Working full-time after FRA vs waiting until 70 for maximum Social Security benefits - which is better?

I was in almost the exact situation 2 years ago. After crunching the numbers, I decided to wait until 70. Here's why: 1. If you're still earning good money, your SS benefits could be taxed up to 85% depending on your combined income. 2. The 8% per year increase in benefits for each year you delay past FRA is hard to beat as a guaranteed return. 3. If you live beyond your early 80s, you'll collect more total SS money by waiting (the break-even point). 4. Those larger payments become even more valuable if/when you eventually stop working. 5. If you're married, a higher benefit also means potentially higher survivor benefits for your spouse. Of course, everyone's situation is different. Health, family longevity, and immediate cash needs should factor into your decision.

took mine at FRA and kept working... the money now is better than promises later imo... nobody knows how long we get on this rock!!! plus I had some home repairs and a cruise I wanted. tax hit wasnt as bad as i feared

I waited until 70 and I ABSOLUTELY REGRET IT! Do you know what happened? The year I turned 69, I had a heart attack and had to stop working. I could've had 3 years of SS payments that I'll NEVER get back now. Don't let the government keep YOUR money longer than necessary. Take it at FRA!!!

I think you're missing some important nuances in your analysis. The right decision depends on several factors that you should carefully evaluate: 1. Tax consequences: If you're earning $95,000, up to 85% of your SS benefits would be subject to income tax. At your income level, you'd effectively lose a significant portion of those benefits to taxes. 2. Investment potential: If you take benefits at FRA while working, could you invest those funds more effectively than the guaranteed 8% per year increase from delaying? Historically, that's challenging to beat without significant risk. 3. Longevity assessment: The break-even age is typically around 82-83. If family history suggests longer lifespan, waiting generally provides more lifetime income. 4. Spouse considerations: If you're the higher earner, waiting maximizes potential survivor benefits. 5. Health insurance: Are you on Medicare already or still on employer coverage? Perhaps consider a partial strategy: If you plan to work until 70 anyway, wait on Social Security. If you might retire earlier, you could take benefits at that point.

Has anyone here actually been able to get through to SSA to discuss these options? I've been trying for weeks to talk to someone about similar retirement questions and I can't get past the automated system. So frustrating!

Thanks everyone for the thoughtful responses. I'm now leaning toward waiting until 70 since I'm still healthy and plan to keep working anyway. The tax implications at my current income plus the survivor benefit for my spouse make the delayed filing seem like the better option. I really appreciate all the different perspectives!

did u check if ur eligible for spousal benefits while u wait til 70? my wife claimed hers at fra but i filed a restricted application for just spouse benefits at my fra then switched to my own (higher) benefit at 70... not sure if thats still an option for ppl ur age tho

My brother worked until 70 and never took SS. Died at 71. All that money just gone. If you have health issues in your family history, take it earlier.

One more thing to consider: delayed retirement credits only accrue until age 70, so there's absolutely no benefit to waiting beyond that point. Also, make sure you understand how your continued earnings might increase your benefit amount regardless of when you claim. Your benefit is based on your highest 35 years of earnings, so if you're earning more now than in some of those earlier years, you might see a benefit increase even after you've filed.