Social Security Benefits Estimator

Compare claiming at 62, full retirement age (67), and 70 side by side. See lifetime totals, break-even ages, COLA growth, and spousal context in one view.

If your FRA benefit is $2,500/month: claiming at 62 gives $1,750/month ($483,000 lifetime to 85), claiming at 70 gives $3,100/month ($558,000 lifetime to 85). Break-even age between 62 and 70 is approximately 81.

Inputs

Current age

Benefit estimate input

Estimated monthly benefit at FRA

Find this on your SSA statement at ssa.gov/myaccount.

Expected age at death / life expectancy (85)

Filing status

COLA assumption (%)

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Key outputs

Estimated FRA benefit

$2,500

Best claiming age (to life expectancy)

Break-even 62 vs 67

Age 79

Break-even 67 vs 70

Age 83

If you live past about 83, claiming at 70 generally gives the highest lifetime income.

Claiming age comparison

Metric	Age 62	Age 67 (FRA)	Age 70
Monthly benefit	$1,750	$2,500	$3,100
Annual benefit	$21,000	$30,000	$37,200
Total by age 80	$378,000	$390,000	$372,000
Total by age 85	$483,000	$540,000	$558,000
Total by age 90	$588,000	$690,000	$744,000
Total by age 85	$483,000	$540,000	$558,000

COLA projection (2.5% annual)

Projected monthly benefit by age 85: age 62 claim $3,088.07, age 67 claim $3,899.15, age 70 claim $4,489.72.

2026 assumptions: FRA 67, max taxable earnings $168,600, and PIA bend points at $1,174 / $7,078 AIME.

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How benefits are calculated

FRA is assumed at age 67 for those born 1960 or later.
Claiming at 62 applies about a 30% reduction versus FRA.
Delaying from FRA to 70 applies delayed retirement credits (~8% per year).
Lifetime totals are compared across ages 62/67/70 to show break-even points.

When to claim: planning factors

Health and longevity expectations often drive break-even outcomes.
Need for current income may favor earlier claiming.
Spousal and survivor benefit coordination can shift the optimal strategy.
Taxation of benefits and other retirement income should be reviewed together.

Sources

Data and assumptions align with official publications. For verification and current figures:

Social Security Administration — Benefits, claiming ages, COLA

What's Next?

Model retirement drawdown and income coverage over time.Stress-test purchasing power with long-run inflation scenarios.Estimate how extra savings can supplement delayed claiming.

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