Social Security Break-Even Calculator

Worked example

With a $2,000 FRA benefit at 67, claiming at 62 (~$1,400) versus 70 (~$2,480) typically breaks even in the late 70s/early 80s depending on COLA assumptions.

When to use this

• Deciding between claiming at 62 versus waiting to FRA or 70.
• Illustrating trade-offs in pre-retirement planning meetings.
• Sensitizing plans to living past break-even ages.

Common mistakes

• Using break-even age without considering spousal survivor benefits.
• Ignoring time value of early benefits invested.
• Assuming benefit estimates on statements never change with earnings.

How it works

Compares cumulative Social Security benefits for two claim ages and estimates when the delayed claim overtakes the earlier claim. Optionally derive both benefits from a FRA monthly amount using simplified SSA factors (5/9% per month early for the first 36 months, then 5/12%; 8%/year delayed credits to age 70). Optional COLA grows benefits in the cumulative totals.

Limitations

Estimates only for educational purposes. Not financial, tax, or legal advice. Verify figures with your lender, advisor, or official IRS/SSA sources before making decisions.

Privacy and file handling

Your data stays on your device and is not uploaded.