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.
Inputs
Find this on your SSA statement at ssa.gov/myaccount.
Key outputs
Estimated FRA benefit
$2,500
Best claiming age (to life expectancy)
70
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
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