Social Security: When to Claim Calculator
Compare claiming Social Security at 62, full retirement age or 70, with break-even ages and total benefits.
The trade-off
You can claim Social Security from age 62, but the monthly benefit is cut for life if you claim before your full retirement age. For people born in 1960 or later it is 67. Waiting past full retirement age raises the benefit by 8% a year until age 70.
How the numbers work
At 62 with a full retirement age of 67 you get about 70% of the full benefit. At 70 you get about 124%. The break-even age is where the extra months of money from claiming early are caught up by the bigger checks from claiming later. If you live past it, waiting pays more in total.
Things to weigh
This compares totals in simple terms. It does not add cost-of-living increases, taxes on benefits, spousal or survivor benefits, or the time value of money. Health, other income and a spouse's benefit all matter. Look up your own full retirement age and benefit at ssa.gov.
Tax year: US 2025. Rates and limits are updated every year. Source: Social Security Administration: retirement age and benefit reduction. Last reviewed November 2026.
Tips and common mistakes
- Use your personal benefit from your ssa.gov statement.
- If you are in poor health, claiming earlier may pay more in total.
- A higher earner waiting can raise the survivor benefit for a spouse.
Learn more
Frequently asked questions
What is full retirement age?
67 for anyone born in 1960 or later. It is lower for earlier birth years.
How much does waiting add?
8% a year after full retirement age, up to age 70.
What is a break-even age?
The age where claiming later has paid the same total as claiming earlier.
Does it include cost-of-living increases?
No. Increases apply to both choices, so the picture stays similar.
Is this financial advice?
No. It is a comparison tool.
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