Social Security age 62 vs 67 calculator
Compare claiming Social Security at age 62 vs full retirement age 67. Calculate your 30% reduction and lifetime break-even age. Free.
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Claiming Age Comparison
Based on official Social Security Administration (SSA) formulas for individuals born in 1960 or later (Full Retirement Age 67). Delayed retirement credits stop accumulating at age 70.
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About this tool
Compare the financial impact of claiming Social Security early at age 62 versus waiting until your Full Retirement Age (FRA 67) or age 70.
How to use it
- 1 Enter your estimated monthly benefit at Full Retirement Age (age 67).
- 2 Use the slider to see how claiming earlier or later adjusts your monthly benefit.
- 3 Review the comparison table showing lifetime payouts by age 85.
Questions
Is it better to take Social Security at 62 or 67?
Claiming at 62 provides income 5 years sooner, but permanently reduces your monthly check by 30%. If you expect to live past age 78 to 80, waiting until age 67 or 70 typically provides higher cumulative lifetime payouts.
What is my Full Retirement Age (FRA)?
For anyone born in 1960 or later, Full Retirement Age under Social Security rules is 67.
How much do benefits decrease if I claim at age 62?
Claiming at age 62 permanently reduces your monthly benefit by 30% compared to claiming at age 67.
How much do benefits increase if I wait until age 70?
For each year you delay claiming beyond age 67 up to age 70, your benefit earns an 8% delayed retirement credit, reaching 124% of your FRA benefit at age 70.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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