When can I start collecting Social Security?
You can start collecting Social Security retirement benefits as early as age 62, but your benefit will be permanently reduced by up to 30%. Full retirement age is 67 for those born in 1960 or later.
US · 2026 assumptions · FreeSocial Security Calculator 2026
Compare claiming at 62, 67, or 70, estimate lifetime income to age 85, and model a simplified spousal benefit.
2026-style simplified estimate — not an official SSA benefit statement. Wage base $176,100; earnings credit threshold $1,810 (max 4/yr); COLA 2.5%.
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Your benefits
Monthly comparisons
At your chosen retirement age$1,969
At full retirement age (67)$1,969
At age 70 (max delayed credits)$2,441
Annual benefit (at chosen age)$23,625
Lifetime estimate to age 85$425,250
Monthly × 12 × years from retirement to 85 (illustrative).
Estimated monthly benefit by claiming age
Retiring at 62 vs 67 — cumulative benefits to a given age are roughly equal around age 78.7. Claiming at 62 pays sooner; waiting until 67 pays more per month afterward.
Taxation note: Up to 85% of your Social Security benefit may be taxable if your combined income exceeds $34,000 (single) or $44,000 (married).
Disclaimer
This is not an official Social Security Administration estimate. Actual benefits depend on your full earnings history, WEP/GPO, family benefits, and SSA rules. For a personal statement, use my Social Security.
Frequently asked questions
How is my Social Security benefit calculated?
The SSA calculates your benefit based on your 35 highest-earning years, adjusted for inflation. This produces your AIME (Average Indexed Monthly Earnings), which is then run through a formula to determine your PIA (Primary Insurance Amount).
What happens if I delay Social Security past 67?
For every year you delay past your full retirement age (67), your benefit increases by 8% per year, up to age 70. Delaying from 67 to 70 increases your monthly benefit by 24%.
Can my spouse collect Social Security based on my record?
Yes. A spouse can receive up to 50% of your full retirement benefit, even if they never worked. They receive whichever is higher — their own benefit or the spousal benefit.
Will Social Security run out of money?
The SSA trust fund is projected to be depleted around 2033–2035, after which incoming payroll taxes could still cover about 75–80% of scheduled benefits. No benefits are expected to be eliminated entirely.