Compare two claiming ages and find the exact break-even point — the age where waiting longer starts to put more total money in your pocket. Uses the official SSA reduction and delayed-retirement credit percentages.
Both options start from the same PIA. Claiming before full retirement age reduces it by 5/9% per month for the first 36 months and 5/12% per month after that. Claiming after FRA adds delayed-retirement credits of 2/3% per month (8% per year) up to age 70. Cumulative benefits assume you collect every month from your claiming age; the break-even age is where the two cumulative lines cross.
Tip: the break-even is usually in your late 70s to early 80s. If you have above-average life expectancy, waiting generally maximizes lifetime income; if not, claiming earlier may make sense. This ignores COLA and the time value of money for a straightforward comparison.
Uses the precise 5/9%, 5/12% and 8%-per-year rules from the Social Security Administration.
Full retirement age is applied correctly based on your birth year.
A clear answer to “how long do I need to live to make waiting worthwhile?”
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