A Social Security calculator estimates your monthly benefit based on your income, birth year, and the age you begin claiming.
Determines your full retirement age.
Used to estimate your lifetime earnings record.
The age you expect to stop working.
Spousal benefits may apply if you're married.
Claim as early as 62 or as late as 70. Your full retirement age is 67.
$35,733 per year · This is your full retirement age benefit.
Earliest, permanently reduced
Latest, with delayed credits
Estimates use current bend points and assume steady earnings over a 35-year record. Your actual benefit is based on your Social Security earnings statement.
These results are estimates, not predictions. They're calculated from the figures you entered and assume your rate of return and inflation rate hold steady every year, which real markets don't do. Change any input and the result changes. Use this to compare scenarios, not to plan around a specific number.
Enter your birth year, annual income, planned retirement age, marital status, and the age you plan to start claiming Social Security. The calculator shows your estimated annual benefit at that age, along with your benefit at earlier and later claiming ages.
Your birth year determines your full retirement age, the age at which you receive 100% of your calculated benefit.
Your annual income is used to estimate your lifetime earnings record, which determines your benefit amount.
Planned retirement age is the age you expect to stop working. This may be different from the age you choose to start claiming Social Security.
Marital status affects benefit calculations, since spousal benefits may apply.
Social Security election age is the age you choose to start receiving benefits. You can claim as early as 62 or as late as 70.
Full retirement age is 66 or 67, depending on your birth year. Claiming before full retirement age permanently reduces your monthly benefit. Delaying past full retirement age increases your benefit each year until age 70.
The Social Security Administration averages your 35 highest-earning years, adjusted for wage growth, to calculate your benefit. Years without earnings count as zero in this average.
Up to 85% of your Social Security benefits may be taxable, depending on your combined income.
Social Security is a federal program that provides income to retirees, as well as survivors and people with disabilities. It's funded through payroll taxes, split evenly between employees and employers, under the Federal Insurance Contributions Act, or FICA.
You become eligible for retirement benefits once you've earned 40 credits, which typically takes about 10 years of work. Credits are based on annual earnings, up to a maximum of four credits per year.
Your benefit amount is based on your earnings history, not a flat payment. The Social Security Administration calculates your benefit using your 35 highest-earning years, adjusted for wage growth over time.
Benefits are paid monthly and increase periodically through cost-of-living adjustments, which are tied to inflation. This makes Social Security one of the few retirement income sources that automatically adjusts for rising prices.
The age you choose to start benefits is permanent once selected, apart from limited exceptions. This makes claiming age one of the most consequential decisions in a retirement income plan, since it affects your monthly payment for the rest of your life.
When to claim Social Security affects your income for the rest of retirement. A fiduciary financial advisor can help you weigh your claiming age against your other income sources. Matching with an advisor is free and comes with no pressure to commit.
100% free · No obligation · No cold calls
