Social Security Optimizer

✦ Finance & Money

Use this when to take Social Security calculator to compare what you collect in total at each claiming age from 62 to 70, with break-even ages and, for couples, the survivor benefit. Enter the benefit at full retirement age from your SSA statement and the age you want to plan to.

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The formula

Total collected and break-even age

B(a) = PIA × (1 − early reduction)  or  PIA × (1 + 2/3% × months past FRA)
Total(a) = B(a) × 12 × (L − a)
Break-even T = (B₂·a₂ − B₁·a₁) ÷ (B₂ − B₁)   (months after 62, with a measured in months after 62)

B(a) is the monthly benefit when you claim at age a, PIA is your benefit at full retirement age, and L is the planning age you choose. The break-even is the month where the later claim has collected as much in total as the earlier one. With a real discount rate, each payment is first discounted back to age 62. Amounts are in today's dollars, before cost-of-living increases.

Calculating it by hand

Enter the monthly benefit shown for full retirement age on your my Social Security statement.
Enter your birth year so the page can look up your full retirement age.
Enter the age you want the totals added up to; this is your assumption, so try a few.
Choose Me and a spouse to add the spouse's own benefit and see what the surviving spouse would receive.
Read the total collected at 62, at full retirement age and at 70, and the break-even ages between them.
Open the table for every claiming age, and optionally add a real discount rate under Advanced.

Worked examples

Benefit of $2,000 at FRA, born 1960, totals to age 85

FRA is 67. Claiming at 62 is 60 months early: 36 × 5/9% + 24 × 5/12% = 30%, so $2,000 × 0.70 = $1,400 a month.
Claiming at 70 is 36 months late: 36 × 2/3% = 24%, so $2,000 × 1.24 = $2,480 a month.
Months paid to 85: 276 from 62, 216 from 67, 180 from 70.
Totals: 276 × $1,400 = $386,400; 216 × $2,000 = $432,000; 180 × $2,480 = $446,400.

Total by 85: $386,400 at 62 | $432,000 at 67 | $446,400 at 70 — claiming at 70 pays $14,400 more than 67

The same person, break-even ages

62 vs 67: ($2,000 × 60 months − $1,400 × 0) ÷ ($2,000 − $1,400) = 200 months after 62, which is age 78 and 8 months.
67 vs 70: ($2,480 × 96 − $2,000 × 60) ÷ ($2,480 − $2,000) = 246 months after 62, which is age 82 and 6 months.
62 vs 70: ($2,480 × 96) ÷ ($2,480 − $1,400) = 220.4 months after 62, which is age 80 and 4 months.

Break-even: age 78 yrs 8 mo (62 vs 67) | 82 yrs 6 mo (67 vs 70) | 80 yrs 4 mo (62 vs 70)

Couple: higher earner $2,000 at FRA, spouse's own benefit $800

Higher earner claims at 62: own check $1,400, survivor floor 82.5% × $2,000 = $1,650, so the survivor receives $1,650.
Higher earner claims at 70: own check $2,480, which is above the floor, so the survivor receives $2,480.
Compared with the spouse's own $800, the survivor gains $850 a month in the first case and $1,680 in the second.

Survivor monthly benefit: $1,650 if claimed at 62 | $2,480 if claimed at 70

Methodology

What a claiming-age comparison shows

Waiting raises the monthly check but shortens the time you collect it. The table shows where the totals cross, not which age is right for you.

Read sources and limits

How does claiming age change the monthly check?

Your monthly benefit depends on the month you start it. Claiming before full retirement age (FRA) cuts the check by 5/9 of 1% for each of the first 36 months early and 5/12 of 1% for each month beyond that. Claiming after FRA adds 2/3 of 1% for each month you wait, up to age 70.

The change is permanent: it does not revert at FRA, and nothing is added after 70. For someone with an FRA of 67 and a benefit of $2,000 at FRA, claiming at 62 means 60 months early: 36 months at 5/9 of 1% is 20%, and 24 months at 5/12 of 1% is 10%, so the check is $1,400. Claiming at 70 means 36 months late, which adds 24% for $2,480. The comparison table repeats this calculation for every age from 62 to 70.

What is a break-even age, and what does it leave out?

A break-even age is the age at which waiting has caught up. Claiming at 62 gives a head start: with the example above, 60 months at $1,400 is $84,000 in hand by 67. Claiming at 67 pays $600 more each month, and it takes 140 months to close that $84,000 gap, which is age 78 and 8 months.

After that point, the later claim has collected more in total. The figure is a comparison of two running totals, nothing more. It does not know whether you will reach that age, whether you can cover your costs until a later claim begins, or what the earlier checks would have earned if invested. Treat each break-even as a question to weigh against your own circumstances, not as a deadline.

Why does the planning age drive the answer?

Every total on this page stops at the planning age you enter, so changing it can change which claiming age comes out ahead. With a $2,000 benefit at FRA and a 1960 birth year, claiming at 67 totals $312,000 by age 80 against $297,600 for claiming at 70.

By 85 the order has flipped: $446,400 for 70 against $432,000 for 67. By 90 the gap is $595,200 against $552,000.

Nobody knows their own planning age. The SSA period life table shows how survival varies by age and sex, which is useful context, but it describes groups, not you. A practical use of the page is to run several ages, such as 80, 85 and 90, and see how sensitive the ranking is. If the answer changes between them, the choice depends on a judgement the calculator cannot make.

The optional real discount rate works the same way. It counts a dollar received sooner as worth more than a dollar received later, which favours earlier claiming, and moves every break-even age later.

