Social Security Calculator: 62 vs 67 vs 70
Compare your monthly check and lifetime total for every claiming age from 62 to 70, find your break-even age, and see what your spouse and survivor would get.
Read the full answer — method, rates and figures
Quick answer: For anyone born in 1960 or later, full retirement age is 67. Claiming Social Security at 62 pays 70% of your full benefit for life, and waiting to 70 pays 124%, because each year of delay past full retirement age adds 8%.
On a $2,000 full benefit that is $1,400 a month at 62, $2,000 at 67 and $2,480 at 70. Waiting from 62 to 67 breaks even at about age 78 and 8 months, and waiting from 67 to 70 at about 82 and 6 months: if you expect to live past those ages, the later claim pays more in total.
Source: SSA Office of the Chief Actuary; SSA, Delayed Retirement Credits.
When should you take Social Security?
Claiming at 62 pays 70% of your full benefit for life if your full retirement age is 67; waiting to 70 pays 124%. The later you claim, the bigger every check, and on a full retirement age of 67 the break-even age falls between about 78 and 8 months and 82 and 6 months. If you expect to live past it, waiting pays more in total and leaves a bigger survivor benefit to your spouse. If you need the money, or your health is poor, claiming earlier can be the better choice.
Last updated: October 2026
Sources: SSA early retirement reduction · SSA delayed retirement credits · SSA spousal benefits · SSA 2026 COLA fact sheet
📋 Educational estimate. Your exact benefit comes from your earnings record; check your my Social Security statement at ssa.gov.
Monthly at 67
$2,000
100% of full benefit
Best age to live to 85
70
$476,160 lifetime
Break-even vs 62
78y 8m
claiming at 67
Full retirement age
67
born 1964
Living to 85, claiming at 70 pays the most: $476,160 in total. Waiting from 62 all the way to 70 breaks even at about age 80 and 5 months.
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Monthly at 67
$2,000
Best claiming age
70
Lifetime to 85
$476,160
Full retirement age
67
Social Security at 62 vs 67 vs 70: your numbers
Monthly benefit and total received to the end of age 85, for every claiming age, in today's dollars.
| Claim at | Monthly | % of full | Total to 85 |
|---|---|---|---|
| 62 | $1,400 | 70% | $403,200 |
| 63 | $1,500 | 75% | $414,000 |
| 64 | $1,600 | 80% | $422,400 |
| 65 | $1,733 | 86.7% | $436,800 |
| 66 | $1,867 | 93.3% | $448,000 |
| 67 | $2,000 | 100% | $456,000 |
| 68 | $2,160 | 108% | $466,560 |
| 69 | $2,320 | 116% | $473,280 |
| 70 ★ | $2,480 | 124% | $476,160 |
Social Security break-even calculator: 62 vs 67 vs 70
The break-even age is when the bigger checks from a later claim have made up for the years of checks you skipped. On a $2,000 full benefit with a full retirement age of 67, claiming at 62 pays $1,400 a month and claiming at 67 pays $2,000; the two totals meet at about age 78 and 8 months. Waiting from 67 to 70 ($2,480 a month) breaks even at about 82 and 6 months, and waiting from 62 to 70 at about 80 and 5 months. The ages barely move with the size of the benefit, because every claim age is a fixed share of the same amount. Valuing earlier money more pushes them later: set a discount rate above to see how much.
Break-even age for every claiming pair
Born 1960 or later, $2,000 full benefit, in today's dollars. The last column is the chance that someone alive at the earlier age lives to the first birthday past the break-even, from SSA's period life table.
