Find your estimate: visit ssa.gov/myaccount and look for “Full Retirement Age benefit.”
| Birth year | Full Retirement Age |
|---|---|
| 1955 | 66 yrs 2 mo |
| 1956 | 66 yrs 4 mo |
| 1957 | 66 yrs 6 mo |
| 1958 | 66 yrs 8 mo |
| 1959 | 66 yrs 10 mo |
| 1960+ | 67 yrs |
Your FRA: 67 yrs
Live past this age and waiting pays off. How long you live is the honest unknown.
| Claim at | Die at 75 | Die at 80 | Die at 85 | Die at 90 |
|---|
Cumulative = monthly benefit × 12 × (death age − claim age). No inflation or time-value adjustment. There is no “optimal” age — find your own crossover.
Early reduction: claiming before FRA permanently reduces your benefit. The reduction is 5⁄9% per month for the first 36 months before FRA, and 5⁄12% per month for any additional months. Claiming at 62 with a 67-year FRA reduces your benefit by 30%.
Delayed credits: waiting past FRA grows your benefit at 8% per year (⅔% per month) up to age 70. There is no further increase after 70.
Caveats: this calculator does not model the earnings test (applies if you claim before FRA while still working), spousal or survivor benefits, cost-of-living adjustments (COLA), or the taxation of benefits. It is educational only — not personalized financial advice. Your actual benefit is determined by your full earnings record at ssa.gov.
Educational purposes only. This calculator illustrates mathematical concepts related to long-term investing and is not financial advice. Past market returns do not guarantee future results. Portfolios can lose value. The formulas assume constant returns and do not account for taxes, fees, inflation, or sequence-of-returns risk. Consult a qualified financial professional before making investment decisions.