How does the survivor benefit change the comparison for couples?

When one spouse dies, the survivor keeps the larger of the two benefits, not both. That makes the higher earner's claiming age matter for longer than their own lifetime. If the higher earner claimed early, the survivor receives the larger of the worker's reduced benefit and 82.5% of the worker's benefit at FRA.

If the higher earner waited, the delayed credits pass to the survivor. Take a higher earner with $2,000 at FRA and a spouse whose own benefit is $800. If the higher earner claims at 62, the survivor's check is $1,650. If the higher earner claims at 70, it is $2,480. The couple option on this page shows that figure for every claiming age. It assumes the survivor claims at their own full retirement age; survivors can claim reduced benefits earlier.

What does this comparison not see?

Several things that change the real decision are outside the table. Health and family history shape the planning age. Work matters because the earnings test can withhold benefits claimed before FRA while you earn above a limit. Up to 85% of benefits can be taxable income, depending on your other income, and Medicare premiums are usually taken from the check.

Spousal benefits and your other savings are not included either. This calculator gives an estimate under the assumptions you enter. The planning age and discount rate are yours, and the Social Security factors are the published ones. It is not financial, tax or investment advice and not a prediction; the law and your circumstances will differ. Your my Social Security statement holds your actual figures, and the Social Security Administration decides what you are paid.

Social Security Optimizer questions

What is the best age to claim Social Security?

There is no age that is best for everyone, and this page does not pick one. For a $2,000 benefit at full retirement age and a 1960 birth year, claiming at 70 totals $446,400 by age 85 against $432,000 at 67 and $386,400 at 62. By age 80 the order changes: $312,000 at 67, $302,400 at 62 and $297,600 at 70. The age you plan to reach decides which total is higher.

Should I take Social Security at 62 or 67?

Under the example assumptions, claiming at 62 pays $1,400 a month and claiming at 67 pays $2,000, which is 30% less for a full retirement age of 67. Claiming at 62 gives you 60 months of checks first, $84,000 in total, and the 67 claim catches up at age 78 and 8 months. Health, work and taxes can move that point, so compare with your own numbers.

What is the break-even age for Social Security?

It is the age at which a later claim has collected as much in total as an earlier one. With a $2,000 benefit at full retirement age of 67, it is 78 and 8 months for 62 against 67, and 82 and 6 months for 67 against 70. Adding a 3% real discount rate moves them to about 82 and 9 months and 86 and 6 months, because earlier money counts for more.

Is it better to take Social Security at 62 or 70?

Claiming at 70 pays $2,480 a month against $1,400 at 62 on a $2,000 benefit at full retirement age, which is 77% more each month. Claiming at 62 collects more in total until age 80 and 4 months. By age 85 the 70 claim is ahead by $60,000: $446,400 against $386,400. If you plan only to age 80, the 62 claim is ahead by $4,800.

How much does my benefit change if I claim early or late?

Claiming early cuts the check by 5/9 of 1% per month for the first 36 months and 5/12 of 1% per month after that. Waiting past full retirement age adds 2/3 of 1% per month, up to 70. With an FRA of 67 that is 70% of your benefit at 62 and 124% at 70. For a 1957 birth year, FRA is 66 and 6 months, giving 72.5% at 62 and 128% at 70.

What happens to my spouse's Social Security if I die first?

The surviving spouse keeps the larger of the two benefits, not both. If you were the higher earner with $2,000 at full retirement age and claimed at 70, the survivor receives $2,480 a month. If you claimed at 62, the survivor receives $1,650, which is 82.5% of $2,000. Either amount replaces a spouse's own $800 benefit, so the higher earner's claiming age affects the survivor for life.

Does a discount rate change when to claim Social Security?

It can. A real discount rate values money received sooner above money received later. At 3% over inflation and a plan to age 85, the example totals fall to about $280,031 for 62, $288,628 for 67 and $284,291 for 70, so 67 is ahead of both. With no discounting, 70 is ahead at $446,400. The default here is 0%, and you can change it under Advanced.

What age should I use for how long I will live?

No one can know it, which is why the page lets you enter any planning age and compare. The SSA period life table gives survival by age and sex as background, but it describes groups. Try 80, 85 and 90: for 67 against 70, the totals are $312,000 against $297,600, then $432,000 against $446,400, then $552,000 against $595,200. If the answer flips, the choice depends on that judgement.

Where do I find my benefit at full retirement age?

Your my Social Security statement at ssa.gov shows estimated monthly benefits at 62, at full retirement age and at 70. Enter the full retirement age amount here; it is your primary insurance amount. The statement assumes you keep earning at your current level until you claim, so the figure may differ from one based only on your past earnings. SSA holds your actual record.

What does this Social Security comparison leave out?

It leaves out taxes on benefits, which can reach 85% of the amount depending on other income, and Medicare premiums taken from the check. It also leaves out the earnings test for people who claim before full retirement age and keep working, spousal benefits, cost-of-living increases, which apply to every claiming age alike, and your other savings. Health and family history are yours to weigh.

Source notes

Method, sources & limitations

Every figure on this page comes from the formula above applied to the values you enter. Nothing is estimated from market data, and no result is a forecast. These are the sources behind the method and any fixed figures it uses:

Written and maintained by CalculatorManager Editorial, Editorial team. Figures last verified 2026-10-20.

Educational information only. Results are estimates produced from the assumptions you enter, and are not financial, tax, legal or medical advice. Check anything that matters against a qualified professional and the cited sources.