Social Security Benefit Estimator
Get a rough estimate of your monthly Social Security benefit and see how much claiming early or late changes the check.
Example: with Current annual income $70,000 · Your birth year (for exact FRA) 1960 · Claim option 1 — age 62 yrs · Claim option 1 — monthly payment $1,800 → Estimated monthly benefit: $2,578.
- Annual benefit$30,933
- Benefit at full retirement age$2,578 / mo
- Your full retirement age67 yrs (70% at 62, 124% at 70)
Computed by the calculator below using its default values. Change any input to see your own numbers.
Compare two claiming ages
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Learn moreWhen you claim matters
Social Security replaces more of your income the lower your earnings, thanks to a progressive benefit formula. When you claim is a huge lever: claiming at 62 permanently cuts the check by ~30%, while waiting until 70 boosts it by ~24% over the full-retirement-age amount. Your exact Full Retirement Age (FRA) depends on your birth year — 66 for those born 1943–1954, gradually rising to 67 for anyone born 1960 or later — which shifts the precise early/delayed percentages slightly. Every year, benefits also get a cost-of-living adjustment (COLA) tied to inflation, so the real (inflation-adjusted) gap between claiming ages is smaller than the nominal dollar gap suggests.
How it’s calculated & sources
We estimate your benefit base (PIA) by applying the 2025 bend-point formula to your earnings, then adjust for your chosen claiming age. This is a rough estimate that assumes steady career earnings.
Source: SSA 2025 PIA bend-point formula (90% / 32% / 15%). Your actual benefit is based on your 35 highest-earning, inflation-indexed years — check ssa.gov for a precise figure.
Results update as you type and are general estimates, not personalized financial, tax, medical or legal advice. Verify with a professional.
Frequently asked questions
How accurate is this?
It’s a ballpark — real benefits use your full 35-year earnings history, indexed for inflation. Your official estimate at ssa.gov is authoritative.
Should I claim early or wait?
Waiting pays more per month and hedges longevity, but claiming early makes sense if you need the income or have health concerns. Break-even is typically the early-to-mid 80s.
What is a break-even age and how does COLA affect it?
It’s the age at which cumulative benefits from claiming later catch up to and overtake cumulative benefits from claiming earlier — commonly in the early-to-mid 80s. Cost-of-living adjustments (COLA) raise both options’ checks each year, so they don’t change which age wins, but they do change today’s dollars into tomorrow’s — use the compare tool above with your own claiming ages and estimated payments to see your break-even point.