KalkWise
Retirement

Social Security Benefits Calculator

Estimate your Social Security benefit at different claiming ages and find the break-even point.

Updated June 2026 · Editorial standards

Your details

Benefit at 67
$2,281
/month
Lifetime to age 85
$492,679
Benefit at 70· /month
$2,828
Benefit at 62· /month
$1,597

Claiming at age 67 gives you $2,281/month. Waiting until 70 would give you $2,828/month — $547 more per month. Break-even vs claiming at 62: age 80.3.

Monthly benefit by claiming age (to age 85)

Estimated lifetime payout to age 85

By the KalkWise Editorial Team Reviewed for accuracy Updated June 2026

What is the social security calculator?

In short

Your Social Security benefit depends on your 35 highest-earning years, your Full Retirement Age (FRA), and when you claim. Claiming at 62 reduces your benefit by up to 30%; delaying to 70 increases it by 8% per year past FRA.

This calculator estimates your monthly Social Security retirement benefit at ages 62, 67, and 70 based on your average indexed monthly earnings (AIME). It shows the break-even age between claiming strategies and projects lifetime cumulative payouts.

How to use this calculator

  1. 1Enter your current age and expected retirement age.
  2. 2Enter your estimated annual earnings or your AIME from your Social Security statement.
  3. 3Select your Full Retirement Age (FRA) — 66 for those born 1943–1954, 67 for those born 1960 or later.
  4. 4Compare monthly benefits and lifetime payouts at ages 62, 67, and 70.
  5. 5Check the break-even age to see when delaying starts paying off.

The formula

PIA=90%×AIME(first $1,174)+32%×AIME($1,174–$7,078)+15%×AIME(above $7,078)
benefit=PIA×(1±claiming adjustment)
PIA is calculated using 2024 bend points: 90% of the first $1,174 of AIME, 32% of AIME from $1,174–$7,078, and 15% above $7,078. Claiming before FRA permanently reduces your benefit; delaying past FRA increases it 8%/year up to age 70.
PIA
— Primary Insurance Amount — your full benefit at FRA
AIME
— Average Indexed Monthly Earnings from your 35 highest-earning years
FRA
— Full Retirement Age (66–67 depending on birth year)

Worked example

The scenario

gives

The result

Common use cases

  • Deciding when to claim Social Security
  • Comparing early vs. delayed claiming strategies
  • Projecting retirement income alongside 401k and IRA
  • Calculating spousal benefit optimization

Limitations & assumptions

  • Does not include spousal or survivor benefits
  • Actual benefit depends on your complete 35-year earnings record from SSA
  • Does not account for COLA (cost-of-living adjustments)
  • Government policy changes could affect future benefits

Frequently asked questions

It depends on your health, other income, and break-even analysis. Claiming at 62 gives you more years of payments but at a 25–30% reduction. Waiting until 70 maximizes your monthly amount by 24–32% over FRA. If you're healthy and have other income sources, delaying often pays off after the break-even age (typically 80–82).

Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.