Social Security Calculator

Estimate your monthly Social Security retirement benefit at ages 62, 67 (Full Retirement Age), and 70 based on your earnings history.

Your Earnings Information

Current Age

Average Annual Earnings ($)

Average of your career earnings in today's dollars

Years Worked (max 35)

SSA uses your highest 35 earning years

Should You Claim Early or Wait?

Claiming at 62 locks in a permanent 30% reduction, but you receive payments 5 years sooner. Waiting until 70 gives you 24% more than FRA, permanently. The break-even point between claiming at 67 vs. 70 is roughly age 83. If you have reason to believe you will live past 83, delaying is usually the better financial decision. Your health, other retirement income, and spousal benefits all affect the optimal strategy.

How SSA Calculates Your Benefit

SSA inflation-adjusts (indexes) your earnings up to age 60, then uses the highest 35 years to compute your AIME. Missing years count as zero, each additional working year that replaces a zero increases your benefit. Your PIA is calculated with bend points that apply different percentages to ranges of AIME, making the formula highly progressive, lower earners replace a larger share of their pre-retirement income.

Frequently Asked Questions

You can collect as early as age 62 (with a permanent reduction) or as late as age 70 (with maximum delayed credits). Full Retirement Age (FRA) is 67 for anyone born in 1960 or later. Benefits claimed at 62 are permanently reduced by up to 30%; benefits delayed past FRA grow by 8% per year until 70.

⚠️ Important Disclaimer

USLegalCalc.com provides estimates and document templates for informational purposes only. Results are not legal advice and vary by jurisdiction. Always consult a licensed attorney before making legal decisions.