Social Security Benefits Estimator
Estimate your Social Security benefits at different claiming ages. See how much you'll receive monthly, compare break-even points, and find the optimal time to claim based on your situation.
Your Information
Estimated Monthly Benefit at Full Retirement Age
Full Retirement Age: 67 years
Benefits by Claiming Age
| Claiming Age | Monthly Benefit | Annual Benefit | % of FRA Benefit |
|---|---|---|---|
| 62Earliest | $1,276 | $15,314 | 70% |
| 63 | $1,367 | $16,410 | 75% |
| 64 | $1,459 | $17,505 | 80% |
| 65 | $1,580 | $18,965 | 87% |
| 66 | $1,702 | $20,425 | 93% |
| 67FRA | $1,824 | $21,885 | 100% |
| 68 | $1,970 | $23,637 | 108% |
| 69 | $2,116 | $25,389 | 116% |
| 70Maximum | $2,262 | $27,140 | 124% |
Break-Even Analysis
If you delay claiming, when do you come out ahead?
| Comparison | Monthly Gain | Break-Even Age |
|---|---|---|
| 62 vs 63 | +$91 | 77.1 |
| 63 vs 64 | +$92 | 78.9 |
| 64 vs 65 | +$121 | 77.1 |
| 65 vs 66 | +$122 | 79.0 |
| 66 vs 67 | +$122 | 81.0 |
Lifetime Benefits (Assuming Age 85)
Optimal claiming age for maximum lifetime benefits: 70
(Assuming life expectancy of 85)
⚠️ Important Notes
- This is an estimate based on simplified calculations
- Actual benefits depend on your complete earnings history
- Create an account at ssa.gov for your official estimate
- Benefits are adjusted annually for inflation (COLA)
Understanding Social Security
When to Claim
You can claim as early as 62 (reduced benefits) or delay until 70 (maximum benefits). Each year you delay past FRA increases benefits by 8%. There's no benefit to waiting past 70.
Spousal Benefits
A spouse can claim up to 50% of the higher earner's FRA benefit, or their own benefit, whichever is greater. Coordination of claiming strategies can maximize household benefits.
Working While Claiming
If you claim before FRA and work, benefits may be temporarily reduced if you earn above $22,320 (2024). After FRA, there's no earnings limit and no reduction.
Frequently Asked Questions
When can I start collecting Social Security?
- Age 62: Earliest, but benefits reduced up to 30%
- Full Retirement Age (66-67): 100% of your benefit
- Age 70: Maximum benefit (132% of FRA amount)
There's no benefit to waiting past age 70.
How is my benefit calculated?
Social Security uses your 35 highest-earning years:
- Earnings are indexed for inflation
- Average Indexed Monthly Earnings (AIME) is calculated
- A formula with "bend points" determines your Primary Insurance Amount (PIA)
- PIA is adjusted based on when you claim
Should I take Social Security at 62 or wait?
| Consider claiming early (62) if: | Consider waiting (67-70) if: |
|---|---|
| Health issues/shorter life expectancy | Good health/longevity in family |
| Need the income now | Have other income sources |
| Spouse has higher benefit | You're the higher earner |
| Want to invest the money | Want guaranteed income increase |
What is Full Retirement Age?
| Birth Year | Full Retirement Age |
|---|---|
| 1943-1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960+ | 67 |