I will be 66 (FRA) in February 2017. I am planning to continue working full-time until February 2019 and I had planned to delay filing for social security benefits until that time, or, possibly, even 2020 when I will be 69.
I am totally unsure now, with Trump the president-elect. My feeling now is that I should file as soon as I reach FRA because I have no idea what he or the Republicans might do with respect to social security. My latest plan is to file in Feb 2017 at FRA, save all of the social security (since I will still be working full-time), see how things go, and if I feel more confident at the end of 2017, I can withdraw and pay it all back. Any advice? I know you don't have a magic ball to tell you what lies ahead politically, but what would you do in my situation? I am sure others are in the same boat on this one, and I feel I need to make a decision within the next 2 months. Thanks for your help.

Hi,

I can't advise you what to do, but I'd be shocked if Congress took any action to change the Social Security laws in any manner that would justify you changing your original plan. The President can't change Social Security laws without an act of Congress, and to my knowledge, Congress has never acted to cut Social Security benefits for people who are already old enough to start drawing. Nor would I expect them to do so in the future. You must use your own judgment, though, since nothing in the future is guaranteed.

Before filing, you may want to consider running the maximization software available on this website. That should help you determine your best filing strategy. You may even have filing options that you haven't yet considered.

Best, Jerry