Compare claiming ages for state or social security benefits and find the break-even.
Claiming early gives a smaller benefit for longer while delaying gives a larger one for less time. The break-even typically falls in the early eighties, which is close to average life expectancy. Because break-even sits near average life expectancy, the decision hinges on longevity expectations, spousal benefits and whether the income is needed sooner.
Social Security Claiming Strategy
Early claiming reduces the benefit about 6.7 per cent a year; delaying adds about 8 per cent a year
This is a general illustration, not financial, tax or legal advice. Rules, thresholds and rates vary by jurisdiction and change frequently, and individual circumstances materially affect outcomes. Consult a qualified adviser before making any decision based on these figures.
Early claiming reduces the benefit about 6.7 per cent a year; delaying adds about 8 per cent a year Claiming early gives a smaller benefit for longer while delaying gives a larger one for less time. The break-even typically falls in the early eighties, which is close to average life expectancy.
Because break-even sits near average life expectancy, the decision hinges on longevity expectations, spousal benefits and whether the income is needed sooner.
This calculator takes 5 inputs: Benefit at full retirement age, Full retirement age, Age you plan to claim, Alternative claiming age, Life expectancy. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.