Social Security benefit only increased $5 at FRA - worth working 10 more months?

Something's definitely wrong with that calculation. I worked an extra year past my original planned retirement and my benefit went up by about $140/month. A measly $5 increase doesn't make sense unless you had very low earnings last year compared to your lifetime average. Double-check that your 2024 earnings were properly recorded - sometimes employers make reporting errors.

The way Social Security calculates your benefit is based on your highest 35 years of indexed earnings. If you already had 35 solid years, one more decent year might only replace a slightly lower year, resulting in minimal change to your overall benefit amount. Look at your earnings record year by year - the increase you get depends on how much that new year improves your overall average.

I had almost the EXACT same thing happen!! worked my butt off in 2023 and check my statement a few months ago and my benefit only went up $12!! Called SSA and they just said thats how the math works out. so frustrating after all that extra effort!!!!!

The benefit calculation is complex, but here's what might be happening: 1) Your 2024 earnings might have only replaced a year that wasn't much lower 2) Remember that benefits are calculated using a weighted formula that gives you less credit for higher earnings 3) If you work past your FRA until Oct 2026, you'd not only get the benefit increase from those earnings but also Delayed Retirement Credits of 8% per year (about 6.67% for 10 months). That's often more valuable than the increase from additional earnings.

My brother had this problem too. Turns out they didn't have all his income recorded correctly. He had to bring his W2s to the SS office. What a hassle but they fixed it eventually.

If you're trying to reach SSA about this, good luck getting through on the phone! I spent 3 weeks trying to talk to someone about my benefit calculation. Keep getting disconnected or waiting for hours. I finally used a service called Claimyr (claimyr.com) that got me through to an agent in about 15 minutes instead of the usual hours-long wait. They have a video demo at https://youtu.be/Z-BRbJw3puU showing how it works. Saved me so much frustration when I needed to get my benefit amount straightened out.

Also consider your tax situation when deciding whether to work those extra 10 months. Sometimes the combination of additional Social Security benefits plus investment income from savings can push you into a higher tax bracket in retirement. For some people, working longer makes sense; for others, it's diminishing returns.

my friend betty worked til 70 and got way more SS than if she retired at 67. like $600 more a month! but she hated those last 3 yrs of work sooo much. always said she shoulda quit earlier and enjoyed life more even with less money

To directly answer your question about whether it's worth working 10 more months: Calculate what your benefit would be with the delayed retirement credits (about 6.67% more for 10 months beyond FRA). Then multiply that monthly increase by how many months you expect to collect benefits (life expectancy). If that total exceeds what you'd earn by working those 10 months (after taxes), then retiring might make more financial sense. But also factor in non-financial considerations like job satisfaction, health, and retirement plans.

I recommend calling SSA directly about this. The online estimates can sometimes have issues, especially with recent earnings. A $5 increase sounds suspiciously low and may indicate a calculation error or a data entry problem. The representative can walk through your entire earnings record and benefit calculation with you to explain exactly why the increase is so small.