Social Security Calculator
Estimate your Social Security retirement benefits. Calculate monthly payments based on your earnings history, retirement age, and benefit claiming strategy.
Social Security Results
Benefit Comparison
Key Insights
Benefit Reduction: 0%
Lifetime Benefits: $0
Break-even Age: 0 years
Tip: Delaying benefits can significantly increase payments
Understanding Social Security Benefits
Social Security provides retirement, disability, and survivor benefits to millions of Americans. Retirement benefits are calculated based on your lifetime earnings and the age at which you begin claiming benefits.
How Benefits Are Calculated
Social Security uses a formula with three components:
- Primary Insurance Amount (PIA): Your benefit at Full Retirement Age
- Average Indexed Monthly Earnings (AIME): Your average earnings indexed for inflation
- Bend Points: Income thresholds that determine benefit calculation
Full Retirement Age
| Year of Birth | Full Retirement Age | Early Retirement (62) | Delayed Retirement (70) |
|---|---|---|---|
| 1943-1954 | 66 | 80% of PIA | 132% of PIA |
| 1955 | 66 + 2 months | 79.17% of PIA | 132.5% of PIA |
| 1956 | 66 + 4 months | 78.33% of PIA | 133% of PIA |
| 1957 | 66 + 6 months | 77.5% of PIA | 133.5% of PIA |
| 1958 | 66 + 8 months | 76.67% of PIA | 134% of PIA |
| 1959 | 66 + 10 months | 75.83% of PIA | 134.5% of PIA |
| 1960+ | 67 | 70% of PIA | 124% of PIA |
Claiming Strategies
- Early Retirement (Age 62): Reduced benefits but immediate income
- Full Retirement Age: 100% of your calculated benefit
- Delayed Retirement (Up to 70): Increased benefits for each month delayed
- Spousal Benefits: Higher of your benefit or 50% of spouse's benefit
- Survivor Benefits: 100% of deceased spouse's benefit
Tax Considerations
Up to 85% of Social Security benefits may be taxable depending on your income level.
- Combined Income: 50% of benefits + all other income + tax-exempt interest
- Tax Thresholds: $25,000 single, $32,000 married filing jointly
- State Taxes: Vary by state, some states tax Social Security
Maximizing Benefits
- Work Longer: Delay claiming to increase monthly benefits
- Coordination: Plan claiming with spouse for optimal benefits
- Windfall Elimination Provision: May reduce benefits if you receive a pension
- Government Pension Offset: May affect spousal/survivor benefits
Important: This calculator provides estimates only. For accurate benefit calculations, visit ssa.gov or contact the Social Security Administration. Benefits are subject to change based on legislation and your individual circumstances.