Social Security Break-Even Calculator: Claim at 62, 67, or 70?
Calculate the break-even age for claiming Social Security at 62, 67, or 70. See exactly when delaying benefits pays off based on your life expectancy.
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Frequently Asked Questions
When should I claim Social Security?
Every year you delay claiming past 62 increases your benefit by 5–8%. Delaying from 62 to 70 increases your monthly benefit by up to 77%. The break-even age — where lifetime benefits equalize — is typically around 78–82. If you expect to live past 80 and don't need the income early, delaying to 70 is usually optimal.
What is the Social Security break-even age?
The break-even age is when the cumulative lifetime benefits from a delayed claim surpass those from an early claim. For example, if claiming at 67 gives $2,000/month and claiming at 62 gives $1,400/month, the break-even is roughly age 78–79 — you'd receive $72,000 more by age 80 by waiting.
How does Social Security affect a FIRE retirement plan?
Social Security can dramatically extend your portfolio's life. If you plan to spend $60,000/year and expect $24,000/year in SS, you only need to withdraw $36,000 from your portfolio — a 2.4% rate on a $1.5M portfolio, much safer than 4%. Including SS in your plan significantly lowers your required FIRE number.
Can I claim Social Security at 62 and still work?
Yes, but if you're under full retirement age (67) and earn above $22,320 (2025), $1 in benefits is withheld for every $2 you earn above that limit. Benefits are recalculated upward once you reach full retirement age, so you don't permanently lose them — but it complicates planning.
Should I include Social Security in my FIRE number?
Conservative planners exclude SS entirely from their FIRE number as a buffer against benefit cuts. Moderate planners include 50–75% of their expected SS benefit starting at 67. Our calculator lets you model any SS amount and claim age so you can find the strategy that matches your risk tolerance.