Social Security Calculator — Project Your Retirement Benefits
Estimate your Social Security retirement benefits based on earnings history and claiming age. See how delaying benefits from 62 to 70 increases your monthly check.
Social Security provides retirement income based on your 35 highest-earning years. The age you start claiming dramatically affects your monthly benefit: claiming at 62 reduces benefits by 30% while delaying to 70 increases them by 24% above your full retirement age amount. For someone with an average benefit of $1900/month at full retirement age this means $1330/month at 62 versus $2356/month at 70 creating a $1026 monthly difference that lasts your entire retirement.
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Key Information
| Parameter | Details |
|---|---|
| Average Monthly Benefit (2026) | $1,927 |
| Maximum Benefit at Age 67 | $3,822 |
| Maximum Benefit at Age 70 | $4,873 |
| Full Retirement Age | 67 (born 1960 or later) |
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Use Calculator NowFrequently Asked Questions
When should I claim Social Security?
If you need the income immediately or have health concerns claim at 62. If you are healthy and can afford to wait delaying to 70 maximizes lifetime benefits if you live past approximately age 82. The break-even age between claiming at 62 vs 67 is around 78. For married couples strategies like having the higher earner delay to 70 while the lower earner claims early can optimize total household benefits.
How is Social Security calculated?
Your benefit is based on your Average Indexed Monthly Earnings (AIME) from your 35 highest-earning years adjusted for wage inflation. Years with no earnings count as zero reducing your average. The Primary Insurance Amount (PIA) formula is progressive: 90% of first $1174 in AIME plus 32% from $1174-$7078 plus 15% above $7078. This is why lower earners replace a higher percentage of pre-retirement income.
Will Social Security run out?
The Social Security trust fund is projected to be depleted around 2033-2035 but this does not mean benefits disappear. Even without any congressional action ongoing payroll taxes would fund approximately 77-80% of promised benefits indefinitely. Most experts expect Congress to implement changes like raising the retirement age increasing payroll tax cap or adjusting benefits before full depletion occurs.
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Last updated: 24 March 2026