Estimate Your Social Security Benefits
Estimate monthly Social Security benefits by claiming age. See the impact of early vs delayed claiming.
How Social Security Benefits Are Calculated
Your benefit is based on your 35 highest-earning years. These earnings are averaged and indexed for inflation to calculate your Average Indexed Monthly Earnings (AIME). The Primary Insurance Amount (PIA) formula applies three bend points to your AIME — you get 90% of the first $1,174, 32% of earnings between $1,174 and $7,078, and 15% above $7,078. This progressive formula replaces a higher percentage of income for lower earners.
When to Claim
Age 62 (earliest): Benefits reduced by 30% permanently. Good if you need income or have health concerns. Age 67 (FRA): Full benefit amount. Age 70 (maximum): Benefits increased by 24% over FRA (8% per year of delay). For each year you delay past 62, your monthly benefit increases by approximately 6-8%. If you expect to live past 80, delaying generally pays off financially.
For married couples, the optimal Social Security strategy often involves one spouse (usually the higher earner) delaying to age 70 while the other claims earlier. The higher earner delayed benefit also becomes the survivor benefit — protecting the surviving spouse with a larger monthly check for life.
