I turn 70 on Nov 22, 2024 (I qualified for full retirement at 66 and zero months). Is there any difference in my monthly pay if I retire on Nov 22, 2024 or wait until Jan 1, 2025 to retire?

Hi. By 'retire', I assume you're referring to the month that you claim your Social Security retirement benefits. In that case the answer is no, except that you'd lose 2 months of benefits if wait for January. You can't earn delayed retirement credits (DRC) for any months starting with the month you reach age 70, so waiting past November 2024 in your case wouldn't increase your benefit rate.

However, if by 'retire' you mean stopping work, then working an additional 2 months might result in a marginal increase in your 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 by earning more in a year than you did in one of your previous highest 35 years of earnings you could raise your retirement benefit rate at least somewhat.

Regardless of when a person stops working, though, there would be no advantage to waiting past age 70 to claim their Social Security retirement benefits. You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry