Social Security Calculator
See how claiming early or late changes your monthly benefit and lifetime total.
Benefit Details
Monthly Benefit at Claim Age
Early vs delayed claiming
Claiming at 62 can reduce your benefit by about 30% versus FRA, while delaying to 70 can raise it by about 24% (8% per year). Delaying wins in lifetime terms only if you live long enough — the calculator shows both the monthly and lifetime impact of your choice.
Social Security FAQ
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Social Security Calculator — when should you claim?
The age you claim Social Security can change your lifetime benefit by hundreds of thousands. This calculator applies the official reduction/increase percentages to show your monthly benefit and lifetime total at any claiming age from 62 to 70.
How claiming age changes your benefit
Claiming before Full Retirement Age (FRA, 67 for people born after 1960) reduces benefits by 5/9 of 1% per month for the first 36 months and 5/12 of 1% beyond.
Claiming at 62 reduces a $2,000 FRA benefit to about $1,400 — a 30% cut for life.
Delaying past FRA adds 8% per year up to age 70 — roughly a 24–32% increase for life.
The breakeven analysis
Claiming early pays more total early on, but delayed claiming catches up around age 80.
If you live past ~80–83, delayed claiming wins; under that, early claiming pays more total.
Health, spousal benefits and other income all matter — a $1,500+ early claim may also push you over the earnings limit if you keep working.
How to use this calculator
- Enter your planned claiming age (62–70).
- Enter your full retirement age (use 67 if born after 1960).
- Enter your benefit amount at full retirement age.
- Enter your life expectancy.
- Read your monthly benefit, lifetime total and change vs FRA.
Pro tips
- If married, coordinate: the higher earner delaying to 70 boosts survivor benefits.
- Avoid claiming while still earning above the annual limit (2025: $23,400) — benefits get clawed back.
- Use your health history to estimate longevity honestly.