Social Security Calculator · Practical guide
Social Security at 62 vs 67 vs 70
Same earnings record, three very different monthly checks — see the trade-off in dollars.
At a glance
The Core Trade-Off
For the same earnings record, claiming at 62 pays 70% of your full benefit, claiming at 67 pays 100%, and waiting until 70 pays 124% thanks to delayed retirement credits. The difference between the earliest and latest checks is dramatic: at 70 you receive about 77% more per month than at 62.
Interactive tool
Social Security Calculator
Enter your own values, then compare the result with the examples below.
Results
Side-by-Side Comparison
Monthly benefits for a worker with AIME of $5,000 (full benefit $2,281):
| Claiming age | Percent of full | Monthly benefit | Collected by age 80 |
|---|---|---|---|
| 62 | 70% | $1,597 | $345,000 |
| 67 | 100% | $2,281 | $356,000 |
| 70 | 124% | $2,828 | $339,000 |
Where the Break-Even Points Fall
Claiming at 62 beats 67 in total dollars until roughly age 78. Claiming at 67 beats 70 until roughly age 82. Past those ages, the bigger checks win — and the gap keeps widening because cost-of-living adjustments compound on the larger base amount.
How to Choose
Three questions decide it for most people: Do you need the income now? How is your health and family longevity? Will you keep working before full retirement age? Run your own AIME through the calculator above — it shows the benefit at 62, 67, and 70 in one view, plus any delayed retirement credits, so you can weigh the trade-off with your real numbers.
Frequently Asked Questions
Why is 70 the latest age that matters?
Delayed retirement credits stop accruing at 70, so waiting past 70 adds nothing to your benefit.
Do spousal benefits follow the same percentages?
No. Spousal benefits use different reduction rules and do not earn delayed retirement credits past full retirement age.
Does the break-even math include inflation?
Not in this simple comparison. Cost-of-living adjustments raise all three amounts proportionally, which slightly favors waiting.
What is my full retirement age?
This calculator uses 67, which applies to anyone born in 1960 or later. Those born earlier have a full retirement age between 66 and 67.