Compare claiming strategies and understand how timing decisions could impact your lifetime benefits
The Social Security Optimization tool helps you compare different claiming strategies and understand how timing decisions may affect your lifetime benefits. By modeling various start dates and scenarios, it provides clarity around trade-offs between early income, long-term benefit growth, and coordination with other retirement income sources—supporting more confident planning decisions.
Your Information
Understanding Claiming Strategies
Full Retirement Age (FRA)
Your FRA is 67 if born in 1960 or later, 66-67 if born 1955-1959. This is when you receive 100% of your benefit.
Early Claiming (Age 62)
Claiming at 62 reduces your benefit by approximately 30% (if FRA is 67), but you receive benefits for more years. Best if you need income early or have shorter life expectancy.
Delayed Claiming (Age 70)
Delaying to 70 increases your benefit by 8% per year past FRA (24% total if FRA is 67). Best if you expect longer life, have other income sources, or want to maximize survivor benefits.
Break-Even Analysis
The "break-even age" is when total lifetime benefits from delayed claiming surpass early claiming. Typically occurs in late 70s to early 80s.
Important Factors: Consider health status, family longevity, other income sources, need for spousal/survivor benefits, and tax implications when deciding your claiming strategy.
Strategy Comparison
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Social Security claiming is one of the most important retirement decisions. Let's discuss a strategy that coordinates with your complete retirement income plan.
Schedule a ConsultationLong Financial Services | Educational Tool
This tool provides simplified Social Security benefit projections for educational purposes only. Actual benefits depend on your complete earnings history, future legislative changes, COLA adjustments, and SSA rules. This calculator does not account for spousal strategies, government pension offsets (WEP/GPO), survivor benefits, divorced spouse benefits, or taxation of benefits. Consult with qualified financial advisors and review your official Social Security statement before making claiming decisions.
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