When should I claim Social Security?
Your monthly benefit changes by roughly 5-7% for every year you claim early or late — anywhere from age 62 to 70. Enter the monthly benefit from your SSA statement to see what you'd get at every claiming age, your lifetime total to an assumed longevity, and which age maximizes it. Everything runs in your browser.
A simplified approximation using SSA's published actuarial adjustment factors, not a benefit estimate or financial advice. It ignores COLA, continued earnings before claiming, spousal and survivor benefits, and taxation of benefits — see ssa.gov for an official estimate.
How this calculator works
Social Security first sets your primary insurance amount (PIA) — the benefit you'd get at your full retirement age (FRA), which is 66-67 depending on birth year. We back into your PIA from the monthly benefit and age you enter, then apply SSA's statutory adjustment to every claiming age from 62 to 70:
- Claim early (before FRA): reduced by 5/9 of 1% per month for the first 36 months, then 5/12 of 1% per month beyond that — about 6-7% per year.
- Claim at FRA: 100% of your PIA.
- Claim late (after FRA, up to 70): increased by 2/3 of 1% per month — 8% per year — in delayed retirement credits.
We then multiply each age's monthly benefit by the months you'd collect it before your assumed longevity age, to get a lifetime total, and flag whichever claiming age produces the largest one. Living longer favors claiming later; a shorter expected lifespan favors claiming earlier.
Keep the plan honest
Planomy factors your claiming age into your full retirement projection alongside your other accounts, withdrawals, and taxes — not just Social Security in isolation.
Frequently asked questions
What is the best age to claim Social Security?
The best claiming age depends on your benefit amount, health, life expectancy, spouse, and need for income. Claiming early starts checks sooner but permanently reduces the monthly benefit; delaying increases it until age 70.
What does the break-even age mean?
The break-even age is the age when waiting to claim has paid enough larger monthly checks to catch up with claiming earlier. It is useful, but it should not be the only factor because survivor benefits and portfolio withdrawals also matter.
Does this include taxes on Social Security benefits?
No. The calculator compares gross benefit amounts. Depending on your other income, part of your Social Security benefit may be taxable, and that can change the after-tax result.
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