Early vs. Full Retirement - What is the breakeven age for SSA Benefits?

In this video, I demonstrate how to calculate the Social Security breakeven age using two methods: a simple formula you can calculate on your phone using the calculator and a detailed example in Excel. The break-even point represents when the cumulative benefits even out. Comparing 62 to 67, you have been collecting money for 60 months. When you turn 67, you start collecting more than you do at 62. When do these two numbers meet?
We'll examine both theoretical and realistic scenarios to help you understand the math behind early retirement at age 62 versus full retirement at age 67. This guide will also show you how to use the Social Security Administration's tools to predict your life expectancy and make informed decisions about your retirement.
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Download the Excel file provided and follow along to see at what age you'll break even.
chrismenardtraining.com/Files...
00:00 Introduction to Social Security Breakeven Age
00:43 Method 1: Calculating Breakeven Age Using Excel
03:28 Method 2: Realistic Numbers and SSA Data
05:13 Detailed Calculation and Analysis
06:43 Life Expectancy and Retirement Planning
07:52 Conclusion and Additional Resources
Social Security Administration Life Expectancy Calculator
www.ssa.gov/OACT/population/l...
Click the drop-down and select male or female
Add your date of birth.
Click Submit
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[@reyesmaria323]

Nice spreadsheet - thanks! Quick quest tho, where does the Delayed Retirement come into play? Can we just substitute the Full Retirement data points with the Delayed Ret data points to see the breakeven between Early & Delayed? And vice versa, the breakeven between Full & Delayed?

[@gregorytaylor2749]

When I looked at receiving SSA benefits, I learned that if you are still working, the SSA will retain $1 for each $2 that you earn over a specific $ amount. I would have received no SSA benefits, so I decided to wait until full retirement age.

[@ChrisMenardTraining]

That is true!