Calculyn

Social Security Claiming Age Calculator

See how claiming Social Security early or late changes your monthly benefit.

$
years

Results update as you type.

Monthly benefit

$2,000

Full benefit

Percent of full benefit
100%
Yearly benefit
$24,000
Lifetime total (before COLA)
$432,000
Monthly benefit$2,000

Results are estimates for planning and are not financial advice.

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Quick answer

A $2,000 full benefit claimed at 62 becomes $1,400 a month; waiting until 70 raises it to $2,480.

How it works

For anyone born in 1960 or later, full retirement age is 67. Claiming early cuts benefits by up to 30%; waiting past 67 adds 8% per year until 70.

Formula

Early: −5/9% per month (first 36), −5/12% after. Late: +2/3% per month.

Assumptions & limitations

  • Full retirement age of 67 (born 1960 or later)
  • Excludes COLA, spousal benefits and the earnings test

Formula and assumptions reviewed October 2026 by the Calculyn team. How we build our calculators

Frequently asked questions

Where do I find my full benefit amount?

Your Social Security statement at ssa.gov shows your estimated benefit at full retirement age.

Does this include cost-of-living increases?

No — amounts are in today's dollars before annual COLA adjustments.