Configure Inputs

1,980
19502000
$2.00K
$
$500.00$5.00K
85
70100

Claiming Early (Age 62)

$1,400.00/mo

Lifetime: $386,400

Full Retirement Age (67)

$2,000.00/mo

Lifetime: $432,000

Maximum Benefit (Age 70)

$2,480.00/mo

Lifetime: $446,400

Based on living to age 85.

Monthly Benefit Comparison

Wealth Compounding Projection

Visualizing how your principal amount and interest grow over time.

Waiting until 70 increases your monthly check significantly, but you receive fewer checks over your lifetime.

Deep Dive & FAQ

When Should You Claim?

Deciding when to start collecting Social Security benefits is one of the most important retirement decisions you'll make. You can start as early as age 62, or wait until age 70.

Age 62 (Early)

You get checks sooner, but they are permanently reduced (up to 30% less than your full benefit).

Full Retirement Age

Usually 66 or 67. You get your standard "Primary Insurance Amount" (PIA).

Age 70 (Delayed)

You get a permanently increased benefit (8% increase per year of delay).

The Break-Even Concept

If you claim at 62, you receive more checks but smaller amounts. If you wait until 70, you receive fewer checks but much larger ones. The Break-Even Age is the point where the total lifetime payout of waiting catches up to the early claiming strategy. Usually, this is around age 80-82. If you expect to live longer than this, waiting usually pays off.