE GOVERNMENT DOESN'T WANT YOU TO KNOW THIS!!!! But if you work past 70 and DONT claim your benefits you're literally GIVING THEM FREE MONEY. They hope you forget to file!! Its YOUR MONEY you EARNED IT. Don't let them keep it!! File at LEAST by 70 no matter what!!!!

So from what everyone's saying, since I'll keep working anyway and don't need the income right now, waiting until 70 makes the most sense - especially since it would give my wife a higher survivor benefit if needed. I appreciate all the input - will probably try to get an appointment with SSA to get my specific numbers before making the final decision.

omg everyone's making this so complicated lol. just take it when u need it. all these calculations and projections... nobody knows when they're gonna die!