Calculator tool
Social Security benefits increase by 8% per year for each year you delay claiming after 67, up to age 70. Claiming before 67 reduces benefits by approximately 6.67% per year. This calculator compares total lifetime benefits at your chosen age versus claiming at 62 or 67.
Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.
When should I claim Social Security?
The optimal claiming age depends on your health, life expectancy, and financial needs. Delaying to age 70 maximizes monthly income, while claiming early provides more years of income if you have a shorter life expectancy.
What is the break-even age?
The break-even age is when the cumulative benefits from a delayed claim surpass the cumulative benefits from an earlier claim. Typically, delaying from 62 to 67 breaks even around age 78–80.
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