Social Security Break-Even Calculator
Compare Social Security benefits at different claiming ages. Find your break-even age and see how timing affects total lifetime benefits.
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When to Claim Social Security
You can start Social Security benefits as early as age 62 or as late as age 70. Claiming early means smaller monthly checks for a longer period. Delaying means larger checks for a shorter period. The "break-even age" is when the total benefits from the later claiming strategy surpass the earlier one.
How Benefits Change by Claiming Age
Age 62: Benefits reduced by ~30% from Full Retirement Age (FRA) amount. Age 67 (FRA): Full benefit amount. Age 70: Benefits increased by ~24% above FRA amount (8% per year of delay from 67 to 70). After 70, there's no additional increase.
Break-Even Analysis
Claiming at 62 vs 67: The break-even is typically around age 78-80. If you live past this age, delaying to 67 pays more in total. Claiming at 67 vs 70: Break-even is around age 80-83. If you live past 83, delaying to 70 is optimal.
Factors Beyond the Math
Health: If you have serious health concerns, claiming earlier may be smarter. Spouse: Survivor benefits are based on the higher earner's benefit — delaying can protect a surviving spouse. Other income: If you have sufficient retirement savings (check our Retirement Longevity Calculator), delaying is usually optimal. Working: If you claim before FRA while working, benefits may be temporarily reduced.
Frequently Asked Questions
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How Social Security Works
At 62: −30%. At 70: +24%. Average: ~$1,900/month. Break-even: 78–80.