How to use the Social Security calculator
- 1 Enter your average yearly earnings over your working life, in today's dollars.
- 2 Enter the years you have worked; Social Security uses your highest 35.
- 3 Choose the age you plan to claim, from 62 to 70.
- 4 Compare the benefit at 62, 67 and 70.
Worked example
Average earnings of $70,000 for 35 years, claiming at 67. AIME is about $5,833. The benefit is 90% of $1,286 ($1,157) plus 32% of the next $4,547 ($1,455), about $2,613 a month. Claiming at 62 would give about $1,829, while waiting until 70 would give about $3,240.
Choosing when to claim
- Full retirement age is 67 for anyone born in 1960 or later.
- Claiming at 62 cuts your benefit by up to 30% for life; waiting past full retirement age adds 8% a year until 70.
- Break-even: waiting usually pays off if you live past about 80 to 82, so health and family history matter.
- Spouses: the higher earner waiting also raises the survivor benefit the other spouse would receive.
- COLA: benefits rose 2.8% for 2026 to keep pace with inflation.
Your exact record is at ssa.gov with a my Social Security account. Subtract the benefit from your income goal in the Retirement Calculator, and if you plan to stop work early, see the FIRE Calculator.
Features
2026 PIA formula
90% of the first $1,286 of AIME, 32% up to $7,749 and 15% above.
Claiming age
Up to a 30% cut at 62 and an 8% a year increase after 67, up to 70.
Zero years count
Fewer than 35 years of work pulls the average down, as in the real formula.
When to use it
Retirement planning
Estimate income before checking your SSA statement. Plan the rest with the Retirement Calculator.
Claiming decisions
Compare claiming at 62, 67 and 70. Plan IRA withdrawals with the RMD Calculator.
Working longer
See the effect of extra years of earnings. Boost savings with the 401(k) Calculator.
Couples
Estimate each spouse's benefit. Retiring before 62? Use the FIRE Calculator.
Related Savings and Investing tasks
Frequently asked questions
How is my benefit calculated?
Social Security indexes your earnings for wage growth, averages your highest 35 years into average indexed monthly earnings (AIME), then applies a formula with bend points to get your primary insurance amount (PIA).
What is full retirement age?
67 for anyone born in 1960 or later.
How much less do I get at 62?
About 30% less than at full retirement age, permanently.
How much more if I wait until 70?
8% for each year after full retirement age, so 124% of your PIA at 70.
What is the 2026 COLA?
Benefits rose 2.8% in January 2026.
What is the maximum benefit?
About $4,152 a month at full retirement age in 2026, for people who earned at or above the wage base for 35 years.
Is this my exact benefit?
No. Your real benefit depends on your actual earnings record. Check your statement at ssa.gov/myaccount.
Is Social Security taxable?
Up to 85% of benefits can be taxable depending on your other income.
Can I work and collect benefits?
Yes. Before full retirement age, $1 is withheld for every $2 earned above $24,480 in 2026, and $1 for every $3 above $65,160 in the year you reach full retirement age.
What is a spousal benefit?
A spouse can receive up to 50% of the worker's PIA at full retirement age, reduced if claimed earlier.
How many credits do I need?
40 credits, about 10 years of work. In 2026 you earn one credit for each $1,890 of earnings, up to four a year.
What happens if I worked fewer than 35 years?
Missing years count as zero, which lowers your average. Working longer can replace zero or low years.
Results are estimates based on the official rates linked above. Confirm important figures with the issuing authority or a qualified adviser before you act on them.
Built and reviewed by Hamza Farooq, founder and lead developer
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