How to use this calculator
- Enter your birth year. This sets your full retirement age, when you can get 100% of your benefit.
- Estimate your benefit from your salary and working years, or — for the most accurate result — enter your benefit at full retirement age from your Social Security statement at ssa.gov/myaccount.
- Choose the age (and months) you plan to start benefits, from 62 to 70, and the age you want to plan to for lifetime totals.
- Open the spousal benefit section to estimate what your spouse could receive based on your record.
- Compare the monthly benefit and lifetime total at each claiming age in the chart and table, and note your breakeven age.
How it's calculated
Your benefit at full retirement age is your primary insurance amount (PIA). From a salary, the calculator estimates your average indexed monthly earnings (AIME): your highest 35 years of earnings, each capped at the 2026 wage base of $184,500, divided by 420 months. Years not worked count as zero.
The PIA formula is 90% of AIME up to $1,286, plus 32% of AIME between $1,286 and $7,749, plus 15% above $7,749, rounded down to the next dime. These are the 2026 bend points.
Claiming before full retirement age reduces your benefit by 5/9 of 1% for each of the first 36 months early and 5/12 of 1% for each month beyond that. Waiting past full retirement age adds delayed retirement credits of 2/3 of 1% per month (8% a year) up to age 70.
A spousal benefit is up to 50% of your PIA at the spouse's full retirement age, minus the spouse's own PIA. It's reduced by 25/36 of 1% per month for the first 36 months early and 5/12 of 1% after that, and it doesn't grow past full retirement age.
Lifetime totals multiply the monthly benefit by the number of months from your claiming age to the age you plan to. The breakeven age is when the total from a later claim catches up with the total from an earlier one. Both ignore cost-of-living adjustments, taxes, and investment returns.
Assumptions
- All figures are in today's dollars. The salary estimate assumes your pay stays at the same level relative to national average wages for your whole career unless you enter a different raise, and uses today's wage base and bend points for every year.
- Your actual benefit is based on your real earnings record and the bend points for the year you turn 62. Your Social Security statement at ssa.gov is the best source for your benefit amount.
- You need 40 work credits — about 10 years of work — to qualify for retirement benefits on your own record. The calculator doesn't check your credits.
- Not modeled: the earnings test if you claim early while working, taxation of benefits, the family maximum, survivor benefits, Medicare premiums, and future cost-of-living adjustments.
- Results are estimates for planning only and aren't financial advice.
Frequently asked questions
What is the best age to claim Social Security?
There's no single answer. Claiming at 62 gives you the smallest check for the longest time; waiting to 70 gives you the largest check for the shortest time. If you expect to live past your early 80s, are in good health, and can afford to wait, delaying usually pays more over a lifetime. If you need the income or have health concerns, claiming earlier can make sense.
What is my full retirement age?
It's 67 if you were born in 1960 or later. For people born from 1955 through 1959, it's 66 plus 2 months for each year after 1954 — for example, 66 and 6 months if you were born in 1957.
How much is my benefit reduced if I claim at 62?
If your full retirement age is 67, claiming at 62 cuts your benefit by 30%. A $2,000 benefit at 67 becomes $1,400 at 62, $1,600 at 64, and $2,480 if you wait until 70. The reduction is permanent.
How much more do I get for waiting until 70?
For anyone born in 1943 or later, each year you wait past full retirement age adds 8% to your benefit, up to age 70. With a full retirement age of 67, waiting until 70 gives you 124% of your full benefit for life. There's no extra credit for waiting past 70.
What is the Social Security breakeven age?
It's the age at which the total benefits from claiming later catch up with the total from claiming earlier. For example, comparing 62 with 70, the breakeven is typically around age 80–81. If you live beyond it, waiting pays more in total.
What is the maximum Social Security benefit in 2026?
The maximum benefit for someone claiming at full retirement age in 2026 is $4,152 a month. To get it, you need 35 years of earnings at or above the Social Security wage base, which is $184,500 in 2026.
How is the spousal benefit calculated?
A spouse can get up to 50% of the worker's full-retirement-age benefit, minus the spouse's own benefit if they have one. It's reduced if the spouse claims before their own full retirement age, and it doesn't grow after that. The worker generally must have filed for their own benefits before the spouse can receive a spousal benefit.
Can I work while collecting Social Security?
Yes. But if you're under full retirement age, Social Security withholds $1 for every $2 you earn above $24,480 in 2026, or $1 for every $3 above $65,160 in the year you reach full retirement age. The withheld amount isn't lost — your benefit is recalculated higher once you reach full retirement age.
How much did Social Security benefits increase for 2026?
Benefits rose 2.8% for 2026 as a cost-of-living adjustment (COLA). COLAs are applied every year once you're eligible, which this calculator doesn't add — its results are in today's dollars.
Are Social Security benefits taxable?
They can be. Up to 85% of your benefits may be subject to federal income tax, depending on your combined income — half your benefits plus your other income. Some states also tax benefits. This calculator shows benefits before any tax.
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Disclaimer: This calculator provides estimates for educational purposes only and is not financial, tax, or legal advice or an offer of credit. Actual payments depend on your lender, loan terms, taxes, and insurance. Consult a qualified professional before making financial decisions.