How this calculator works
Your average indexed monthly earnings run through the 2026 benefit formula: 90% of the first $1,286, 32% up to $7,749 and 15% above. That's your benefit at full retirement age, 67. Claiming early cuts it by up to 30%; waiting adds 8% a year until 70.
Worked example
With the example values below: Monthly benefit at 67, $2,746 (full-retirement-age benefit $2,746). Change any number above to run your own.
What you enter
| Input | Example |
|---|---|
| Current age | 40 |
| Average annual earningsAverage of your best 35 years, in today's dollars | $75,000 |
| Age you plan to claim | 67 |
How your benefit is calculated
Social Security takes your highest 35 years of earnings, adjusted for wage growth, and averages them into your average indexed monthly earnings (AIME). Years with no earnings count as zeros. Your full retirement benefit, the primary insurance amount, comes from a formula with bend points: in 2026, 90% of the first $1,286 of AIME, 32% of AIME up to $7,749, and 15% above that.
The formula replaces a larger share of income for lower earners. Benefits rise each year with cost-of-living adjustments.
Choosing when to claim
Waiting raises the monthly check permanently. The break-even age for delaying from 62 to 70 is typically around 80 to 82: live longer than that and waiting pays more in total. Delaying also raises the survivor benefit for a spouse.
| Claiming age | Benefit vs. full retirement age (67) |
|---|---|
| 62 | 70% |
| 64 | 80% |
| 65 | 86.7% |
| 67 | 100% |
| 68 | 108% |
| 70 | 124% |
Things that affect your check
Check your actual earnings record and estimates at ssa.gov with a my Social Security account, then use the retirement calculator to fit Social Security into your plan.
- Working before full retirement age: benefits are temporarily withheld if earnings exceed an annual limit.
- Taxes: up to 85% of benefits can be taxable depending on your other income.
- Spousal benefits: up to 50% of a spouse's full benefit.
- Medicare Part B premiums are usually deducted from your benefit.
Frequently asked questions
How is my Social Security benefit calculated?
Your highest 35 years of indexed earnings are averaged into a monthly figure (AIME), then run through the benefit formula: in 2026, 90% of the first $1,286, 32% up to $7,749 and 15% above that. That's your benefit at full retirement age.
What is full retirement age for Social Security?
67 for anyone born in 1960 or later. Earlier birth years have a full retirement age between 66 and 67.
Should I claim Social Security at 62 or 70?
Claiming at 62 gives about 70% of your full benefit; waiting to 70 gives about 124%. Waiting usually pays off if you expect to live past about 80 to 82, or want a larger survivor benefit for a spouse.
How much will I get from Social Security?
It depends on your earnings history and claiming age. Someone with average lifetime earnings of $75,000 a year in today's dollars would get roughly $2,750 a month at 67 under the 2026 formula.
Is Social Security taxable?
Up to 85% of benefits can be taxed federally if your combined income, AGI plus nontaxable interest plus half your benefits, exceeds certain thresholds. Most states don't tax Social Security.
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Estimates for planning only, not financial, tax or legal advice. Tax tools use 2026 federal figures (brackets, $16,100 / $32,200 standard deduction, $19,000 gift exclusion, $15M lifetime exemption). Rates shown as defaults are examples; replace them with quotes you actually receive.