Planning Tool
Social Security Income Calculator
See how claiming between age 62 and 70 changes your monthly benefit, lifetime income and break-even timeline.
Your numbers
Edit any field below — the projection updates instantly.
Benefit by claiming age
- Selected Age (67) Monthly
- $3,000
- Selected Age (67) Annual
- $36,000
- Age 62 Monthly
- $2,100
- Age 67 Monthly
- $3,000
- Age 70 Monthly
- $3,720
All figures are shown in today's dollars, before any COLA growth is applied.
Full Retirement Age (67)
Pros
- 100% of your Primary Insurance Amount, with no reduction.
- No earnings test penalties, even if you keep working.
- Maximizes spousal benefits available on your record.
Cons
- Leaves the guaranteed 8%-per-year delayed credits on the table.
The baseline most other claiming ages are measured against.
Cumulative lifetime value by claiming age
By age 88, claiming at 67 produces $1,039,063 in cumulative, COLA-adjusted lifetime value.
Year-by-year schedule
| Age | Claim at 62 | Claim at 67 (FRA) | Claim at 70 |
|---|---|---|---|
| Age 62 | $25,200 | $0 | $0 |
| Age 63 | $51,030 | $0 | $0 |
| Age 64 | $77,506 | $0 | $0 |
| Age 65 | $104,643 | $0 | $0 |
| Age 66 | $132,459 | $0 | $0 |
| Age 67 | $160,971 | $36,000 | $0 |
| Age 68 | $190,195 | $72,900 | $0 |
| Age 69 | $220,150 | $110,723 | $0 |
Important disclosure
This calculator is an educational illustration only and does not represent an official quote or advice from the Social Security Administration. Actual benefits vary based on earnings history, taxability, and legislative changes.
To review your own earnings record and decide on a claiming strategy, talk with a licensed Precision Financial Planning advisor.
Schedule a Retirement Planning Analysis MeetingThere's more to this decision than the numbers above
This calculator models benefit amounts, inflation and investment growth — but it can't account for everything that goes into the right claiming decision for you. Your tax bracket in retirement, spousal and survivor benefits, other income sources, health and family longevity, and even future changes to Social Security law can all shift the right answer. A complimentary conversation with our team can help translate these numbers into a strategy built around your full financial picture.
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