Social Security Break-Even Calculator

Optimal claiming age from break-even analysis.

Monthly Benefit at FRA ($)

Full Retirement Age

Expected Annual COLA (%)

Alternative Investment Return (%)

Life Expectancy

Tab to move between fields

Monthly Benefit at 62

$1,400.00

≈ 11 pairs of sneakers

Monthly Benefit at FRA$2,000.00

Monthly Benefit at 70$2,480.00

Break-Even: 62 vs FRA (age)82

Break-Even: 62 vs 70 (age)84

Break-Even: FRA vs 70 (age)86

Lifetime Total (claim at 62)$513,818.00

Lifetime Total (claim at FRA)$537,272.00

Lifetime Total (claim at 70)$533,654.00

Best Strategy Advantage$23,454.00

How to Use This Calculator

Enter your monthly benefit at FRA ($) from your Social Security statement.
Set your full retirement age (66-67 based on birth year) and expected annual COLA (%).
Enter an alternative investment return (%) and life expectancy.
Review monthly benefit at 62, FRA, and age 70, and break-even ages for each claiming strategy.
Delay claiming to age 70 if you are in good health -- benefits increase 8%/year from FRA to 70.

How the result changes with Monthly Benefit at FRA ($)

Monthly Benefit at FRA ($): Your estimated monthly benefit at full retirement age (from SSA statement).
Full Retirement Age: Your FRA: 66 if born 1943-1954, 67 if born 1960+. Between = 66 and months.
Expected Annual COLA (%): Expected cost-of-living adjustment. Historical average is ~2.5%; the 2026 SSA COLA is 2.8%.
Alternative Investment Return (%): Expected return if you invested the early benefits instead of spending.
Life Expectancy: Your estimated life expectancy for lifetime benefit comparison.

Monthly Benefit at 62: Reduced monthly benefit if claiming at age 62.
Monthly Benefit at FRA: Full monthly benefit at your full retirement age.
Monthly Benefit at 70: Enhanced monthly benefit with delayed retirement credits to age 70.
Break-Even: 62 vs FRA (age): Age at which claiming at FRA surpasses claiming at 62 in total benefits.
Break-Even: 62 vs 70 (age): Age at which claiming at 70 surpasses claiming at 62.
Break-Even: FRA vs 70 (age): Age at which claiming at 70 surpasses claiming at FRA.
Lifetime Total (claim at 62): Total benefits received if claiming at 62, through life expectancy.
Lifetime Total (claim at FRA): Total benefits received if claiming at FRA, through life expectancy.
Lifetime Total (claim at 70): Total benefits received if claiming at 70, through life expectancy.
Best Strategy Advantage: Dollar advantage of the best claiming strategy vs. the worst.

Identify Input Parameters
4 parameters
Monthly Benefit at FRA ($) = 2000, Full Retirement Age = 67, Expected Annual COLA (%) = 2.5, Alternative Investment Return (%) = 5 = 5 input(s) provided
Calculate Monthly Benefit at 62
Monthly Benefit at 62 = fraBenefit * (1 - totalReduction)
1400 = $1,400
Calculate Monthly Benefit at FRA
2000 = $2,000
Calculate Monthly Benefit at 70
Monthly Benefit at 70 = fraBenefit * (1 + delayedCredit)
2480 = $2,480