Living to 90 and discounting at 2% real, claiming at 70 maximizes the present value of your lifetime benefits ($427,131). Change either assumption and this can flip.
Benefit by claiming age
| Claim age | % of full | Monthly | Annual | Lifetime value* |
|---|---|---|---|---|
| 62 | 70% | $2,202 | $26,425 | $368k |
| 63 | 75% | $2,359 | $28,313 | $376k |
| 64 | 80% | $2,517 | $30,200 | $382k |
| 65 | 86.67% | $2,726 | $32,717 | $394k |
| 66 | 93.33% | $2,936 | $35,234 | $403k |
| 67 (full) | 100% | $3,146 | $37,751 | $409k |
| 68 | 108% | $3,398 | $40,771 | $418k |
| 69 | 116% | $3,649 | $43,791 | $424k |
| 70 ◄ best | 124% | $3,901 | $46,811 | $427k |
*Present value at your current age of every benefit check through age 90, in today's dollars, discounted at 2% real.
Cumulative value by how long you live
Where a later line crosses above an earlier one is the breakeven age. Left of the crossover, claiming earlier wins; right of it, waiting wins.
Breakeven ages
At your 2% discount rate. Live past this age and the later claim wins.
62 vs. 70 by discount rate
The higher your discount rate, the later waiting pays off, until it never does.
How to read this: delaying Social Security buys ~8% more per year (a rare, government-backed, inflation-protected raise), but you give up checks in the meantime. Whether that trade pays off depends on how long you live and your discount rate. This tool estimates your benefit from a level career average, models claiming ages 62–70, and (in couple mode) the spousal 50% floor and survivor cliff; it does not model benefit taxation, the earnings test, the survivor-benefit reduction for claiming before the survivor's own full retirement age, or Medicare surcharges. Once you have a benefit figure, plug it into the retirement calculator to see it in your full plan. A planning estimate, not financial advice — confirm your actual benefit at ssa.gov.