Retirement Planning Tool
Social Security
Break-Even Calculator
Find the optimal age to claim Social Security and maximize your lifetime benefits.
📊 Social Security Break-Even Calculator
$
$
$
Lifetime at 62
$0
Lifetime at FRA
$0
Lifetime at 70
$0
Best Option
—
When Should You Claim Social Security?
One of the most important financial decisions in retirement is when to start claiming Social Security benefits. You can claim as early as age 62 (with reduced benefits) or delay until age 70 (for maximum benefits). The Social Security break-even calculator helps you determine which option produces the most lifetime income based on your expected lifespan.
Benefit Amounts by Claiming Age
| Claiming Age | Monthly Benefit | vs Full Retirement Age | Best If You Live Past |
|---|---|---|---|
| Age 62 (Early) | ~70% of FRA | −30% | Consider if health is poor |
| Age 64 | ~80% of FRA | −20% | ~78 years |
| Age 66 (FRA) | 100% | Baseline | ~80 years |
| Age 68 | ~116% of FRA | +16% | ~82 years |
| Age 70 (Max) | ~124–132% FRA | +24–32% | ~83 years |
Key Rules to Know
| Rule | Details |
|---|---|
| Earliest claiming age | 62 years old (reduced benefits) |
| Full Retirement Age (FRA) | 66–67 depending on birth year |
| Maximum delay bonus | 8% per year after FRA up to age 70 |
| Spousal benefit | Up to 50% of partner's FRA benefit |
| COLA adjustments | Annual cost-of-living increases apply |
💡 Rule of Thumb: If you're in good health and expect to live past 82–83, delaying to age 70 typically maximizes your lifetime Social Security income.
Factors to Consider
| Factor | Claim Early (62) | Delay to 70 |
|---|---|---|
| Health status | Poor health / shorter life | Good health / longer life |
| Need for income | Immediate cash needed | Have other income sources |
| Spouse coordination | Lower-earning spouse claims early | Higher-earner delays to 70 |
| Still working? | Earnings limit applies | No restriction at FRA+ |
Search Keywords
social security break-even calculatorwhen to claim social securitysocial security age 62 vs 67maximize social security benefitssocial security delay calculatorsocial security optimal age