Social Security Break-Even Calculator
Find the age where claiming Social Security later finally pays off — and see how lifetime totals compare at every age from 62 to 90.
Find your benefit at ssa.gov/myaccount. Log in to see your estimated monthly benefit at your full retirement age — that's the number to enter below. It takes about 2 minutes to look up.
Claiming Social Security early means smaller monthly checks, but you collect for longer. Claiming late means bigger checks, but fewer years to collect. The break-even age is when lifetime totals cross — if you live past it, waiting paid off. Enter your numbers to find yours.
Social Security Break-Even — Frequently Asked Questions
- The break-even age is the point where the cumulative lifetime benefits from claiming Social Security later equal the cumulative benefits from claiming earlier. If you live past the break-even age, waiting to claim was the better financial decision. If you pass away before it, claiming early would have put more money in your pocket.
- For most people, the break-even age for claiming at 62 versus 70 is roughly age 80 to 82, though the exact age depends on your specific benefit amount and full retirement age. Our calculator shows the precise break-even point and the full year-by-year comparison table for your numbers.
- Claiming at 62 instead of your full retirement age (FRA) permanently reduces your benefit. For someone with an FRA of 67, claiming at 62 means a 30% reduction. The reduction is 5/9% per month for the first 36 months before FRA, then 5/12% per month beyond 36 months.
- Delayed retirement credits increase your benefit by 8% per year (2/3% per month) for every year after your full retirement age that you delay. If your FRA is 67, waiting until 70 increases your benefit by 24% compared to your FRA amount. No additional credits accrue after age 70.
- There is no universal answer — it depends on your health and life expectancy, whether you need the income now, whether you are still working, your spouse's situation and survivor benefit strategy, and your other retirement income sources. The break-even calculator gives you the financial crossover point; your personal circumstances determine the right choice for you.
- Create a free my Social Security account at ssa.gov/myaccount. Your statement shows your estimated monthly benefit at different claiming ages: 62, FRA, and 70. The "at full retirement age" amount is what you enter in this calculator.