Claim at 62 and get smaller checks sooner, or wait until 70 for checks up to 77% bigger? The honest answer depends on one thing: how long you live. This tool shows the trade-off.
Your monthly benefit at full retirement age comes from your SSA.gov estimate — we can't compute it without your full earnings history, and we won't guess.
Total collected if you live to 85.
| Claim at | Monthly check | vs. FRA | Lifetime total |
|---|---|---|---|
| 62 | $1,540 | 70% | $425,040 |
| 63 | $1,650 | 75% | $435,600 |
| 64 | $1,760 | 80% | $443,520 |
| 65 | $1,907 | 87% | $457,600 |
| 66 | $2,053 | 93% | $468,160 |
| 67 (FRA) | $2,200 | 100% | $475,200 |
| 68 | $2,376 | 108% | $484,704 |
| 69 | $2,552 | 116% | $489,984 |
| 70 | $2,728 | 124% | $491,040 |
The age where waiting starts beating claiming early.
62 vs. 70: waiting until 70 pulls ahead at age 80.4. Live past that and waiting won; die earlier and claiming at 62 won.
62 vs. 67 (FRA): break-even at age 78.7.
FRA vs. 70: break-even at age 82.5.
These are nominal dollars with no discounting — a dollar at 62 spends the same as a modeled dollar at 85 here. In reality, early dollars are worth slightly more because they can be invested or simply enjoyed sooner.
Where each claiming strategy's total crosses the others.
• Taxes: up to 85% of benefits can be taxable depending on other income — claiming later while doing Roth conversions in your 60s is a common pairing.
• Spousal & survivor benefits: delaying also raises what a surviving spouse receives — often the strongest reason to wait.
• Earnings test: earn above the annual limit before FRA while claiming and benefits are temporarily withheld.
• Health & need: if you need the money at 62, take it. A model never outranks rent.
