Estimate your Social Security retirement benefit for 2026. See how age affects your monthly payment from 62 to 70.
Assumes constant return rate. Does not account for inflation, taxes, or Social Security. For illustrative purposes only.
Social Security retirement benefits are calculated based on your 35 highest-earning years of work history, adjusted for wage inflation. The SSA calculates your Average Indexed Monthly Earnings (AIME), then applies a progressive benefit formula to arrive at your Primary Insurance Amount (PIA) — what you'd receive at Full Retirement Age (FRA).
Full Retirement Age (FRA) is 67 for everyone born in 1960 or later. Taking benefits early reduces them permanently: at 62, benefits are reduced by 30% compared to FRA. Delaying past FRA increases benefits by 8% per year until age 70. A $2,000 FRA benefit becomes $1,400 at 62 or $2,480 at 70. This decision is one of the most consequential financial choices many retirees make.
The average Social Security retirement benefit in 2026 is approximately $1,976/month. The maximum benefit for someone retiring at FRA with 35 years of maximum earnings is approximately $3,822/month. Higher earners who retire later can receive up to $5,108/month at age 70.
Spousal benefits allow a spouse to receive up to 50% of the worker's FRA benefit, regardless of the spouse's own earnings history. If one spouse earned significantly more, the lower-earning spouse's benefit may be based on the other's record. Survivor benefits (up to 100% of deceased spouse's benefit) make the claiming age decision especially important for married couples.
Taxes: if your combined income (AGI + non-taxable interest + 50% of Social Security) exceeds $25,000 (single) or $32,000 (married), up to 85% of benefits may be taxable. Smart income management in retirement — using Roth distributions or qualified charitable distributions — can help keep Social Security tax-free.
The break-even age for waiting from 62 to 70 is typically around age 80–82. If you're in good health and expect to live past 82, delaying is usually the mathematically optimal choice. If you have health concerns or need income immediately, taking early may be better. Married couples should particularly consider delaying the higher earner's benefit for the survivor.
The average 2026 benefit at FRA (67) is approximately $1,976/month. Your actual benefit depends on your 35 highest earning years. Create a free account at ssa.gov to see your personalized Social Security statement, which estimates your benefits at 62, 67, and 70 based on your actual earnings history.
Yes, but with limits before FRA. In 2026, if you're under FRA and earn more than $22,320 (estimated), $1 of benefits is withheld for every $2 over the limit. In the year you reach FRA, the limit rises and only earnings before your FRA birthday count. After FRA, you can earn any amount with no benefit reduction.