| Claim | Monthly | Break-even | Lives past it (M / F) |
|---|---|---|---|
| 62 vs 63 | $1,400 → $1,500 | 77 | 71% / 80% |
| 62 vs 65 | $1,400 → $1,733 | 77y 8m | 68% / 77% |
| 62 vs 67 | $1,400 → $2,000 | 78y 8m | 65% / 75% |
| 62 vs 70 | $1,400 → $2,480 | 80y 5m | 58% / 69% |
| 65 vs 67 | $1,733 → $2,000 | 80 | 64% / 74% |
| 65 vs 70 | $1,733 → $2,480 | 81y 8m | 57% / 68% |
| 67 vs 68 | $2,000 → $2,160 | 80y 6m | 63% / 72% |
| 67 vs 70 | $2,000 → $2,480 | 82y 6m | 55% / 66% |
| 68 vs 70 | $2,160 → $2,480 | 83y 6m | 52% / 63% |
| 69 vs 70 | $2,320 → $2,480 | 84y 6m | 48% / 59% |
Best age to take Social Security: the odds of outliving the break-even
A 62-year-old man has about a 65% chance of reaching 79, the first birthday past the 62-vs-67 break-even, and a 62-year-old woman about 75%. For someone who reaches 67, the odds of passing the 67-vs-70 break-even (age 83) are about 55% for men and 66% for women. Living to 90, waiting from 62 to 67 pays $88,800 more in total, and from 67 to 70 $48,960 more. These are population averages from a period table, which understates how long today's 62-year-olds will live, so good health or long-lived parents tilt the answer further toward waiting. To put your own odds in, use the life expectancy calculator.
Social Security break-even if you invest the early checks
If you would invest the checks you get by claiming early, the break-even moves later. The return here is after inflation, because benefits rise with the COLA.
| Real return | 62 vs 67 | 67 vs 70 | 62 vs 70 |
|---|---|---|---|
| 0% a year | 78y 8m | 82y 6m | 80y 5m |
| 1% a year | 79y 9m | 83y 7m | 81y 6m |
| 2% a year | 81y 1m | 84y 11m | 82y 9m |
| 3% a year | 82y 9m | 86y 7m | 84y 5m |
| 4% a year | 85 | 88y 9m | 86y 7m |
Ages are break-even ages (y = years, m = months). Life-table odds: SSA 2023 period life table (2026 Trustees Report). Taxes on benefits and Medicare premiums are not included. If you need the income to cover bills before full retirement age, see when your savings can bridge the gap with the 401(k) withdrawal calculator.
Full retirement age by year of birth
| Born | Full retirement age | Benefit at 62 |
|---|---|---|
| 1943-1954 | 66 | 75% |
| 1955 | 66 and 2 months | 74.2% |
| 1956 | 66 and 4 months | 73.3% |
| 1957 | 66 and 6 months | 72.5% |
| 1958 | 66 and 8 months | 71.7% |
| 1959 | 66 and 10 months | 70.8% |
| 1960 or later | 67 | 70% |
If you were born on 1 January, use the previous year. Full retirement age is the age at which you receive 100% of your primary insurance amount, the figure shown on your Social Security statement.
Spousal and survivor benefits: why the higher earner often waits
A spouse can receive up to 50% of the worker's full benefit, but only after the worker has claimed, and the spousal amount gets no delayed credits. The survivor benefit is different: a widow or widower at full retirement age receives the deceased worker's actual benefit, including any delayed credits. If the worker claimed early, SSA pays the larger of the worker's reduced benefit or 82.5% of the full benefit. So when the higher earner waits to 70, the larger check lasts as long as either spouse lives, which is why the break-even for a couple is often later than for a single person.
Social Security earnings limit 2026: working while you collect
If you claim before full retirement age and keep working, SSA withholds $1 of benefits for every $2 you earn above $24,480 in 2026. In the calendar year you reach full retirement age the limit rises to $65,160 and $1 is withheld for every $3, counting only earnings before the month you reach it. The money is not forfeited: at full retirement age SSA recalculates your benefit to credit the months it withheld. If you plan to keep earning well above the limit, claiming early mostly delays your checks rather than giving you extra ones. For how Social Security fits a wider plan, see the retirement calculator and the early retirement calculator. For context, the maximum benefit at full retirement age in 2026 is $4,152 a month and the average retired worker receives $2,071.
Last reviewed 2 November 2026 by the Richify AI agent team.
Reviewed by Felix, Richify's AI CFO — an AI author, presented as one.
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The calculator applies SSA's own reduction and credit rules to the full-retirement-age benefit you enter:
- Claiming early: 5/9 of 1% less for each of the first 36 months before full retirement age, then 5/12 of 1% for each further month.
- Claiming late: 2/3 of 1% more for each month after full retirement age (8% a year), up to age 70.
- Spouse: up to 50% of the worker's full benefit, reduced by 25/36 of 1% a month for the first 36 months early and 5/12 of 1% beyond, with no delayed credits.
