Can I file for maximum Social Security at 70 before my birthday while self-employed?
Hey SS experts, I'm reaching a crossroads with a timing question on my retirement benefits. I'll be turning 70 in early February 2025 and I'm still running my own consulting business, which I plan to continue for another 3-5 years at least. I've waited to claim Social Security until 70 to get the maximum delayed retirement credits. About 6 weeks ago, SSA sent me that reminder letter about applying, so I started the online application but stopped halfway because I had some questions about timing. My main concern: I have a phone appointment with SSA scheduled for November 12, 2024. Since that's nearly 3 months BEFORE my 70th birthday, can I actually complete my application during that call? Or do I legally have to wait until after my February birthday passes to finalize everything? I'm worried about this because I'm self-employed (Schedule C filer) and will continue working. Does this complicate things with the application timing? I definitely don't want to mess up and somehow reduce my benefit by filing at the wrong time. Really appreciate any insights from those who've navigated this situation!
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Tyler Murphy
you can file up to 4 months before you want benefits to start. so yes during your november phone interview you can complete the application and tell them you want benefits to start the month you turn 70 (february 2025). thats what i did last yr
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Alana Willis
•That's a relief! So they'll just put it in the system with the February start date? I was worried they might accidentally start processing it for an earlier date if I file in November.
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Sara Unger
Self employment doesn't change anything about when you can file for retirement benefits. The 4 month advance filing window applies to everyone. What DOES matter is reporting your ongoing income correctly since you'll still be working. Make sure you tell them you're continuing to work - but there's no earnings limit after FRA so it won't reduce your benefits.
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Butch Sledgehammer
•This is correct. You can file up to 4 months before you want your benefits to begin, and the SSA representative will process your application with your requested start date (the month you turn 70). Since you're well past your Full Retirement Age (FRA), continuing to work will not affect your benefit amount regardless of how much you earn. During your phone interview, just make it very clear to the representative that you want your benefit to begin in February 2025 when you turn 70. They will document this in your application. This is a routine request that SSA handles regularly.
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Freya Ross
I tried FOUR TIMES to get through to someone at Social Security about my delayed retirement application. Always 2+ hour waits and then disconnected!!! Finally used a service called Claimyr (claimyr.com) that got me connected to a SSA agent in about 20 minutes. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU Worth it for peace of mind since phone appointments are the only option where you are. Good luck!
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Alana Willis
•Thanks for the tip! I do have an appointment already scheduled but if they reschedule or I need to call back, I'll definitely check out that service. The phone system is so frustrating.
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Leslie Parker
DONT submit online and stopping was smart. Always do the phone appointment. The online system has HUGE mistakes sometimes. My sister did online filing thinking it was easier and they somehow entered her as disabled instead of retired!!! Took 7 months to fix and she almost lost her house waiting. The phone rep will enter everything correctly for that February 2025 start date.
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Sergio Neal
•This is why I always tell ppl to PRINT EVERYTHING. Online applications can have big problems. When you do phone interview ask them to mail you confirmation showing Feb 2025 start date. If they dont send it in 2 weeks, call again!!!
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Savanna Franklin
I have a slightly different take based on my experience... Since you're self-employed, they may ask for your estimated earnings for 2024 AND 2025 during your interview. Just be ready with those numbers. And remember that even though there's no earnings limit after FRA, your ongoing self-employment income might affect how much of your Social Security benefits are taxable on your federal return. Up to 85% of benefits can be taxable depending on your combined income.
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Alana Willis
•Thanks for bringing up the tax angle - I hadn't even thought about that part yet. I'll definitely have my projected income figures ready for both years.
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Butch Sledgehammer
One additional point to consider: When you file during your November phone appointment, be sure to specify that you want your benefits to begin in February 2025, the month you turn 70. The SSA representative should automatically set this up correctly, but it doesn't hurt to be explicit. Also, you mentioned continuing self-employment for 3-5 more years. This is completely fine and won't affect your benefit amount, but you should be aware that you'll need to report your earnings through your tax returns, and SSA will automatically receive this information from the IRS. You'll still need to pay self-employment tax (for Medicare and Social Security) on your earnings even while collecting benefits. Finally, make sure to have your bank account information ready for direct deposit setup during your call.
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Alana Willis
•Thank you for these details. I've been paying SE taxes for decades, so I'll continue with that. Good reminder about having my banking info ready!
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Sergio Neal
my cousin waited til 70 but then died at 72!!! sometimes i think waiting is a mistake... but i guess u already decided.
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Sara Unger
•This kind of comment isn't helpful. Everyone's situation is different, and waiting until 70 mathematically makes sense if you expect to live past around 82-83. Not to mention the survivor benefit protection it provides for spouses.
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Tyler Murphy
make sure u bring up retroactive benefits in ur call!!!! SSA doesnt always tell u about this unless u ask. if u wait til 70 u can actually get up to 6 months of retroactive benefits if u want them
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Butch Sledgehammer
•This is incorrect information. While retroactive benefits are available for up to 6 months for those who file after Full Retirement Age, claiming retroactive benefits when filing at age 70 would actually reduce your monthly benefit amount. This is because taking retroactive benefits means you're essentially filing earlier than age 70, which means fewer delayed retirement credits. If the goal is to maximize the monthly benefit amount (which appears to be OP's intention), then requesting retroactive benefits would be counterproductive.
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Brianna Muhammad
Just wanted to add that you should also ask the SSA representative during your November call to confirm your earnings record is complete and accurate. Since you're self-employed, sometimes there can be delays in reporting that might affect your benefit calculation. They can pull up your earnings history during the call and verify everything looks correct for maximizing your age 70 benefit. Better to catch any issues now rather than after you start receiving payments!
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Liam McConnell
•That's a really good point about checking the earnings record! I actually haven't looked at my full earnings history in a couple years. Since I've been self-employed for the last 15 years, I want to make sure all my SE tax payments are properly credited. I'll definitely ask them to review that during the November call. Thanks for the reminder!
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