Social Security Break-Even Calculator
Find the optimal age to start claiming Social Security.
Compare total benefits at age 62, 67, and 70 to see when delayed claiming pays off.
Social Security Analysis
Social Security Claiming Ages:
- Age 62: Earliest age. Benefit is reduced by up to 30%.
- Age 67: Full retirement age (FRA) for those born 1960+. You get 100% of your benefit.
- Age 70: Maximum benefit. You get 124% of your FRA benefit.
How benefits change:
- Before FRA: reduced ~6.67% per year for first 3 years, ~5% per year beyond that
- After FRA: increased 8% per year (delayed retirement credits) up to age 70
Break-even point: The age at which the total accumulated benefits from waiting exceed the total from claiming early.
Example: If your FRA benefit is $2,000/month:
- At 62: $1,400/month (but collecting for 5 extra years)
- At 67: $2,000/month
- At 70: $2,480/month
The break-even between 62 and 67 is typically around age 78-80. The break-even between 67 and 70 is typically around age 82-83.