Social Security reduction for claiming 4 months before FRA - worth it or wait?

Your benefit gets reduced by about 0.56% per month for each month before your FRA. So filing 4 months early means about a 2.2% permanent reduction in your monthly benefit. Whether that's "just a few dollars" depends on your benefit amount - if you're getting $2000/month, that's around $44 less each month FOR LIFE. Not huge, but it adds up over time. Have you checked your estimated benefit on the MySocialSecurity website?

i took mine 9 months early cuz i needed the money and i dont regret it. money now is better then money later thats what i think. who knows whats gonna happen tommorow right?

The permanent reduction is indeed about 2.2% of your benefit amount if you're 4 months short of FRA. However, there's another important consideration: are you still working? If yes, and you'll earn more than the annual earnings limit ($21,240 in 2025 for people under FRA), Social Security will withhold $1 for every $2 you earn above that limit. This would effectively reduce your benefits even more until you reach FRA. At FRA, the earnings test goes away completely.

I faced this exact same decision last year. I was 4 months away from my FRA and so tired of my job. I decided to wait and I'm glad I did. Here's why: 1) The permanent reduction isn't huge, but it does add up over time 2) The earnings limit was the bigger factor for me since I wanted to work part-time 3) Those 4 months gave me time to really plan my retirement budget I used the time to set up automatic bill payments, organize my healthcare transition, and mentally prepare. The time went by faster than I expected! But everyone's situation is different - there's no universally right answer here.

Have you tried calling SSA to get an exact calculation for YOUR specific situation? I know its almost impossible to get through to them on the phone but I used this service called Claimyr to get someone on the phone without the wait. Website is claimyr.com and they have a video showing how it works here: https://youtu.be/Z-BRbJw3puU They got me through to a real person at SSA in under 10 minutes when I was trying to figure out similar questions about early filing. The agent was able to tell me EXACTLY what my benefit would be at different ages. Way more accurate than just calculating percentages.

WHATEVER YOU DO, don't just blindly take benefits early without understanding all the ripple effects!!!! I filed 8 months early and DEEPLY regret it. Not just because of the permanent reduction, but because of how it affected my wife's survivor benefits if I die first. Also, I didn't factor in the earnings test, which meant I basically got NOTHING for several months because I was still working. The SSA doesn't explain this stuff clearly. Make sure you understand the long-term impact, not just the short-term gain!!!

After reading your responses, it seems like the earnings limit might be the biggest factor for you since you plan to work part-time. Just to be clear: if you file now (4 months before FRA) and earn $24,000 this year, you'd be $2,760 over the limit ($24,000 - $21,240). That means SSA would withhold approximately $1,380 from your benefits ($1 for every $2 over). But this is only until you reach FRA - after that, you can earn as much as you want with no penalty. So really, the earnings test would only affect you for 4 months.

dont forget about taxes to! if you make to much money while on ss then more of your benefits get taxed. like 85% of them can be taxed if your over the limit. somthing else to think bout.

After reading through this whole discussion, I think you're in a good position to make an informed choice now. It's not a massive financial difference either way given that it's only 4 months. The earnings test complicates things slightly, but only for those 4 months. One last thing to consider: if you're truly miserable at work, what's the value of your happiness and mental health for those 4 months? Sometimes that's worth more than the financial calculation. Best of luck with your decision!