When should you claim Social Security?

Compare the lifetime Social Security benefit for each claiming age from 62 to 70.

Who’s planning?
Individual
$
 Estimate
Partner
$
 Estimate
How long will you live?

We estimate each person’s life expectancy from Social Security’s mortality tables: nudge it shorter or longer if you expect to differ, or enter a specific age instead. The comparison weighs each claiming age against how long you live.

Individual
Life expectancy
Mortality table
Partner
Life expectancy
Mortality table

Assumptions

Economy

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Waiting to claim means spending savings that could otherwise stay invested: the opportunity cost of delaying. Enter what you expect your assets to earn overall. What matters is the part above inflation (benefits already rise with inflation), so keep it conservative: money you may need soon can’t chase stock-market returns. A sensible default is about 2% above inflation.

Social Security funding

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Social Security’s trust funds are projected to run short in the 2030s; without action, scheduled benefits could be cut. Model that here: 100% leaves benefits unreduced.

For general information only, not financial, tax, or legal advice. See our Terms of Service.