What happens if I delay Social Security past age 70 while still working? Any penalties?

You should apply for your Social Security retirement benefits immediately. There's no financial advantage to waiting beyond age 70. Unlike delaying between FRA (Full Retirement Age) and 70 where you earn delayed retirement credits of 8% per year, there are NO additional increases after 70. The SSA will only pay up to 6 months of retroactive benefits, so every month you delay past 70 is essentially lost money that you'll never recover.

I made the EXACT same mistake and it cost me thousands!! The SSA doesn't tell you this clearly enough. I kept working until 72 and didn't apply because I thought I didn't need to until I stopped working. BIG MISTAKE! When I finally applied, they only gave me 6 months of back payments and I lost over a year of benefits I could have been collecting. Apply TODAY!!

The good news is you can still work while collecting Social Security retirement benefits after you reach full retirement age (which you've well passed at 70). There's no earnings limit that will reduce your benefits. You'll receive your full Social Security payment regardless of how much you earn from your landscaping business. However, depending on your combined income, up to 85% of your Social Security benefits might be subject to federal income tax.

Apply online at ssa.gov its the fastest way. took me like 20 minutes. way better than going to the office

If you're struggling to get through to SS on the phone to ask questions about your application, you might want to try Claimyr.com - I used it last month when I needed to talk to someone about my retirement benefits and kept getting disconnected after waiting on hold for hours. They got me through to a live person at SSA in about 15 minutes. They have a video demo at https://youtu.be/Z-BRbJw3puU that explains how it works. Was definitely worth it since I needed specific answers about my application that the website couldn't address.

my dad waited til 73 to claim and regrets it big time. SSA only gave him 6 months backpay even tho he didnt know about the age 70 cutoff for increases. dont make the same mistake!

To directly answer your original question: Yes, there is essentially a "penalty" for not filing at 70, but it's not an actual penalty - it's lost money you can never recover. For every month beyond 70 that you don't apply, you're permanently forfeiting a month of benefits (except for the 6-month retroactive period). The SSA doesn't automatically enroll you, and many people mistakenly believe benefits continue to grow after 70 or that you shouldn't apply until you stop working. Neither is true!

Wait so does anyone know if you HAVE to apply for SS at 70 even if still working? or is it just recommended so you dont lose $?

Just want to add another perspective here - I'm a retired SSA employee and can confirm everything said about the 70 cutoff is absolutely correct. The delayed retirement credits stop at age 70, period. I've seen so many people come in months or even years later thinking they were being smart by waiting, only to find out they'd left thousands on the table. The 6-month retroactive limit is federal law and there are no exceptions, no matter how compelling your story. Please don't delay any further - apply immediately and start collecting what you've already earned!

As someone new to this community, I just wanted to say how eye-opening this thread has been! I'm 68 and was planning to wait until I fully retire at 72 to apply for Social Security, thinking it would keep growing like it does from FRA to 70. Reading everyone's experiences here - especially from the retired SSA employee - has completely changed my understanding. I had no idea that benefits stop increasing at 70 and that you can lose money permanently by waiting. This is exactly the kind of real-world knowledge that people need but don't always get from official sources. Thank you all for sharing your stories and expertise - you've potentially saved me from making a very costly mistake!

As another newcomer to this community, I want to echo what others have said about how valuable this discussion has been. I'm 69 and was actually in almost the exact same situation as the original poster - still working and planning to wait until I fully retire to apply for Social Security. I had always assumed that since I didn't need the money right now, it made sense to wait. Reading through all these responses, especially from the retired SSA employee, has been a real shock. I honestly had no idea that benefits stop growing at 70 or about the 6-month retroactive limit. It seems like this is information that should be more widely publicized by SSA itself, since so many people seem to make this same costly mistake. I'm definitely going to apply right away now - thank you everyone for sharing your knowledge and experiences!

As a newcomer to this community, I want to thank everyone for this incredibly informative discussion! I'm 68 and honestly had no clue about the age 70 cutoff for delayed retirement credits. Like many others here, I was under the impression that you should wait to apply for Social Security until you actually retire from work. Reading through all these real experiences - especially the confirmation from the retired SSA employee - has been a huge wake-up call. It's concerning how many people seem to fall into this same trap of thinking they're being smart by waiting past 70. I really appreciate communities like this where people share practical knowledge that can save others from costly mistakes. The government really should make these critical deadlines clearer in their communications!

As a newcomer to this community, I'm absolutely stunned by this discussion! I'm 69 and have been working part-time consulting while putting off my Social Security application because I thought I was being financially responsible by not "taking" benefits while still earning income. Reading through everyone's experiences here - especially hearing from the retired SSA employee who confirmed the 70 cutoff rule - has been a complete game-changer for my understanding. I had no idea that delayed retirement credits stop at 70 or about the 6-month retroactive limit. Like so many others here, I genuinely believed the benefits would keep growing as long as I waited, similar to how they increase from full retirement age to 70. This thread has potentially saved me from a very expensive mistake! It's remarkable how many newcomers to this community are all discovering the same critical information. Thank you all for sharing your real-world experiences and expertise!