Social Security Calculator — Claiming at 62
How much do you lose by claiming Social Security at 62 vs waiting until 67?
Quick Answer
Est. benefit: $1,898/month at age 62
Full retirement age
67
Claiming age
62
Monthly benefit
$1,898
Annual benefit
$22,773
Benefit at FRA
$2,711
- ✓Claiming at 62 permanently reduces your benefit by ~30% vs waiting to 67
- ✓Delaying from 62 to 70 increases monthly benefit by up to 77%
- ✓Break-even for delaying: typically age 80–82 depending on claiming ages compared
- ✓Benefits are adjusted annually for inflation via COLA (Cost of Living Adjustment)
Monthly Benefit at Age 62
$1,876.64
Benefit at Age 62
$1,787.28
Benefit at Age 67 (FRA)
$2,680.92
Benefit at Age 70
$3,324.34
2026 SSA bend points: $1,174 and $7,078. FRA is 67 for those born 1960+.
Frequently Asked Questions
How much Social Security will I get if I claim at 62?
Est. benefit: $1,898/month at age 62 — a simplified estimate based on your average income and claiming age. Your actual benefit depends on your full earnings history (35 highest-earning years) as calculated by the SSA. Create a my Social Security account at ssa.gov for your personalized estimate.
When is the best age to claim Social Security?
Claiming at 62 permanently reduces your benefit. The break-even vs waiting to FRA (67) is typically around age 80. If you're in good health and expect to live past 80, waiting longer pays off.
Is Social Security income taxable?
Up to 85% of Social Security benefits can be taxable if your "combined income" (AGI + non-taxable interest + half of SS) exceeds $25,000 (single) or $32,000 (married). Benefits are never taxed at more than 85%. At lower income levels, some or all benefits are tax-free.
How does working affect Social Security if I claim before FRA?
If you claim before 67 and continue working, SSA withholds $1 for every $2 earned above $22,320 (2026 limit). Withheld benefits aren't lost — your monthly benefit increases after FRA to account for them. Once you reach FRA, you can earn any amount without reduction.
Related Scenarios
Results are estimates for informational purposes only and do not constitute financial advice. Tax figures use 2026 US rates. Consult a licensed financial advisor before making financial decisions.Last updated: April 2026