Skip to main content
    CALCULATORiQ™

    Social Security Calculator

    Your FRA: Age 67.0
    2026 Wage Base: $176,100

    Your Information

    Check your Social Security statement for this amount

    Claiming Age Comparison

    Early (62)

    $1,750

    per month

    Lifetime Total

    $483,000

    Age 65

    $2,167

    per month

    Lifetime Total

    $520,000

    FRA (67)

    $2,500

    per month

    Lifetime Total

    $540,000

    Optimal

    Maximum (70)

    $3,100

    per month

    Lifetime Total

    $558,000

    Early Claiming Penalty (Age 62)

    -30.0%

    Permanent reduction from FRA benefit

    Delayed Credits (Age 70)

    +24.0%

    Permanent increase from FRA benefit

    Break-Even Analysis

    If you claim at 70 instead of 62, you'll break even around age 80.4. After that, waiting until 70 provides more lifetime income.

    Based on life expectancy of 85

    Claiming at age 70 maximizes your lifetime benefits

    $558,000

    Understanding Social Security Timing

    Full Retirement Age (FRA): The age at which you receive 100% of your benefit. For those born 1960+, FRA is 67. Earlier birth years have slightly lower FRAs.

    Early Claiming: You can claim as early as 62, but benefits are permanently reduced by about 6-7% per year before FRA.

    Delayed Credits: For each year you delay past FRA (up to 70), benefits increase by 8% per year.

    Spousal Benefits: A spouse can receive up to 50% of your FRA benefit if higher than their own. Survivor benefits can equal 100% of the deceased spouse's benefit.

    Educational Purposes Only

    This calculator provides estimates based on current Social Security rules. Actual benefits depend on your complete earnings history. For accurate projections, create an account at ssa.gov to view your Social Security statement. Consider consulting a financial advisor for personalized claiming strategies.