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Social Security Benefits Calculator 2026

Claiming at 62 vs 70 is a $400,000+ decision. See your numbers before you decide.

When should you start collecting Social Security?
Your FRA: 67
$
Your average income over your career
years
SS uses your 35 highest-earning years
%
2026 COLA: 2.8%. Historical avg: ~2.6%
years
US average: ~77. Healthy adults: 85-90.
—

How to Use This Calculator

When to Claim tab

Enter your birth year and average annual income to see estimated monthly benefits at three key ages: 62 (earliest), your Full Retirement Age, and 70 (maximum). The calculator shows your PIA (Primary Insurance Amount), lifetime totals to your life expectancy, and the break-even age — the age where delaying starts to pay off. Adjust life expectancy under More Options to see how it changes the math.

Spousal Benefits tab

Enter both your and your spouse's birth year and income. The calculator computes each person's own benefit, then checks if the lower earner would receive more from a spousal benefit (50% of the higher earner's PIA). It shows the optimal strategy and your combined household income. Adjust claiming ages under More Options to see how timing affects the total.

Working & Collecting tab

Enter your claiming age and expected earnings to see how the earnings test reduces your benefits before FRA. In 2026, you can earn up to $24,480 without reduction. The calculator also shows how much of your Social Security is federally taxable based on your total income and filing status.

The Formulas

PIA (Primary Insurance Amount) — 2026 bend points:
PIA = 90% × first $1,286 of AIME
     + 32% × AIME from $1,286 to $7,749
     + 15% × AIME above $7,749

Early claiming reduction (before FRA):
First 36 months: 5/9 of 1% per month (6.67%/yr)
Beyond 36 months: 5/12 of 1% per month (5%/yr)

Delayed retirement credits (after FRA):
2/3 of 1% per month = 8% per year (up to age 70)

Spousal benefit:
50% of worker's PIA at spouse's FRA, reduced if claimed early

Earnings test (2026):
Under FRA: $1 withheld per $2 above $24,480
Year of FRA: $1 withheld per $3 above $65,160

AIME (Average Indexed Monthly Earnings) uses your 35 highest-earning years, indexed for wage growth. This calculator estimates AIME from your current income — for a precise number, check your my Social Security statement.

Example

David — Born 1965, Software Engineer in Austin, TX

Average career salary of $95,000. Considering when to claim Social Security.

PIA (full benefit at FRA 67)$2,764/mo
At age 62 (70% of PIA)$1,935/mo
At age 67 — FRA (100%)$2,764/mo
At age 70 (124%)$3,427/mo
Break-even: 62 vs 70Age 80.4

David's father lived to 88. With good health in his family, he decided waiting until 70 makes sense — an extra $1,492/month for life. He shared the link with his wife: "Look, if I make it to 85, waiting until 70 gives us $94,000 more total." They then used the Spousal tab — her benefit at $45K income was $1,422/mo own vs. $1,382/mo spousal. Own benefit wins.

FAQ

With $75,000 average annual income, your estimated PIA is about $2,364/month at Full Retirement Age (67 for those born 1960+). At 62, you'd receive ~$1,655/month (30% reduction). At 70, ~$2,931/month (24% increase). These are 2026 estimates using SSA's bend point formula. Your actual benefit depends on your 35 highest-earning years — check your SSA statement at ssa.gov/myaccount.
The break-even age is typically around 80. If you live past 80, waiting until 70 gives you more total money. At 62 you get 30% less per month but start collecting 8 years sooner. At 70 you get 24% more than FRA. The right answer depends on your health, savings, and whether you need the income now. If you have other income to bridge the gap, waiting usually pays off — someone living to 85 gets roughly $90,000-$150,000 more by waiting until 70.
In 2026, if you're under Full Retirement Age all year, you can earn up to $24,480 with no reduction. Above that, SSA withholds $1 for every $2 over the limit. In the year you reach FRA, the limit is $65,160, and only $1 per $3 is withheld. After FRA, there's no limit. Important: withheld money isn't lost — SSA recalculates your benefit at FRA and increases it to account for the months of withholding.
Yes, up to 85% of benefits can be federally taxed. The key is "combined income" = AGI + nontaxable interest + 50% of SS benefits. For single filers: below $25,000 = no tax, $25,000-$34,000 = up to 50% taxable, above $34,000 = up to 85% taxable. For married filing jointly: thresholds are $32,000 and $44,000. These thresholds haven't been adjusted since 1993, so more retirees pay taxes each year. Additionally, 13 states tax SS benefits.
A spouse can receive up to 50% of your PIA at their Full Retirement Age — but only if it's more than their own benefit. Under "deemed filing" rules (since 2015), if eligible for both, SSA automatically pays the higher amount. Spousal benefits are reduced if claimed before FRA. Divorced spouses qualify too if the marriage lasted 10+ years. Use our Spousal Benefits tab to compare both options with your actual numbers.

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