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Social Security Calculator

Use this Social Security Calculator to estimate your monthly retirement benefit based on your AIME (Average Indexed Monthly Earnings), when you plan to claim, and expected COLA. Results are educational estimates and not official SSA figures.

Notes: Your Primary Insurance Amount (PIA) is computed from AIME using current bend points. Benefits are reduced if you claim before Full Retirement Age (FRA) and increased if you delay (until age 70). If you work and claim before FRA, the earnings test may temporarily withhold benefits. This tool provides estimates; consult SSA for official numbers.

Estimate your Social Security retirement benefit in minutes. Our Social Security Calculator helps you model how claiming age, earnings history, cost-of-living adjustments (COLA), and the earnings test may affect your monthly check.

Why use a Social Security Calculator?

For most retirees, Social Security is a foundational source of income. Deciding when to claim is one of the most impactful choices you can make. Claiming as early as 62 reduces your benefit, while delaying up to age 70 increases it. The right strategy depends on your work history, life expectancy, other income, taxes, and retirement goals. A calculator clarifies these trade-offs by turning complex rules into a personalized projection.

How the calculator estimates your benefit

Social Security benefits start with your Average Indexed Monthly Earnings (AIME), which is derived from your highest 35 years of earnings, adjusted for wage inflation. The AIME flows into a formula that produces your Primary Insurance Amount (PIA) using bend points: a higher percentage of your first dollars of earnings and a lower percentage of higher earnings. Your actual benefit is then adjusted for:

  • Claiming age: Early filing reduces benefits; delaying past Full Retirement Age (FRA) increases them up to age 70.
  • Cost-of-Living Adjustments (COLA): Annual increases meant to keep pace with inflation.
  • Earnings test: If you work before FRA and earn above a set limit, part of your benefit may be withheld for that year.

Understanding Full Retirement Age (FRA)

Your FRA depends on your birth year. For people born from 1943–1954, it is 66; it gradually increases to 67 for those born in 1960 or later. Filing before FRA reduces your benefit; filing after FRA adds delayed retirement credits (DRCs) of roughly two-thirds of one percent per month until age 70.

Early vs. late claiming: what changes?

Filing at 62 can reduce your monthly benefit by as much as 25–30% versus FRA, depending on your birth year and how many months early you claim. Conversely, waiting until 70 can boost your check by 24–32% or more. The calculator shows the estimated reduction or increase based on your planned claiming age.

How to get the most accurate estimate

  • Use your latest AIME from your Social Security statement, or estimate it from your earnings record.
  • Enter a realistic planned claiming age and months.
  • Choose a conservative COLA assumption; long-term averages have been around the low single digits.
  • If you will work before FRA, enter your expected earnings to account for the earnings test—this affects near-term cash flow, not your long-term benefit formula.

Planning tips

Consider your health, longevity in your family, spouse’s benefits, tax situation, and portfolio withdrawal needs. Delaying increases the guaranteed portion of your retirement income, while claiming earlier provides more years of payments. There is no one-size-fits-all answer, but a clear estimate helps you compare scenarios.

Important reminders

  • This calculator provides educational estimates and is not affiliated with the Social Security Administration.
  • Actual benefits depend on your official SSA earnings record and current law.
  • COLA, bend points, and earnings-test limits change annually.

Use the Social Security Calculator to test several what-if scenarios. Try different claiming ages, vary your COLA assumption, and see how working before FRA might affect your monthly payments. With a clearer picture, you can make a more confident decision about when to start Social Security.

FAQs

How does the Social Security Calculator estimate my monthly benefit?

It uses your AIME to estimate PIA, then adjusts for claiming age, expected COLA, and the earnings test if you work before FRA.

What inputs do I need for the Social Security Calculator?

You need your date of birth, AIME, planned claiming age, benefit start year, expected COLA, and optional earnings for the under-FRA test.

Does the Social Security Calculator handle early and late filing adjustments?

Yes. It applies reductions for filing before FRA and delayed retirement credits up to age 70.

Will the Social Security Calculator account for COLA increases?

Yes. Enter an annual COLA percentage and the calculator compounds it to the chosen start year.

Can the Social Security Calculator model the earnings test?

Yes. If you work before FRA, it estimates withholding based on your earnings and the annual threshold.

Is the Social Security Calculator result the same as SSA’s official estimate?

No. It’s an educational estimate. For official figures, use your SSA account or contact the Social Security Administration.

What is AIME in the Social Security Calculator?

AIME is your Average Indexed Monthly Earnings, calculated from your highest 35 years of wage-inflation-adjusted earnings.

Does the Social Security Calculator consider spousal or survivor benefits?

This version focuses on your own benefit. Spousal and survivor benefits involve additional rules not modeled here.