Social Security
What will Social Security pay if you retire early?
Your statement assumes you keep working until you claim. If you stop at 45 or 50, those missing years lower your benefit. This estimate counts them, and shows what claiming at 62, 67 or 70 does to your plan.
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How it's calculated
Social Security averages your 35 highest years of earnings (up to the yearly cap, $184,500 in 2026) into a monthly figure, then pays 90% of the first $1,286, 32% of the amount up to $7,749, and 15% above that. That's your benefit at full retirement age, 67 for anyone born in 1960 or later. Claiming at 62 cuts it to 70%; waiting to 70 raises it to 124%. Years you don't work count as zero in the average, which is why retiring early lowers it.
Everything is in today's dollars: the formula rises with wages and benefits rise with inflation. "What it's worth" divides the yearly benefit by a safe withdrawal rate for a retirement starting at that age.
Sources: SSA 2026 bend points, contribution and benefit base, and quarter of coverage amounts; SSA rules for early and delayed claiming; the 2026 Social Security Trustees Report; the Social Security Fairness Act (2025). For education and planning; your statement at ssa.gov has your actual earnings record.