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Social Security

Claim at 62, 67, or 70?

Model your lifetime benefits at every claim age. See break-even year and how much you leave on the table by claiming early.

$2,400/mo

at age 67

Lifetime: $518,400

Your benefit

Results

Monthly benefit

$2,400

Annual benefit

$28,800

Lifetime benefit

$518,400

Earnings penalty

$0

Break-even vs 62

age 74

Break-even vs 70

age 83

Freedom Coach™

Claim at 67: $2,400/mo · $518,400 lifetime.

Waiting from 62 to 70 grows your monthly check by ~77%. Break-even vs. claiming at 62 lands around age 74.

  • You avoid the earnings test — no penalty for outside income at your claim age.
  • With a longer life expectancy, delaying to 70 usually wins on total lifetime dollars.
  • Coordinate with a spouse's claim — the higher earner should typically delay to protect the survivor benefit.

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Save claim-age scenarios and coordinate with your spouse's benefit for maximum household lifetime income.

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Frequently asked questions

62, 67, or 70 — when should I claim?

It depends on health, marital status, and other income. Claim at 62 if you have short life expectancy or urgent income need. Delay to 70 if you're healthy and don't need the money — you get 24% more per month permanently.

How much does waiting really add?

Every year you delay past FRA (67 for most) adds ~8% to your monthly check. Every year early cuts ~6–7%. Total swing from 62 to 70: ~77% more per month.

Should married couples both delay?

Usually the higher earner should delay to 70 — that check becomes the survivor benefit for the surviving spouse. Lower earner can claim earlier.

What's the earnings test?

If you claim before FRA and keep working, benefits are withheld $1 for every $2 over ~$22,320 (2025). This penalty disappears at FRA.

Will Social Security run out?

The trust fund is projected to hit shortfall around 2033. Even then, payroll taxes cover ~77% of benefits. Full elimination is not the base case.

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