So if the 65th birthday was in October it would be wise to wait to apply in January of the following year? will that change the benefit?
Calculate the date that you qualify for full retirement. See the chart in the link below. If you were born betwween 1943 and 1954, your full retirement age is 66 and the date of your full retirement would be your 66th birthday.
https://www.ssa.gov/planners/retire/retirechart.html
There is no earnings limit starting on the day you reach full retirement age. Estimate your W-2 gross earnings and net self-employment earnings (gross self-employment - self-employment expenses) in the year of full retirement.
Calculate the amount of this earnings will be from January 1 to the day before you reach full retirement age. You can use the number of days from January 1 to the day before you reach full retirement and prorate.
(number of days before full retirement / days in year ) *
total earnings for year.
Subtract $45,360 from earnings before full retirement and then divide by 3 to get the amount that Social Security will take back.
Look at your Social Security earnings report to estimate your monthly retirement benefits. You can get this info by setting up an account at www.ssa.gov (Sign in/up at top right, “my Social Security”, create account)
If the monthly Social Security benefit is greater than the amount that Social Security will take back, you should start Social Security Retirement in the year of full retirement.
Contact Social Security early in the year of your full retirement.