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When should you claim Social Security?
See what each claiming age pays you — and your household — for life, with the rules SSA actually applies. Move a dial — every figure responds.
The monthly amount your statement shows at full retirement age (ssa.gov/myaccount). Not a reduced benefit you already receive.
Assumptions — COLA 2.50% after 2027, discount rate 0.00%
SSA's published cost-of-living adjustments through 2027 are applied as announced; this rate is only the assumption for the years after. The discount rate states lifetime totals in today's dollars; other income only affects the tax note.
Waiting until 70 would raise it to $3,634 a month — about $913 more, every month, for life.
The claiming decision is one piece of a retirement income plan. A quick conversation is the fastest way to see how it fits yours.
Talk it through with me (940) 255-6288 advisor@prospectmatch.netCompared with claiming at 62 that is +$192,925 over your lifetime, and +$0 compared with claiming at full retirement age.
Get a plain-English summary of these figures — what the comparison means, what the survivor picture is, and what the earnings test does.
- Claiming before full retirement age reduces the check for life (about 5/9 of 1% a month for the first 36 months, 5/12 of 1% beyond); each month after it adds 2/3 of 1% until 70.
- Break-even is where the smaller, earlier checks and the larger, later ones add up to the same total. Live past it and waiting paid more; it says nothing about which you will need sooner.
The complete year-by-year analysis at the ages you chose — monthly checks, the survivor picture, what working does, and how it compares with 62 and full retirement age — as a PDF from Financial Advisor.
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Year-by-year detail
| Year | You · age | Monthly | Paid this year | Running total |
|---|---|---|---|---|
| 2029 | 67 | $2,721 | $19,048 | $19,048 |
| 2030 | 68 | $2,789 | $33,470 | $52,518 |
| 2031 | 69 | $2,859 | $34,306 | $86,824 |
| 2032 | 70 | $2,930 | $35,164 | $121,988 |
| 2033 | 71 | $3,004 | $36,043 | $158,031 |
| 2034 | 72 | $3,079 | $36,944 | $194,976 |
| 2035 | 73 | $3,156 | $37,868 | $232,844 |
| 2036 | 74 | $3,235 | $38,815 | $271,658 |
| 2037 | 75 | $3,315 | $39,785 | $311,443 |
| 2038 | 76 | $3,398 | $40,780 | $352,223 |
| 2039 | 77 | $3,483 | $41,799 | $394,022 |
| 2040 | 78 | $3,570 | $42,844 | $436,866 |
| 2041 | 79 | $3,660 | $43,915 | $480,781 |
| 2042 | 80 | $3,751 | $45,013 | $525,794 |
| 2043 | 81 | $3,845 | $46,138 | $571,933 |
| 2044 | 82 | $3,941 | $47,292 | $619,225 |
| 2045 | 83 | $4,040 | $48,474 | $667,699 |
| 2046 | 84 | $4,141 | $49,686 | $717,385 |
| 2047 | 85 | $4,244 | $50,928 | $768,313 |
| 2048 | 86 | $4,350 | $52,201 | $820,514 |
| 2049 | 87 | $4,459 | $53,506 | $874,021 |
| 2050 | 88 | $4,570 | $54,844 | $928,865 |
| 2051 | 89 | $4,685 | $56,215 | $985,080 |
| 2052 | 90 | $4,802 | $24,009 | $1,009,089 |
Your full retirement age
Set by birth year: 66 for 1943–1954, rising two months a year to 67 for anyone born in 1960 or later. Your statement's benefit is the amount at that age.
Claiming earlier or later
You can claim from the month you are 62 throughout the whole month. Each month early reduces the benefit permanently; each month after full retirement age earns a delayed credit, paid the following January and all at once at 70.
Spouses
A spouse can receive up to half of the other's full benefit, reduced if taken early, on top of their own record. When the spouse's own benefit already exceeds that, there is no top-up.
Survivors
When one spouse dies, the survivor keeps the larger of the two benefits, including any delayed credits the higher earner built up — which is why the higher earner's claiming age matters most. If the deceased claimed early, SSA caps what the survivor can receive.
Working while receiving benefits
Before full retirement age, earnings above an annual limit withhold whole monthly checks ($1 for every $2 over; $1 for every $3 in the year you reach it). At full retirement age the withheld months are credited back and the benefit is recomputed higher.
Taxes and inflation
Every figure here is before tax; depending on your other income, up to 85% of benefits can be included in federal taxable income. Benefits rise with the cost-of-living adjustment each year, which this page projects at the rate in Assumptions.
- Estimates from the benefit amounts you entered, assuming You to 90. Cost-of-living adjustments use SSA's published COLAs through 2027, then 2.5% a year after that. Actual benefits will differ.
- Benefits are reduced or credited to the month for claiming before or after full retirement age; delayed credits are paid on SSA's January schedule; spousal and survivor benefits follow SSA's rules, including the cap when the deceased claimed early.
- All figures are before tax. Up to 85% of benefits can be included in federal taxable income depending on your other income.
- Not affiliated with, endorsed by, or connected to the Social Security Administration. For planning and educational purposes only — not financial, legal or tax advice. Discuss these results with your advisor.