Social Security Break-Even Calculator
Should you claim at 62, 67, or 70? Compare any two claiming ages to see when the higher benefit catches up — and which strategy wins long-term.
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Social Security Break-Even Calculator
Compare claiming ages to find your optimal strategy
Find yours at ssa.gov/myaccount
Early Claim
Late Claim
Claim at 62
$1,400
/month (70% of PIA)
Claim at 70
$2,480
/month (124% of PIA)
Break-Even Age
83
Waiting until 70 pays off if you live past 83. By 85, you gain $32,796 more.
Monthly Difference
+$1,080/mo by waiting
= $12,960/year more income
Cumulative Benefits Over Time
The lines cross at the break-even point (with 2.5% annual COLA)
Important Notes
- • Benefits shown are gross (before taxes). Up to 85% of SS may be taxable.
- • The earnings test may withhold benefits if you work before FRA.
- • Delayed claiming also increases survivor benefits for your spouse.
- • FIRE consideration: Early claiming adds to MAGI, potentially affecting ACA subsidies before 65.
How Benefits Change by Claiming Age
For someone with a $2,000/month PIA and Full Retirement Age of 67:
| Claim Age | % of PIA | Monthly Benefit | vs FRA |
|---|---|---|---|
| 62 | 70% | $1,400 | -30% |
| 63 | 75% | $1,500 | -25% |
| 64 | 80% | $1,600 | -20% |
| 65 | 86.7% | $1,733 | -13.3% |
| 66 | 93.3% | $1,867 | -6.7% |
| 67 (FRA) | 100% | $2,000 | FRA |
| 68 | 108% | $2,160 | +8% |
| 69 | 116% | $2,320 | +16% |
| 70 | 124% | $2,480 | +24% |
THE MATH
Before FRA: -6.67%/year (first 3 years), -5%/year (years 4-5)
After FRA: +8%/year (delayed retirement credits, up to age 70)
Understanding the Break-Even Point
The break-even age is when the cumulative total from a delayed, larger benefit surpasses the cumulative total from an early, smaller benefit. Before this age, early claiming is ahead. After it, delayed claiming wins — and keeps winning.
62 vs 67
Break-even around age 78-80. You give up 5 years of payments but get 43% more per month forever.
62 vs 70
Break-even around age 80-82. The biggest gap: 124% vs 70% of PIA. Massive payoff if you live past 82.
67 vs 70
Break-even around age 82-84. Only 3 years of delay for 24% more per month. Often the easiest "yes."
Social Security Strategy for Early Retirees
ACA Subsidy Cliff Warning
Claiming Social Security before 65 adds to your Modified Adjusted Gross Income (MAGI). This can push you over the 400% FPL threshold and cost you $10,000-$15,000/year in healthcare subsidies. If you're on an ACA plan, consider delaying until at least 65 (Medicare).
Roth Conversion Window
The gap between early retirement and age 70 is your prime Roth conversion window. Delaying SS keeps your taxable income low, letting you convert more at the 10-12% bracket.
Plan with our 72(t) calculator →$0 Earning Years Impact
SSA averages your highest 35 years. Retiring after 15-20 years of high earnings? The progressive formula means you've likely captured 70-80% of your maximum benefit already.
Coast FIRE calculator →Frequently Asked Questions
What is the Social Security break-even age?
The break-even age is when cumulative benefits from delaying surpass cumulative benefits from claiming early. For example, claiming at 62 vs 67 typically breaks even around age 78-80. Claiming at 62 vs 70 breaks even around 80-82. If you live past the break-even age, delaying was the better financial choice.
Should I claim Social Security at 62, 67, or 70?
It depends on your health, savings, and income needs. Claiming at 62 gives 70% of your benefit permanently. Waiting until 70 gives 124%. For most people with average longevity and no urgent income needs, delaying to at least FRA (67) is optimal. If you're in excellent health, delaying to 70 typically provides the highest lifetime benefit.
How much does Social Security increase by delaying?
Before FRA: benefits are reduced by ~6.67% per year for the first 3 years early, then 5% per year after that. After FRA: benefits increase by 8% per year (delayed retirement credits) up to age 70. Delaying from 62 to 70 increases your monthly check by about 77% (from 70% to 124% of PIA).
What is PIA (Primary Insurance Amount)?
PIA is your monthly Social Security benefit at Full Retirement Age (FRA). It's calculated from your highest 35 years of earnings using the SSA's progressive formula. Find your estimated PIA at ssa.gov/myaccount. In 2026, the maximum PIA at FRA is $4,152/month.
How does early retirement (FIRE) affect Social Security?
If you retire early and stop paying into Social Security, your benefit will be lower because the SSA averages your highest 35 years of earnings. Years with $0 income count as zeros. However, due to the progressive benefit formula, the impact is often less severe than expected if you had 15-20 years of high earnings.
Does the COLA adjustment affect the break-even age?
Yes. Higher COLA generally favors delaying because the larger base benefit gets multiplied by the same COLA percentage. With a 2.8% COLA (2026 rate), delayed benefits grow faster in absolute dollars than early benefits. A 0% COLA makes the break-even age slightly later.
Should I claim Social Security early if I'm doing Roth conversions?
Generally no. Claiming early adds to your Modified Adjusted Gross Income, which can push Roth conversions into higher tax brackets and trigger the "tax torpedo" (up to 85% of SS becomes taxable). Many FIRE practitioners delay SS to maximize the low-tax window for Roth conversions between work exit and age 70.
What is the 2026 Social Security earnings test?
If you claim before FRA and still work, the SSA withholds $1 for every $2 earned above $24,480 (2026 limit). In the year you reach FRA, the limit is $65,160 and the withholding rate drops to $1 for every $3. After FRA, there's no earnings limit. Withheld benefits are eventually credited back at FRA.
Plan Your Full Retirement Strategy
Social Security is one piece. Combine it with our other tools for a complete plan.
Not financial advice. This calculator is for educational purposes only and does not constitute financial, tax, or investment advice. Results are estimates based on the inputs you provide and historical data. Consult a qualified financial advisor for personalized guidance. Read our editorial guidelines.