Compare claiming at 62, full retirement age, and 70 — with the breakeven age.
About the Social Security calculator
You can claim Social Security as early as age 62 at a permanently reduced benefit, or delay as late as 70 for larger checks boosted by delayed-retirement credits. Claiming later means a bigger monthly amount but fewer years of payments. This calculator compares claiming at 62, your full retirement age, and 70, and finds the breakeven age and the claiming age that maximizes your lifetime benefit for a given life expectancy.
Frequently asked questions
What is the Social Security breakeven age?
The age at which the larger checks from claiming later overtake the running total you'd have collected by claiming earlier. Live past it and delaying paid off; fall short and claiming early won.
How much does waiting to claim increase my benefit?
Each year you delay past full retirement age adds roughly 8% in delayed-retirement credits, up to age 70. Claiming at 62 instead permanently reduces your monthly benefit by about 25–30%.
Should I claim Social Security at 62 or 70?
If you expect a long life or want maximum longevity protection, delaying to 70 maximizes monthly income. If you have health concerns or need the cash sooner, claiming earlier can win. This tool compares the lifetime totals for your situation.