My clients full retirement age is 65 and she has continued to work to age 70 (this year). If she continues to work beyond age 70 what would be the impact to her benefit?

Hi. For the record, the full retirement age (FRA) for someone turning age 70 in 2023 was 66, not 65. To answer your question, though, if your client works past age 70 she could potentially increase her benefit rate. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so your client's future earnings would only increase her benefit rate if she earns more in a year than she did in one of her previous highest 35 years of Social Security covered wage-indexed earnings.

Regardless of whether or not your client continues working, though, she wouldn't want to wait past age 70 to claim Social Security retirement benefits. Delayed retirement credits (DRC) can only be accrued for months prior to the month that a person reaches age 70, so waiting past then to start drawing benefits wouldn't increase the person's benefit rate.

By the way, if you're a financial advisor you should strongly consider subscribing to our software (https://maximizemysocialsecurity.com/advisors) so that you'll be able to fully compare and analyze all of your clients' various options so that you can give them the best possible advice for maximizing their benefits.

Best, Jerry