Step 6: Use a Social Security Calculator to Run Scenarios

Once you understand your earnings history, your FRA, and your marital benefit options, it is time to model your actual retirement. The SSA provides a built-in Social Security calculator on your account dashboard that assumes you will continue working at your current salary until your chosen claiming date. While helpful, this default assumption rarely matches reality.

Many retirees choose to stop working at 60 but delay claiming benefits until 65. If you stop working early, those zero-income years get factored into your 35-year average, slightly reducing your final benefit. To get an accurate retirement benefits estimate under these conditions, use the SSA’s Detailed Calculator. This tool allows you to input exact future dates for when you plan to stop working and when you plan to start claiming, separating the two events.

You can also leverage third-party tools to cross-reference your numbers. The AARP provides an excellent, user-friendly calculator that helps married couples optimize their joint claiming strategy. By running multiple scenarios—such as one spouse claiming early while the other delays—you can identify the exact combination that maximizes your lifetime household income.