$
From your statement at ssa.gov
The age you’d like the money to last to
More options· Working while claiming
$
A year, while claiming before full retirement age
Claiming at 67
$2,000 a month
Your full benefit: 67 is your full retirement age.
- Total by 85
- $432,000
- Pays most by 85
- Age 70
- Beats claiming at 62 from
- 78 and 8 months
What this means
Each year you wait between 62 and 70 raises your benefit for life: by 5% to 6.7% a year up to your full retirement age, then 8% a year until 70. Waiting until 70 rather than claiming at 62 pays off if you live past about 80 and 4 months; waiting from 67 to 70 pays off past 82 and 6 months.
If you’re married and the higher earner, waiting also raises what your spouse would get as a survivor, for life. Claiming early can make sense if you need the income, your health is poor, or your savings would otherwise run low.
At each age
| Claim at | A month | Total by 85 |
|---|---|---|
| 62 | $1,400 | $386,400 |
| 63 | $1,500 | $396,000 |
| 64 | $1,600 | $403,200 |
| 65 | $1,733 | $415,920 |
| 66 | $1,866 | $425,448 |
| 67 (full) | $2,000 | $432,000 |
| 68 | $2,160 | $440,640 |
| 69 | $2,320 | $445,440 |
| 70 | $2,480 | $446,400 |
Total by 85
$446,400$223,200$0
626364656667686970
Total benefits
Assumptions in this estimate
- In today’s dollars: benefits rise each year with the cost-of-living adjustment, whichever age you claim at. Your full retirement age is 67 for people born in 1964.
- Ages are whole years from your birthday; you can also claim in any month between them.
- Your statement assumes you keep earning about what you do now until you claim. Stopping work early can lower your benefit.
- The earnings test uses the 2027 limit of $25,560 a year: $1 is held back for every $2 over it, and $1 for every $3 over $67,920 in the year you reach full retirement age. It ends at full retirement age.
- Spouse’s and survivor benefits, and the 2027 Medicare premium taken from benefits, aren’t included.