RETIREMENT · SOCIAL SECURITY
Social Security Calculator
Estimate your monthly Social Security benefit at ages 62, full retirement age (FRA), and 70. Compare claiming strategies and find the break-even age for delaying benefits.
LAST REVIEWED · APR 08, 2026 · BY A. CHEN, CFP®
Your DetailsReset
Birth year
1965
19402000
Average annual earningsTop 35 years
$75,000
$10K$200K
Claiming age
67 yrs
6270
Live ResultsUpdated
At your claiming ageAge 67
$2,681/mo
Claim at 62Reduced benefit
$1,877/mo
Claim at FRAFull benefit
$2,681/mo
Claim at 70Maximum benefit
$3,324/mo
Break-even ageDelay to 70 vs claim at 62
80.4yrs
Cost comparison
At 62
$22,520
At FRA
$32,171
At 70
$39,892
Annual benefit comparison. Delaying to 70 can increase your benefit by up to 77% versus claiming at 62.
You need
$2,681 /mo
Est. cost
80.4
Your DetailsReset
Birth year
1965
19402000
Average annual earningsTop 35 years
$75,000
$10K$200K
Claiming age
67 yrs
6270
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How the Social Security calculator works
Your benefit starts with your Average Indexed Monthly Earnings (AIME) — your top 35 years of earnings, adjusted for wage inflation. The SSA applies a progressive formula with ‘bend points’ to compute your Primary Insurance Amount (PIA), which is your benefit at full retirement age.
Early vs delayed claiming
Claiming at 62 permanently reduces your benefit by up to 30% (for those with FRA of 67). Waiting until 70 increases it by 24% above your FRA amount. The break-even age tells you when the cumulative benefit from delaying surpasses the cumulative benefit from claiming early.
When to claim
- Claim early (62) if you need the income now or have health concerns
- Claim at FRA for the baseline benefit with no reduction or bonus
- Delay to 70 if you can afford to wait and expect to live past 80–82
Methodology. Calculates Primary Insurance Amount (PIA) using AIME and 2024 bend points ($1,174 / $7,078). Applies early claiming reduction (5/9% per month for first 36 months, 5/12% beyond) and delayed retirement credits (8% per year from FRA to 70). FRA determined by birth year per SSA rules.
Sources
- Social Security Administration — Retirement Benefits
- SSA Benefit Formula and Bend Points (2024)
- SSA Full Retirement Age table by birth year
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Frequently asked questions
What is my full retirement age? +
For anyone born 1960 or later, FRA is 67. For those born 1955–1959, it’s between 66 and 2 months and 66 and 10 months. Born before 1955, FRA is 66 or earlier.
How accurate is this estimate? +
This is an approximation. For your official estimate, create a my Social Security account at ssa.gov, which uses your actual earnings record.
Is Social Security taxable? +
Yes, up to 85% of your benefits may be taxable if your combined income exceeds $34,000 (single) or $44,000 (married filing jointly).
Can I work while collecting Social Security? +
Yes, but before FRA, benefits are reduced by $1 for every $2 earned above $22,320 (2024). After FRA, there’s no earnings penalty.
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