Calculate your full retirement age for Social Security benefits and explore early or delayed retirement options.
Your retirement age determines when you can receive full Social Security retirement benefits without reduction. The full retirement age (FRA), also known as normal retirement age, varies based on your birth year due to changes in Social Security law.
Determine when you can retire with full benefits and plan your financial future accordingly.
Compare benefit amounts at different claiming ages to optimize your Social Security income.
Calculate retirement income based on different claiming scenarios for accurate financial planning.
Make informed decisions about when to transition from full-time work to retirement.
| Birth Year | Full Retirement Age | Early (62) Reduction | Delayed (70) Increase |
|---|---|---|---|
| 1943-1954 | 66 years | 25% | 32% |
| 1955 | 66 years, 2 months | 25.83% | 30.67% |
| 1956 | 66 years, 4 months | 26.67% | 29.33% |
| 1957 | 66 years, 6 months | 27.5% | 28% |
| 1958 | 66 years, 8 months | 28.33% | 26.67% |
| 1959 | 66 years, 10 months | 29.17% | 25.33% |
| 1960 and later | 67 years | 30% | 24% |
If you expect to live longer than average, delaying benefits may result in higher lifetime income. Break-even analysis typically shows delayed claiming pays off after age 78-80.
If you have sufficient retirement savings or other income sources, delaying Social Security can maximize your guaranteed lifetime income.
Married couples should coordinate claiming strategies. The higher earner delaying benefits can increase survivor benefits for the spouse.
Social Security benefits may be taxable depending on your total income. Strategic claiming can help manage your tax burden in retirement.
Retirement plans should be reviewed regularly as circumstances change. Health status, financial needs, and family situations can all impact optimal claiming age.
Scenario: Sarah was born in 1960 and wants to know her retirement options.
Full Retirement Age: 67 years
Early Retirement (62): 30% reduction in benefits
Delayed Retirement (70): 24% increase in benefits
If monthly benefit at FRA is $2,000:
• At age 62: $1,400/month
• At age 67: $2,000/month
• At age 70: $2,480/month
Scenario: John was born in 1957 and needs to retire early due to health issues.
Full Retirement Age: 66 years, 6 months
Claiming at 62: 27.5% reduction
Monthly reduction: 54 months early × 5/9 of 1% = 30% for first 36 months, then 5/12 of 1% for remaining 18 months
Decision: Despite reduction, early claiming provides needed income and may result in higher lifetime benefits given health concerns
Scenario: Maria was born in 1955, has substantial savings, and plans to work until 70.
Full Retirement Age: 66 years, 2 months
Delaying to 70: 46 months × 2/3 of 1% = 30.67% increase
If FRA benefit is $2,500:
• At FRA (66y 2m): $2,500/month
• At age 70: $3,267/month
Lifetime benefit: Break-even at approximately age 79; higher total benefits if living past 80
Scenario: Tom (born 1958, higher earner) and Lisa (born 1960, lower earner) coordinate their claiming strategy.
Tom's FRA: 66 years, 8 months
Lisa's FRA: 67 years
Strategy: Lisa claims at 62 for early income; Tom delays until 70 to maximize survivor benefits
Result: Household income starts earlier while ensuring maximum survivor benefit for whichever spouse lives longer
Tom's benefit at 70: 26.67% higher than FRA amount
Calculate your exact age in years, months, and days
Calculate your Chinese age (虚岁) and zodiac sign
Calculate dates and time differences
Calculate the difference between two dates
Add and subtract time
Calculate hours worked