Social Security break-even calculator

Claim early and get smaller checks for longer, or wait and get bigger ones. See the age where waiting starts to pay off.

In short: For anyone born in 1960 or later, claiming Social Security at 62 pays 70% of the full benefit, at 67 it pays 100% and at 70 it pays 124%. Waiting from 62 to 70 breaks even at about age 80; from 67 to 70 at about age 82.

Your numbers

Assumptions0% return on early benefits

Claiming at 70 pays the most to 85

Waiting from 62 to 70 pays off if you live past 80. Waiting from 67 to 70 pays off past 82.

If you claim at 62
$1,400/mo
If you claim at 67
$2,000/mo
If you claim at 70
$2,480/mo

What would change your result

  • If you only live to 78, claiming at 62 would have paid $29,640 more than waiting.
  • Investing early checks at 3% after inflation moves the 62-vs-70 break-even to 84.
  • Married? When the higher earner waits until 70, the survivor keeps that bigger check for life.

What-ifs worked out from your own numbers. Not personal financial advice.

  • Claim at 70
  • Claim at 67
  • Claim at 62

For people born in 1960 or later (full retirement age 67). Amounts in today’s dollars; Social Security adjusts for inflation each year.

Year-by-year table
AgeTotal, claim at 62Total, claim at 67Total, claim at 70
62$1,400$0$0
63$18,200$0$0
64$35,000$0$0
65$51,800$0$0
66$68,600$0$0
67$85,400$2,000$0
68$102,200$26,000$0
69$119,000$50,000$0
70$135,800$74,000$2,480
71$152,600$98,000$32,240
72$169,400$122,000$62,000
73$186,200$146,000$91,760
74$203,000$170,000$121,520
75$219,800$194,000$151,280
76$236,600$218,000$181,040
77$253,400$242,000$210,800
78$270,200$266,000$240,560
79$287,000$290,000$270,320
80$303,800$314,000$300,080
81$320,600$338,000$329,840
82$337,400$362,000$359,600
83$354,200$386,000$389,360
84$371,000$410,000$419,120
85$387,800$434,000$448,880
86$404,600$458,000$478,640
87$421,400$482,000$508,400
88$438,200$506,000$538,160
89$455,000$530,000$567,920
90$471,800$554,000$597,680
91$488,600$578,000$627,440
92$505,400$602,000$657,200
93$522,200$626,000$686,960
94$539,000$650,000$716,720
95$555,800$674,000$746,480

A worked example

With these inputs:

  • Monthly benefit at 67$2,000
  • Plan to live to85
  • Return on early benefits0%

the calculator returns Claiming at 70 pays the most to 85. Waiting from 62 to 70 pays off if you live past 80. Waiting from 67 to 70 pays off past 82.

Its first suggestion: If you only live to 78, claiming at 62 would have paid $29,640 more than waiting.

Key facts

  • Full retirement age is 67 for people born in 1960 or later.
  • Delaying past full retirement age adds 8% a year until 70.
  • For married couples, the higher earner delaying to 70 also raises the survivor benefit for life.

How it's calculated

For anyone born in 1960 or later, claiming at 62 pays 70% of your full benefit, at 67 it pays 100%, and at 70 it pays 124%, for life.

We add up the checks month by month for each claiming age. The break-even age is when the later claim's total catches up with the earlier one. If you would invest early checks instead of spending them, set a return: growth on early benefits pushes the break-even later.

Not included: spousal and survivor benefits, the earnings test if you claim early while still working, and taxes on benefits. For married couples, the higher earner waiting often protects the survivor.

Questions people ask

What is the Social Security break-even age?

The age at which the total of bigger, later checks catches up with the total of smaller, earlier ones. Without investing early checks, waiting from 62 to 70 breaks even around age 80.

Is it better to claim at 62 or 70?

Waiting pays more if you live past the break-even age, typically around 80 to 83. Claiming early can make sense with poor health, no other savings, or a short family life expectancy.

What is my full retirement age?

67 for anyone born in 1960 or later. It is between 66 and 67 for people born from 1955 to 1959.

Where do I find my benefit at full retirement age?

Create a my Social Security account at ssa.gov. Your statement shows estimates at 62, at full retirement age and at 70.

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