Social Security Optimizer

Most people pick 62 because it's the earliest they can. Some pick 67 because it's the "full" retirement age. Almost nobody picks 70 — even though, for most people who live past 80, it's the best financial decision they can make.

The reason is that Social Security is the only financial product most people will ever own that guarantees an 8% annual return, is inflation-adjusted for life, and cannot be outlived. Every year you delay between 62 and 70 locks in that 8% permanently. If you live to 85, claiming at 70 instead of 62 typically puts $150,000 to $300,000 more in your pocket over your lifetime. If you have a spouse, the calculus gets even more important — because the higher earner's benefit becomes the survivor benefit, and a widow or widower living to 90 on a reduced benefit is one of the most common and preventable retirement mistakes there is.

This calculator shows your monthly benefit at every claiming age, your lifetime total at ages 80, 85, 90, and 95, the exact age where each strategy breaks even, the optimal strategy for you and your spouse as a couple, and an honest look at whether claiming early and investing the difference could ever beat waiting. Put in your numbers and see what the decision is actually worth.