Social Security Benefits Estimator
Estimate your monthly benefit and compare claiming at age 62 vs FRA vs 70.
Your Information
Estimated Monthly Benefit at Age 67
$2,425/mo
$29,100/year · FRA: 67
At 62
$1,698
At FRA (67)
$2,425
At 70
$3,007
Claiming Age Comparison
| Claim Age | Monthly | Annual | Lifetime (to 85) |
|---|---|---|---|
| 62 (Early) | $1,698 | $20,376 | $468,648 |
| 67 (FRA) | $2,425 | $29,100 | $523,800 |
| 70 (Maximum) | $3,007 | $36,084 | $541,260 |
Break-Even Ages
Break-even is the age at which the later claiming strategy overtakes the earlier one in cumulative benefits.
With Cost-of-Living Adjustments (COLA)
Assuming 2.5% annual COLA, your benefit at age 67 would be approximately $3,261/mo in future dollars.
Benefits May Be Taxable
If your combined income exceeds $25,000 (single) or $32,000 (married), up to 85% of your Social Security benefits may be subject to income tax.
Disclaimer
- Estimates based on simplified PIA formula with 2026 bend points.
- Actual benefits depend on your full 35-year earnings history.
- Create a my Social Security account at SSA.gov for official estimates.
- Does not account for WEP/GPO (government pension offset).
How Social Security Benefits Are Calculated
Your benefit is based on your highest 35 years of earnings, adjusted for inflation. The SSA converts this into your Average Indexed Monthly Earnings (AIME), then applies a progressive formula (PIA) that replaces 90% of the first $1,226, 32% up to $7,391, and 15% above that. This means lower earners replace a higher percentage of their income.
When to Claim: 62 vs 67 vs 70
| Claiming Age | Effect | Best For |
|---|---|---|
| 62 (Earliest) | ~30% reduction | Poor health, need income now, shorter life expectancy |
| 67 (FRA) | Full benefit | Average health, balanced approach |
| 70 (Maximum) | ~24% increase | Excellent health, other income, long life expectancy |
The break-even age between claiming at 62 and 70 is typically around 80-82. If you expect to live past that age, waiting generally pays off. For married couples, the higher earner delaying to 70 maximizes the survivor benefit.
Spousal and Survivor Benefits
A spouse can claim up to 50% of the higher earner's benefit at FRA (or their own benefit, whichever is higher). Survivor benefits allow the widowed spouse to receive up to 100% of the deceased spouse's benefit. This makes the higher earner's claiming decision especially important for couples.
Working While Collecting
If you claim before FRA and continue working, the earnings test reduces your benefit by $1 for every $2 earned above $22,320 (2026). After FRA, there's no earnings limit — and any withheld benefits are added back to your monthly amount.
SSA — Create Your Account→Frequently Asked Questions
Will Social Security run out?
The Social Security trust fund is projected to be depleted around 2035, at which point incoming payroll taxes would cover about 80% of scheduled benefits. Congress is likely to act before full depletion — past adjustments include raising the FRA and taxing benefits.
Are Social Security benefits taxable?
Yes, if your "combined income" (AGI + nontaxable interest + 50% of SS benefits) exceeds $25,000 (single) or $32,000 (married filing jointly). Up to 85% of benefits can be taxed as ordinary income.
How do I check my estimated benefit?
Create a "my Social Security" account at SSA.gov to see your actual earnings record and benefit estimates. The SSA statement also shows disability and survivor benefits.
Planning for retirement? Use our 401(k) Calculator and Roth Conversion Calculator for a complete picture.