Social Security Benefit Estimator

Estimate your monthly benefit and compare claiming age strategies.

years
$

Your Social Security wage base — use your SSA statement for accuracy

years

Years with substantial Social Security earnings

Full Retirement Benefit

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Monthly at FRA

Benefit at Claim Age

—

Your chosen age

Annual Benefit

—

At claim age

Lifetime Benefit

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To age 85 estimate

Claiming Age Comparison

How the SS Formula Works

SSA averages your 35 highest inflation-adjusted earning years. This gives your AIME. The benefit formula applies three brackets (2024 bend points: $1,174 and $7,078):

  • 90% of first $1,174 of AIME
  • 32% of AIME between $1,174 and $7,078
  • 15% of AIME above $7,078

This progressive formula replaces a higher share of income for lower earners.

Claiming Age Impact

Claim Age Benefit % of PIA
6270% (if FRA is 67)
6586.7%
67 (FRA)100%
70124% (8% per year after FRA)

Related Data

Explore retirement planning data across states — pension fund details, retirement readiness scores, and cost comparisons at PlainRetire. See salary benchmarks for your occupation at WageDex.

Disclaimer: These are estimates only. Your actual benefit is calculated by SSA based on your complete earnings record. Create a my Social Security account at ssa.gov for your official estimate.

Frequently Asked Questions

When should I claim Social Security?
The break-even point between early (62) and delayed (70) claiming is typically around age 80-82. If you expect to live past 82, waiting longer pays off. If health is poor or you need the income, claiming early may be better. Married couples often benefit from one spouse maximizing at 70 to protect the surviving spouse.
How is Social Security calculated?
Social Security uses your 35 highest-earning years (adjusted for inflation) to calculate your AIME (Average Indexed Monthly Earnings). Then it applies a progressive formula (bend points) to calculate your PIA (Primary Insurance Amount) — your monthly benefit at full retirement age.
Can I work while receiving Social Security?
Before full retirement age: if you earn over $22,320 (2024), $1 is withheld for every $2 over the limit. In the year you reach FRA: $1 withheld for every $3 over $59,520. At FRA and after: no earnings limit. Withheld benefits are credited back to increase your monthly payment.
Is Social Security taxable?
Up to 85% of Social Security benefits may be taxable depending on your "combined income" (adjusted gross income + nontaxable interest + half of SS benefits). Under $25,000 single ($32,000 married): none taxable. Over $34,000 single ($44,000 married): up to 85% taxable.

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