Social Security Break-Even Calculator

How it is calculated

The early claim collects money while the late claim waits; the break-even is when the late claim's higher payments have made up that head start.

head start = (late age − early age) × 12 × early benefit
months to catch up = head start ÷ (late benefit − early benefit)
break-even age = late age + months to catch up ÷ 12
total by 85 = (85 − claiming age) × 12 × monthly benefit

Ages are in years (decimals work, such as 62.5) and the benefits are the monthly amounts you expect at each age, in dollars. Totals are plain sums: no cost-of-living increases, no interest on the money, no taxes. Both ages must be between 62 and 70, the late age must come after the early age, and the late benefit must be higher than the early one; otherwise no result appears. The tool does not check that the amounts follow Social Security rules; those figures come from your own statement.

Common mistakes

• Entering the same monthly amount for both ages. Delaying only helps if the late benefit is higher; equal or lower amounts give no result.
• Entering annual amounts. Both benefit fields are monthly, and the tool multiplies by 12 itself.
• Treating the break-even age as a prediction of when you will die. It is the age after which the late claim has collected more in total; living beyond it favours waiting, dying before it favours claiming early.
• Using benefit figures that do not belong to the ages. The late amount should be your estimate at the late age, not the early one; the tool checks only that it is higher, not that it is realistic.
• Entering an age outside 62 to 70, such as 60 or 72, or a late age that is not after the early age. These show no result because claiming is only possible within that window.