Will I be able to start now, and work three more months full time

It appears that the earnings limit is applied on a MONTHLY basis the first year of retirement, and then an ANNUAL basis on subsequent years.

Consider the following excerpted from http://www.socialsecurity.gov/pubs/10069.html#a0=3&special

Sometimes people who retire in mid-year already have earned more than the yearly earnings limit. That is why there is a special rule that applies to earnings for one year, usually the first year of retirement. Under this rule, you can get a full Social Security check for any whole month you are retired, regardless of your yearly earnings.

In 2012, a person under full retirement age for the entire year is considered retired if monthly earnings are $1,220 or less. For example, John Smith retires at age 62 on October 30, 2012. He will make $45,000 through October.

He takes a part-time job beginning in November earning $500 per month. Although his earnings for the year substantially exceed the 2012 annual limit ($14,640), he will receive a Social Security payment for November and December. This is because his earnings in those months are $1,220 or less, the monthly limit for people younger than full retirement age. If Mr. Smith earns more than $1,220 in either of those months (November or December), he will not receive a benefit for that month. Beginning in 2013, only the yearly limits will apply to him.

You may want to consider delaying Social Security benefits as each month of delay will increase your monthly benefit by about 0.5 percent.

http://socialsecurityhop.com/forums/retirement-benefits-social-security/...