Finance & Economics / Personal Finance
Social Security Break-Even Calculator
FRA depends on your birth year. Most people born 1960+ have FRA of 67.
Check your estimate at ssa.gov/myaccount
Understanding Social Security Break-Even Analysis
What is break-even age? The age at which total lifetime benefits from claiming later surpass the total from claiming earlier.
Key Claiming Rules:
- Earliest claim age: 62 (with permanent reduction)
- Full Retirement Age (FRA): 66-67 depending on birth year
- Latest beneficial claim age: 70 (no increase after 70)
- Benefits increase 8% per year for each year delayed after FRA
- Benefits reduced ~6-7% per year for claiming before FRA
Other Important Factors:
- Earnings Test: If claiming before FRA while working, benefits may be reduced
- Spousal Benefits: May affect optimal claiming strategy for married couples
- Survivor Benefits: Higher earner delaying maximizes survivor benefits
- Taxes: Up to 85% of benefits may be taxable depending on income
- Medicare: Separate from Social Security; starts at 65 regardless of claiming age
Important: This calculator provides general guidance. Consult a financial advisor or Social Security representative for personalized advice based on your complete financial situation.
See Also
Other calculators in Personal Finance
Compound Interest Calculator
Open calculator
Loan Payment Calculator
Open calculator
Mortgage Calculator
Open calculator
Retirement Savings Calculator
Open calculator
Debt Payoff Strategy Calculator (Avalanche vs Snowball)
Open calculator
Compound Interest Calculator with Variable Contributions
Open calculator
Emergency Fund Months Calculator
Open calculator
Debt Avalanche vs Snowball Comparison Calculator
Open calculator
Loan Amortization with Extra Payments Calculator
Open calculator
Investment Compound Growth Calculator (Dollar Cost Averaging)
Open calculator
Take-Home Pay Calculator
Open calculator
Rent vs Buy Decision Calculator
Open calculator
Roth IRA Conversion Tax Impact Calculator
Open calculator
Required Minimum Distribution (RMD) Calculator
Open calculator
Pension Lump Sum vs Annuity Calculator
Open calculator
4% Rule Retirement Calculator
Open calculator
Backdoor Roth IRA Calculator
Open calculator
Mega Backdoor Roth Calculator
Open calculator