Social Security Breakeven Calculator
Compare total benefits when claiming at 62, 67, or 70. See when waiting pays off.
How breakeven works
Claiming early (62) means more years of payments but a smaller monthly check. Claiming later (67 or 70) means fewer years but a higher check. The breakeven age is when total benefits from waiting catch up. Live past breakeven and delaying was the better choice; shorter lifespan favors claiming early.
Live past breakeven → waiting pays off. Shorter life expectancy → claiming early may be better.
Social Security full retirement age (FRA)
| Birth year | FRA |
|---|---|
| 1943–1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 or later | 67 |
Claiming at 62 gives about 70% of FRA benefit if FRA is 67. Claiming at 70 gives 124% of FRA benefit. Use this breakeven calculator to compare total benefits.
Typical breakeven ages
| Comparison | Typical breakeven age |
|---|---|
| 62 vs 67 (FRA) | ~78–79 |
| 62 vs 70 | ~80–83 |
| 67 vs 70 | ~82–84 |
Exact breakeven depends on your benefit amounts. Enter your numbers in the calculator above for your specific result.
Social Security and taxes
Up to 85% of Social Security benefits can be taxable depending on combined income (AGI + nontaxable interest + half of benefits). Single: 50% taxable if combined income $25K–$34K; 85% above $34K. Married filing jointly: 50% if $32K–$44K; 85% above $44K. Use our tax bracket calculator to estimate taxes. Delaying may increase your benefit, but also increases taxable amount—factor this into breakeven.
Common questions
Where do I get my benefit estimates?
Your my Social Security account at ssa.gov shows estimated benefits at 62, 67 (FRA), and 70. Or use our Social Security calculator to estimate from your earnings history.
Does claiming early affect my spouse?
Yes. Survivor benefits are based on the higher earner's benefit. Claiming early permanently reduces your benefit, which affects what your surviving spouse receives. The higher earner delaying can increase survivor benefits.