Compare claiming at 62, 67 or 70 · See your breakeven age · Spousal benefits · Lifetime totals
🗓️ Claim age comparison📊 Breakeven chart👫 Spousal benefits🔗 Shareable
Benefit at 67 (FRA)
$0
your PIA
Benefit at 70
$0
+24% delayed credit
Breakeven Age
—
70 vs 62
Spousal Benefit
$0
50% of your PIA
Your Social Security Info
$
Find on ssa.gov/myaccount — "Retirement Estimate"
affects years until each claiming age
used for lifetime totals85
708090100
historical avg ~2.5%2.5%
0%2.5%5%
Spousal Info (optional)
$
Enter 0 if no work record
Results
💡
Optimal Strategy
—
Claiming Age Comparison
Monthly @ 62
—
−30% reduction
Monthly @ 67 (FRA)
—
full benefit
Monthly @ 70
—
+24% delayed credit
Breakeven (70 vs 62)
—
live past this to win
Your Spousal Benefit
—
spouse's best option
Lifetime @ 70
—
to age 85
📊 Cumulative Lifetime Benefits — Claiming Age Comparison
Age 62Age 67Age 70
Hover for cumulative totals · ✕ marks where lines cross (breakeven age)
Social Security estimates are based on your stated PIA. Actual benefits depend on your full earnings history, SSA calculations, and future COLA adjustments. Not financial advice.
Social Security Guide — When to Claim, Breakeven Age & Spousal Strategy (2026)
The Social Security claiming decision is one of the most consequential financial choices you'll make in retirement. Claim at 62 and collect smaller checks sooner. Wait until 70 and collect checks 76% larger — but only if you live long enough to break even. The right answer depends on your health, finances, and life expectancy.
📋 2026 Social Security Key Numbers
Full Retirement Age (born 1960+)Age 67
Earliest claiming age62 (−30% penalty)
Maximum delayed retirement age70 (+24% bonus)
Maximum 2026 monthly benefit$4,873
Average monthly benefit (2026)~$1,900
COLA 20252.5%
The Breakeven Age: When Waiting Pays Off
If you claim at 70 vs 62, you give up 8 years of smaller checks for 8 more years of waiting, then collect much larger checks. The breakeven point — where cumulative 70 benefits surpass cumulative 62 benefits — is typically around age 80–82. If you expect to live past 82, delay. If health concerns suggest a shorter life, claim early.
Spousal Benefits Strategy
A spouse (even with no work history) can claim up to 50% of your PIA at their FRA. Unlike your own benefit, spousal benefits do not increase by delaying past your FRA — the max is always 50% of your PIA. If your spouse has a low own benefit, the optimal strategy is often: worker delays to 70 (maximizing both the worker's benefit and the survivor benefit), while spouse claims early at 62.
When should I claim Social Security?+
Delay if: you're in good health, have other income sources to bridge the gap, expect to live past 82, or want to maximize survivor benefits for a spouse. Claim early if: you have serious health issues, need the income immediately, are the lower-earning spouse and your partner will delay to 70, or you expect the program to change significantly. There's no universally "right" answer.
How is my Social Security benefit calculated?+
The SSA takes your 35 highest-earning years (adjusted for inflation), calculates your Average Indexed Monthly Earnings (AIME), then applies a progressive formula to get your PIA (Primary Insurance Amount). The formula replaces about 90% of low earnings, 32% of middle earnings, and 15% of high earnings. Your PIA is the benefit you receive at FRA (67 for those born after 1960).
Is Social Security taxable income?+
Potentially yes. If your "combined income" (AGI + non-taxable interest + 50% of SS benefits) exceeds $25,000 single / $32,000 married, up to 50% of your benefits are taxable. Above $34,000 single / $44,000 married, up to 85% is taxable. Roth conversions before claiming SS and careful withdrawal sequencing can minimize taxes on your benefits.
Can I still work and collect Social Security?+
Before FRA: yes, but with an earnings test. In 2026, collecting before FRA while earning more than ~$22,320: SSA withholds $1 for every $2 above the limit. Year you reach FRA: higher threshold. After FRA: no earnings test — work and collect full benefits simultaneously. Withheld amounts before FRA are returned as a permanently higher benefit once you reach FRA.
What is the Social Security COLA?+
COLA (Cost of Living Adjustment) is an annual increase tied to CPI-W inflation. In 2025: 2.5%. In 2024: 3.2%. In 2023: 8.7% (highest in 40 years). Historical average: about 2.5%. COLA applies to all Social Security recipients regardless of claiming age. The calculator lets you model different COLA assumptions.
📌 Live Summary
Monthly @ 62—
Monthly @ 67—
Monthly @ 70—
Breakeven (70 vs 67)—
Breakeven (70 vs 62)—
Spousal benefit—
📌 2026 SS Key Numbers
FRA (born 1960+)Age 67
Earliest claimAge 62
Early penalty (62)−30%
Delayed credit/yr+8%
Max benefit (70)$4,873
Avg benefit 2026~$1,900
💡 SS Strategy Tips
→Breakeven for claiming 70 vs 62 is ~age 81–82 — if you're healthy, wait
→Spousal max is 50% of your PIA — it never increases by waiting past FRA
→Delaying to 70 also maximizes the survivor benefit for your spouse
→Bridge with Roth or taxable assets while waiting to delay to 70