Social Security Benefit Comparison Calculator
Compare two claiming scenarios side by side. Enter your benefit at Full Retirement Age, birth date, benefit start date, life expectancy, and an annual COLA assumption.
Scenario A
Age at benefit start
62 yrs 2 mo
Scenario B
Age at benefit start
69 yrs 11 mo
Benefit at FRA, date of birth, age at death, and COLA carry over from Scenario A.
Results
Full Retirement Age
Scenario A
67 yrs 0 mo
Scenario B
67 yrs 0 mo
B − A
—
Age at benefit start
Scenario A
62 yrs 2 mo
Scenario B
69 yrs 11 mo
B − A
—
Months early (−) / late (+) vs FRA
Scenario A
-58
Scenario B
35
B − A
93
Adjustment factor
Scenario A
70.8%
Scenario B
123.3%
B − A
52.5%
Starting monthly benefit
Scenario A
$1,346
Scenario B
$2,343
B − A
$998
Starting annual benefit
Scenario A
$16,150
Scenario B
$28,120
B − A
$11,970
Monthly benefit in final year
Scenario A
$2,966
Scenario B
$4,238
B − A
$1,273
Projected date of death
Scenario A
06/15/2058
Scenario B
06/15/2058
B − A
—
Months of benefits received
Scenario A
393
Scenario B
300
B − A
-93
TOTAL LIFETIME BENEFIT (with COLA)
Scenario A
$804,320
Scenario B
$960,516
B − A
$156,196
Breakeven analysis
Later-claiming scenario
Scenario B
Breakeven date
01/01/2047
Age at breakeven
83 yrs 6 mo
The later-claiming scenario catches up on 01/01/2047; living beyond that date favors claiming later.
Scenario B provides $156,196 more in total lifetime benefits.