Amounts are in today's dollars, because the annual cost-of-living adjustment (2.8% for 2026) keeps benefits in step with inflation. Lifetime totals run from the month you claim to the end of the age you choose. The calculator uses whole ages, so "62" means 62 and 0 months; most people can start at 62 and 1 month at the earliest. Taxes on benefits and Medicare premiums are not included.
How to use this calculator
- Find your full-retirement-age benefit (your primary insurance amount) on your my Social Security statement at ssa.gov.
- Choose your year of birth, which sets your full retirement age.
- Pick the age you expect to live to, and optionally a discount rate if you want to value money received sooner more highly.
- Compare the monthly check and the lifetime total for every claiming age from 62 to 70, and read the break-even ages.
- Add a spouse to see the spousal and survivor benefit, and your earnings if you plan to keep working before full retirement age.
❓ Frequently Asked Questions
What is the best age to take Social Security?
There is no single best age; it depends mostly on how long you expect to live. For someone born in 1960 or later, claiming at 62 instead of 67 breaks even at about 78 and 8 months, and claiming at 70 instead of 67 breaks even at about 82 and 6 months.
If you are in good health and can afford to wait, a later claim usually pays more over a lifetime and gives a larger survivor benefit. If you need the income, have health problems or no other savings, an earlier claim can make sense.
Source: SSA Office of the Chief Actuary.
How do you calculate the Social Security break-even age?
Add up the checks you give up by waiting, then divide by how much more each later check pays. Claiming at 67 instead of 62 on a $2,000 full benefit skips 60 checks of $1,400, which is $84,000.
Each check at 67 is $600 bigger, so it takes 141 months after 67 to catch up: about age 78 and 8 months. The calculator above runs the same sum month by month for your own benefit and birth year.
Source: SSA Office of the Chief Actuary.
Is it better to take Social Security at 62 and invest it?
Only if you earn a high return and do not live long. Investing the early checks at a 3% return after inflation moves the 62-vs-67 break-even from about 78 and 8 months to about 82 and 9 months.
A 62-year-old has about a 51% (men) or 62% (women) chance of reaching age 83 on SSA's period life table. Delaying also buys a check that rises with inflation and lasts for life, which an investment account cannot promise.
Sources: SSA Office of the Chief Actuary; SSA period life table.
What is my full retirement age?
It depends on the year you were born: 66 for 1943-1954, rising by two months a year to 66 and 10 months for 1959, and 67 for anyone born in 1960 or later. If you were born on 1 January, use the previous year.
Full retirement age is when you get 100% of your primary insurance amount. Source: SSA, Benefit Reduction for Early Retirement.
How much is Social Security reduced if I claim at 62?
The benefit falls by 5/9 of 1% for each of the first 36 months before full retirement age and 5/12 of 1% for each extra month. With a full retirement age of 67, that is 60 months and a 30% cut, so you get 70% of your full benefit, permanently.
Cost-of-living increases still apply to the reduced amount. Source: SSA Office of the Chief Actuary.
How much more do I get if I wait until 70?
Delayed retirement credits add 8% for each year (2/3 of 1% a month) that you wait past full retirement age, for anyone born in 1943 or later. They stop at 70, so there is no reason to wait longer.
With a full retirement age of 67, claiming at 70 pays 124% of your full benefit. Source: SSA, Delayed Retirement Credits.
How much is the spousal benefit?
Up to 50% of the worker's full benefit (primary insurance amount), if the spouse claims at their own full retirement age. Claimed at 62 it drops to 32.5% of the worker's full benefit for a spouse whose full retirement age is 67.
The spousal benefit earns no delayed credits, so the spouse gains nothing by waiting past full retirement age. If the spouse's own benefit is higher, SSA pays that instead.
Source: SSA, Benefits for Spouses.
Can I work and collect Social Security before full retirement age?
Yes, but in 2026 SSA withholds $1 of benefits for every $2 you earn above $24,480. In the year you reach full retirement age the limit is $65,160 and $1 is withheld for every $3, counting only months before your birthday month.
From the month you reach full retirement age there is no limit. Withheld benefits are not lost: SSA raises your monthly benefit at full retirement age to credit the months it withheld.
Source: SSA 2026 COLA fact sheet.
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