Turned 66 in July. Have not applied for SS benefits. I've heard that it is critical to apply at a certain time (month) of the year to take full benefit of the recalculation each year while I'm still working. I will work until 70, at $104K/year...which will make up for those lean years as they drop out of the calculations. What month of the year is the best time to begin SS?

Hi,

There's no set best month of the year to claim benefits. Each person's situation is different, and there's no standard best strategy for claiming benefits. In your case, it sounds like it may be best for you to wait until the month that you reach age 70 to claim your retirement benefits, but you may have other better options available to you. You should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to explore and compare your options so that you can determine which strategy would likely work out best for you.

Regarding benefit recomputations, your benefit rate can be recalculated after each year in which you have higher earnings than you had in one of your previous 35 years of wage-indexed earnings. The new rate would first be effective with benefits payable for the month of January of the year following the year in which you had the higher earnings, but you would still get the recomputation regardless of what month you claim benefits. Our software would allow you to determine what effect your future year earnings would have on you benefit rate.

Best, Jerry