The calculator assumes your retirement age is the age at which you will be eligible for full Social Security benefits. If you have already reached full retirement age, the calculator assumes you will retire in one year. However, you can enter any age between 35 and 87 as long as you have at least one year until retirement. The calculator requires a minimum of one year before retirement to graph your results.
The age at which you retire can have an impact on your Social Security benefits. The full retirement age ranges from 65 (for those born before 1938) to 67 (for those born after 1959). You can generally start receiving reduced Social Security benefits at age 62. The longer you wait to take benefits, the more your benefits will increase, until age 70. Withdrawals from retirement accounts made before age 59-1/2 may be subject to income taxes and early withdrawal penalties, which the calculator does not apply.
The following table shows the full retirement age for retired workers and spouses.* The calculator rounds the full retirement age up to the nearest whole year.
| Year of Birth | Full Retirement Age |
|---|---|
| 1937 and before | 65 |
| 1938 | 65 and 2 months |
| 1939 | 65 and 4 months |
| 1940 | 65 and 6 months |
| 1941 | 65 and 8 months |
| 1942 | 65 and 10 months |
| 1943–54 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and after | 67 |
Source: Social Security Administration. If you were born on January 1, consider the previous year as your year of birth.
* Full retirement age information for widows and widowers is slightly different.
The calculator does not adjust Social Security benefits taken earlier or later than full retirement age. If you plan to retire at age 62 or later, the calculator assumes your Social Security benefits begin at retirement. If you plan to retire before age 62, the calculator assumes Social Security benefits begin at age 62.
If you are married and plan to retire in a different year than your spouse, the calculator assumes that retirement begins on the earlier of the two dates. The working spouse’s salary will be treated as income earned in retirement. If you plan to retire in a different year than your spouse, consider running the calculator for each spouse separately and indicating “Single.”
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