Guide
Social Security timing.
Social Security is not just an income number. The age you claim can change the size and timing of the benefit used in a retirement plan.
The Social Security Administration says retirement benefits can start as early as age 62, but claiming before full retirement age reduces the monthly benefit. Full retirement age depends on birth year, and for people born in 1960 or later it is 67.
Delaying after full retirement age can increase the monthly benefit, but delayed retirement credits stop at age 70. That means waiting beyond 70 does not keep increasing the retirement benefit.
The calculator uses a simplified modeled benefit when Social Security is turned on. Treat that as a planning placeholder. For a real plan, compare calculator scenarios against your own Social Security estimate and possible claiming ages.
Bridge years
If you retire before claiming, the portfolio may need to cover full spending for several years. Those bridge years can be expensive and should be modeled directly.
Longevity tradeoff
A larger delayed benefit can help later in life, while an earlier benefit may reduce portfolio withdrawals sooner. The better choice depends on health, cash flow, spouse benefits, and risk tolerance.
Official resources
Use the SSA retirement age and benefit tools before relying on a placeholder. Start with the official Social Security retirement age planner.
Compare with and without Social Security