Calculator
Social Security Claiming
Compare claiming at 62, at full retirement age, and at 70, and see the lifetime dollar difference between them.
Your full retirement age would be 67.
Your primary insurance amount. Your Social Security statement at ssa.gov shows this figure.
Highest lifetime total through age 90
Claim at 70
$4,712 a month, $1,444,397 in total nominal benefits through age 90.
- Claiming at 62
- $2,660
- 70.0% of your full benefit.
- Claiming at 70
- $4,712
- 124.0% of your full benefit.
Waiting until 70 rather than claiming at 62 catches up in total nominal benefits at about age 84. Living past that age favors waiting; not reaching it favors claiming earlier. This compares benefits only, and ignores taxes, spousal and survivor benefits, and what the money could earn if invested.
Every claiming age side by side
| Claim at | Share of full benefit | First monthly benefit | Total through 90 |
|---|---|---|---|
| 62 | 70.0% | $2,660 | $1,272,325 |
| 63 | 75.0% | $2,850 | $1,296,590 |
| 64 | 80.0% | $3,040 | $1,313,707 |
| 65 | 86.7% | $3,293 | $1,349,915 |
| 66 | 93.3% | $3,547 | $1,376,775 |
| 67 | 100.0% | $3,800 | $1,394,650 |
| 68 | 108.0% | $4,104 | $1,421,438 |
| 69 | 116.0% | $4,408 | $1,437,886 |
| 70 | 124.0% | $4,712 | $1,444,397 |
What this calculator assumes
- Reductions for claiming early follow the published Social Security Administration formula: five ninths of one percent per month for the first 36 months before full retirement age, and five twelfths of one percent per month beyond that.
- Delayed retirement credits accrue at two thirds of one percent per month after full retirement age and stop at age 70.
- Full retirement age is derived from your birth year using the SSA schedule, which reaches 67 for anyone born in 1960 or later.
- Totals are nominal dollars with a level cost-of-living adjustment applied each year. They are not discounted to present value.
- The comparison covers your own retirement benefit only. It excludes income tax on benefits, spousal and survivor benefits, the effect of continuing to work before full retirement age, Medicare premium deductions, and what the money could earn if claimed early and invested.
This tool produces estimates for planning discussion only. It is not investment, tax, or legal advice, it does not account for your full situation, and it is not a projection of actual results. Investments involve risk and are not guaranteed.
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