I just want to say how grateful I am for this entire thread! As someone who's been putting off learning about Social Security because it seemed so intimidating, seeing all these explanations broken down in plain English has been incredibly helpful. I'm bookmarking this page and definitely going to create that acronym cheat sheet that @Ryder mentioned. It's amazing how much clearer everything becomes when people actually explain what these letters stand for instead of just throwing them around assuming everyone knows. One question I have - does anyone know what happens to your benefits if you move to a different state? I've heard there might be tax implications but I'm not sure if there are any other considerations with Social Security specifically. Thanks again to everyone who took the time to explain all these terms. This community is such a valuable resource!

This thread has been incredibly educational! As someone who's been dreading navigating the Social Security maze, seeing all these acronyms explained in simple terms is such a relief. I'm definitely going to print this out and keep it handy. One acronym I haven't seen mentioned yet is OASDI - Old Age, Survivors, and Disability Insurance. This is what most people think of as "Social Security" and it's what you see deducted from your paycheck (along with Medicare taxes). It covers retirement benefits (Old Age), benefits for surviving spouses and children (Survivors), and disability benefits (Disability Insurance). Also, for anyone dealing with disability benefits, you might see CDR which stands for Continuing Disability Review - that's when SSA periodically reviews your case to make sure you still qualify for disability benefits. Thanks to everyone who contributed to making this such a comprehensive guide! It's posts like these that make navigating government benefits feel a little less overwhelming.

Thanks everyone for the helpful info! To summarize what I've learned: 1) Yes, I can withdraw within 12 months, 2) Need to use Form SSA-521, 3) Must repay ALL benefits including what others received on my record, 4) Only get one withdrawal in my lifetime, 5) No interest charged but must repay gross amount including any Medicare/tax withholdings. I'm going to think carefully about whether starting at 62 is right for me with this safety net, or if I should just wait longer from the beginning.

One thing I'd add that hasn't been mentioned - if you're still working when you claim at 62, be aware of the earnings test. In 2024, if you earn more than $22,320, they'll reduce your benefits by $1 for every $2 you earn above that limit. This continues until you reach FRA. So if your part-time business does take off, you might find your benefits reduced anyway due to the earnings limit, which could factor into your withdrawal decision. Just another consideration for your planning!

I'm going through something very similar right now! I'm 53, been receiving survivor benefits for 4 years, and my partner and I have been discussing marriage timing for the same reasons. What really helped me was calling SSA and asking them to mail me a benefit verification letter that shows exactly what I'm currently receiving monthly. Then I could do the math - if I'm getting $2,800/month in survivor benefits, that's $33,600 per year, which means waiting until 60 would preserve about $235,000 over 7 years. That made the decision much clearer! Also, I learned that even if you remarry after 60, you don't have to immediately switch to spousal benefits. You can continue receiving survivor benefits and then evaluate your options when you reach full retirement age to see which benefit would be highest. One practical tip - if you call SSA, ask them to walk you through a "what if" scenario. They can tell you exactly what would happen to your current benefits if you remarried on a specific date. Getting that official confirmation really helped ease my anxiety about making the wrong choice. The waiting isn't easy emotionally, but knowing we're securing our financial future together makes it feel worth it. Good luck with whatever you decide!

As someone who works with retirement planning, I want to emphasize one critical point that hasn't been fully addressed - you need to compare not just the immediate survivor benefits you'd lose, but also the long-term retirement benefits available from each spouse's record. Here's what many people don't realize: when you reach your Full Retirement Age, you can claim 100% of your deceased husband's benefit (not just the reduced survivor benefit you're getting now at 51). This could be substantially higher than what you're currently receiving. So your calculation should be: 1. Current survivor benefits lost from remarrying before 60 (roughly 9 years worth) 2. The difference between your deceased husband's full retirement benefit vs. your new husband's full retirement benefit 3. Factor in that your new husband is 11 years older - statistically, you're more likely to become his widow and need his survivor benefits I'd also recommend checking if your state has any additional widow benefits or property tax exemptions you might lose upon remarriage. Some states have programs specifically for widows that aren't tied to federal Social Security rules. The math gets complex, but given the potential six-figure impact, it's definitely worth spending some time with a fee-only financial advisor who specializes in Social Security optimization to run all the scenarios before making this decision.

What a thoughtful and comprehensive discussion! As someone who just went through this exact decision at 68, I wanted to share my experience since it might be helpful. I was in a very similar situation - still working as a project manager earning around $110,000 and torn between taking benefits or waiting until 70. After reading through discussions like this one and running detailed tax calculations, I decided to start my benefits at 68 and I'm glad I did. Here's what ultimately swayed me: When I calculated the REAL difference after taxes and higher Medicare premiums, that $250 monthly difference shrunk to about $160 net. Then I considered what I could do with 24 months of payments ($160 x 24 = $3,840 in net difference over two years) versus the uncertainty of whether I'd live long enough to break even. The psychological impact has been significant too. Having that steady income stream has given me much more confidence at work - I feel less dependent on my employer and more willing to speak up about issues or potentially reduce my hours if I want to. That peace of mind alone has been worth it. One practical tip: I set up automatic investment of my SS payments into a conservative portfolio. This way, I'm still growing the money while having the security of knowing it's mine regardless of what happens with my health or the economy. The decision is deeply personal, but don't let anyone pressure you into the "mathematically optimal" choice if it doesn't feel right for your situation. Sometimes the bird in the hand really is worth more than two in the bush.

I'm 66 and facing this same decision in a couple of years, so I've been following this discussion with great interest. What really strikes me from reading everyone's experiences is how this goes far beyond just the math - there are so many personal factors that the break-even calculators simply can't account for. The stories about family members who waited and passed away early are particularly sobering. My father always told me "you never know what tomorrow brings," and while the 8% guaranteed increase sounds great on paper, there's real wisdom in the "bird in hand" philosophy that several people have mentioned. I'm especially grateful for the detailed discussion about tax implications and IRMAA calculations. @Ravi Sharma's breakdown of how Social Security benefits get taxed at different income levels was incredibly helpful, and @PixelPioneer's real-world example of how that $250 monthly difference shrinks to $160 after taxes really puts things in perspective. The psychological benefits that multiple people have mentioned - workplace confidence, peace of mind, freedom to make different work choices - these seem like legitimate factors that are hard to quantify but genuinely valuable. Having that guaranteed income stream while you're still healthy and able to enjoy it could be worth more than maximizing the dollar amount on paper. Thanks to everyone for sharing such personal insights. This kind of community wisdom is exactly what those of us approaching these decisions need alongside the official guidance and calculators.

Great discussion everyone! As someone new to this community, I wanted to add that it's also worth checking if your state has any additional survivor benefits or programs that might complement Social Security. Some states offer property tax exemptions or other assistance for surviving spouses. Also, don't forget to update beneficiaries on all your accounts (401k, IRA, life insurance, etc.) as part of your planning - these aren't affected by Social Security rules but are crucial for comprehensive survivor planning. The strategy discussions here about timing different benefits are really eye-opening!

As a newcomer here, I want to echo what others have said about getting professional advice on this complex topic. One thing I learned when helping my aunt through this process is that Social Security has a specific order for how they process survivor applications - they'll actually backdate benefits to the month after death if you apply within certain timeframes, but there are strict deadlines. Also, if you're considering the strategy of taking your own benefit first then switching to survivor benefits later, make sure to get that plan in writing from SSA before implementing it, because different agents sometimes give conflicting advice. The rules are so intricate that even small timing differences can cost thousands over the years. Great question and really helpful responses from everyone!