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Social Security Calculator

Calculate your Social Security benefits and find the optimal claiming age. See how delaying benefits can increase your lifetime income by up to 76%.

Estimate Your Benefits

Find this on your SSA statement

62 (Early)67 (Full)70 (Maximum)

Monthly Benefit

$2,400

Annual Benefit

$28,804

Lifetime (to age 85)

$518,465

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When Should You Claim Social Security?

The age you claim Social Security dramatically impacts your lifetime benefits. Claim at 62 and you'll receive reduced benefits. Wait until 70 and your benefits increase by 8% per year after your full retirement age.

Social Security Claiming Ages

Claiming AgeBenefit AdjustmentBest For
62~70% of full benefitHealth concerns, need income now
67 (FRA)100% of full benefitAverage life expectancy
70124% of full benefitGood health, other income sources

How Social Security Benefits Are Calculated

Your Social Security benefit is based on your 35 highest-earning years. The SSA calculates your Average Indexed Monthly Earnings (AIME), then applies a formula to determine your Primary Insurance Amount (PIA).

Factors That Affect Your Benefits:

  • Earnings history - Higher lifetime earnings = higher benefits
  • Claiming age - Early (62) vs. Full Retirement Age vs. Delayed (70)
  • Work while receiving - Benefits may be reduced if you work before FRA
  • Spousal benefits - You may be eligible for up to 50% of spouse's benefit

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Our full Social Security optimizer analyzes your complete financial picture—including retirement accounts, pension, and expenses—to find the claiming strategy that maximizes your lifetime income.

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Frequently Asked Questions

When should I claim Social Security benefits?

You can claim as early as 62 (reduced by ~30%), at full retirement age (67 for most people born after 1960), or delay until 70 for maximum benefits (a ~24% increase over FRA). The breakeven point is typically around age 80. If you expect to live past 80, delaying pays more overall. If you have health concerns or need income immediately, claiming early may make sense. Married couples should coordinate strategies — one spouse delaying while the other claims early can maximize household lifetime benefits.

How is my Social Security benefit calculated?

The SSA calculates your Average Indexed Monthly Earnings (AIME) using your highest 35 years of earnings (adjusted for inflation). This AIME is then run through a formula with "bend points" to determine your Primary Insurance Amount (PIA). In 2026, you receive 90% of the first $1,174, 32% of earnings between $1,174-$7,078, and 15% above $7,078. Years with zero earnings still count in the 35-year calculation and drag your average down — so working 35+ years is beneficial.

Can I work while collecting Social Security?

Yes, but if you claim before full retirement age (FRA), there's an earnings test: in 2026, if you earn above $22,320, $1 is withheld for every $2 earned over the limit. In the year you reach FRA, the limit is $59,520 with $1 withheld per $3 over. After FRA, there's no earnings limit. Important: withheld benefits aren't lost — they're recalculated at FRA and your monthly benefit increases to account for the withholding. Working longer can also increase your benefit by replacing lower-earning years in the 35-year calculation.

Are Social Security benefits taxed?

Up to 85% of your benefits can be taxed depending on your "combined income" (AGI + nontaxable interest + half your SS benefits). For individuals: under $25,000 — no tax; $25,000-$34,000 — up to 50% taxed; above $34,000 — up to 85% taxed. For married filing jointly: under $32,000 — no tax; $32,000-$44,000 — up to 50%; above $44,000 — up to 85%. Strategic Roth conversions before claiming SS can reduce your taxable income and minimize this tax hit.

What are spousal and survivor Social Security benefits?

A spouse can claim up to 50% of the higher earner's FRA benefit, even with little or no work history. You must be at least 62 and the primary earner must have filed. Survivor benefits are even more valuable: a surviving spouse can receive up to 100% of the deceased spouse's benefit (including delayed credits). This is a key reason for the higher earner to delay claiming — it maximizes the survivor benefit that protects the lower-earning spouse.

Will Social Security run out of money?

The Social Security Trust Fund is projected to be depleted around 2033-2035. However, this does NOT mean benefits go to zero. Ongoing payroll taxes would still fund approximately 77-80% of scheduled benefits. Congress has historically made adjustments (it happened in 1983), and most experts expect some combination of: gradually raising the retirement age, increasing the payroll tax cap, slightly reducing benefits for higher earners, or means-testing. It's reasonable to plan assuming you'll receive 75-80% of projected benefits.