Retirement Path Planner Glide
Calculate retirement path glide with our free tool. Get data-driven results, visualizations, and actionable recommendations.
Reviewed by Daniel Agrici, Founder & Lead Developer
Formula
Early: Benefit x (1 - 5/9% x months early for first 36mo, then 5/12%) | Late: Benefit x (1 + 8%/yr past FRA)
Break-even age = FRA + (monthly reduction × months claimed early) / (monthly delay credit). This calculator compares cumulative lifetime benefits at ages 62, FRA, and 70, then finds your break-even age — the point where delaying pays off. Enter your life expectancy to see which claiming age maximizes total lifetime Social Security income.
Worked Examples
Example 1: Born 1970, $2,500/month at FRA
Problem:Compare benefits at ages 62, 67 (FRA), and 70 with a $2,500 monthly benefit at full retirement age.
Solution:At 62: $2,500 x 70% = $1,750/month ($21,000/year)\nAt 67 (FRA): $2,500/month ($30,000/year)\nAt 70: $2,500 x 124% = $3,100/month ($37,200/year)\nBreak-even 62 vs 67: ~age 78\nBreak-even 67 vs 70: ~age 82
Result:Age 62: $1,750/mo | Age 67: $2,500/mo | Age 70: $3,100/mo
Frequently Asked Questions
What is full retirement age for Social Security?
Full retirement age (FRA) depends on your birth year. For those born 1943-1954, FRA is 66. It gradually increases: 1955 = 66+2mo, 1956 = 66+4mo, 1957 = 66+6mo, 1958 = 66+8mo, 1959 = 66+10mo. For 1960 and later, FRA is 67. Claiming before FRA reduces benefits permanently; delaying past FRA increases them by 8% per year until age 70.
What is the difference between a traditional and Roth retirement account?
Traditional 401(k)/IRA contributions reduce taxable income today but withdrawals in retirement are taxed as ordinary income. Roth accounts use after-tax contributions with no upfront deduction, but qualified withdrawals (age 59½+, 5-year holding) are completely tax-free including all growth. Choose Roth if you expect higher taxes in retirement; choose traditional if you expect lower rates. Roth IRAs have no required minimum distributions, unlike traditional accounts. Holding both provides tax flexibility at withdrawal.
What is the 4% rule for retirement withdrawals?
The 4% rule suggests withdrawing 4% of your portfolio in the first year of retirement, then adjusting for inflation each year. Based on historical data, this approach has a high probability of making your portfolio last at least 30 years.
References
Reviewed by Daniel Agrici, Founder & Lead Developer · Editorial policy