Social Security Calculator
Estimate your Social Security retirement benefits and compare claiming ages (62, full retirement age, 70) to see which strategy maximizes your lifetime income.
Social Security Inputs
Basic Information
Claiming Ages to Compare
Economic Assumptions
Benefit Comparison
Compare claiming strategies
Select claiming ages and calculate to see your results
How Social Security Benefits Work
1. Primary Insurance Amount (PIA)
Your PIA is calculated from your Average Indexed Monthly Earnings (AIME) using bend points:
PIA = 0.90 × AIME≤$1,226 + 0.32 × (AIME$1,226-$7,391) + 0.15 × (AIME>$7,391)
2. Claiming Age Adjustments
Benefits are reduced for early claiming (before FRA) and increased for delayed claiming (after FRA up to age 70).
3. Present Value Analysis
PV = Σ [Benefit_t × (1+COLA)^t] / (1+r)^t
Where r = investment return rate, accounting for the opportunity cost of claiming later.
Frequently Asked Questions