Social Security Benefits Calculator
Social Security is a foundational source of retirement income for most Americans, and the age at which you claim it has a large, permanent effect on your monthly benefit for the rest of your life. Your benefit is calculated from your 35 highest-earning, inflation-adjusted years, using bend points that replace a higher percentage of lower earnings (90% of low earnings, 32% of middle, 15% of high) to make the program progressive. Claiming before your full retirement age permanently reduces your benefit, while claiming later — up to age 70 — increases it by about 8% per year you delay, a guaranteed return that's hard to beat elsewhere. This calculator estimates your monthly benefit based on your average indexed monthly earnings (AIME) and the age you plan to claim. Enter your AIME, the age you plan to claim, and your full retirement age (66 or 67), and the calculator returns your estimated monthly and annual benefit. Full retirement age is 67 for anyone born in 1960 or later, and 66 rising to 67 for earlier birth years. If you expect to live past about 80, delaying your claim often pays off in lifetime benefits, because the larger monthly checks eventually overtake the smaller ones you'd have received by claiming early — and for someone who lives to 90 or beyond, delaying to 70 can be worth tens of thousands of dollars more in lifetime benefits. Up to 85% of your benefits may be taxable if your combined income exceeds thresholds ($25,000 single, $32,000 married filing jointly). Find your AIME on your Social Security statement at ssa.gov, then use this calculator to compare claiming ages and decide when to start benefits, a decision that's among the biggest in retirement planning.
Social Security Benefits Calculator
Estimate your monthly Social Security benefit based on your indexed earnings and claim age.
Estimated monthly benefit
$2,342
PIA $2,342
Annual benefit
$28,109
Adjustment factor
100%
vs. full retirement age
Benefits are calculated from your 35 highest-earning years. Claiming before full retirement age permanently reduces benefits; claiming later (up to 70) increases them by 8% per year. Bend points shown are approximate 2026 values.
How to Use This Calculator
- 1Enter your average indexed monthly earnings (AIME).
- 2Enter the age you plan to claim.
- 3Select your full retirement age (66 or 67).
- 4Read your estimated monthly and annual benefit.
Why It Helps
- ✓Estimates a key retirement income source.
- ✓Shows the impact of claiming age.
- ✓Helps you decide when to claim.
- ✓Projects annual and lifetime benefits.
About This Calculator
Social Security is a foundational source of retirement income for most Americans, and the age at which you claim it has a large, permanent effect on your monthly benefit for the rest of your life. Your benefit is calculated from your 35 highest-earning, inflation-adjusted years, using bend points that replace a higher percentage of lower earnings (90% of low earnings, 32% of middle, 15% of high) to make the program progressive. Claiming before your full retirement age permanently reduces your benefit, while claiming later — up to age 70 — increases it by about 8% per year you delay, a guaranteed return that's hard to beat elsewhere. This calculator estimates your monthly benefit based on your average indexed monthly earnings (AIME) and the age you plan to claim. Enter your AIME, the age you plan to claim, and your full retirement age (66 or 67), and the calculator returns your estimated monthly and annual benefit. Full retirement age is 67 for anyone born in 1960 or later, and 66 rising to 67 for earlier birth years. If you expect to live past about 80, delaying your claim often pays off in lifetime benefits, because the larger monthly checks eventually overtake the smaller ones you'd have received by claiming early — and for someone who lives to 90 or beyond, delaying to 70 can be worth tens of thousands of dollars more in lifetime benefits. Up to 85% of your benefits may be taxable if your combined income exceeds thresholds ($25,000 single, $32,000 married filing jointly). Find your AIME on your Social Security statement at ssa.gov, then use this calculator to compare claiming ages and decide when to start benefits, a decision that's among the biggest in retirement planning.
Disclaimer: This calculator provides estimates for educational purposes only and does not constitute financial, tax, or investment advice. Results depend on assumptions that may not reflect your actual situation.
Frequently Asked Questions
What is full retirement age?
The age at which you receive your full benefit. It is 67 for anyone born in 1960 or later; 66 (rising to 67) for earlier birth years.
Should I claim Social Security early or late?
Claiming early (62) permanently reduces benefits; claiming late (up to 70) increases them by 8% per year. If you expect to live past about 80, delaying often pays off.
How are benefits calculated?
From your 35 highest-earning, inflation-adjusted years. Bend points replace 90% of low earnings, 32% of middle, and 15% of high earnings.
Are Social Security benefits taxed?
Up to 85% of benefits may be taxable if your combined income exceeds thresholds ($25,000 single, $32,000 married filing jointly).
What is AIME?
Average Indexed Monthly Earnings — your average monthly earnings over your 35 highest years, adjusted for wage inflation. Find it on your Social Security statement.
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Written by
James MitchellSenior Financial Analyst & Personal Finance Expert
Certified Financial Planner (CFP) • MBA in Finance, University of Chicago Booth School of Business