For Americans of a certain age, this may not be the biggest question.
At what age should you start receiving Social Security? At 62? 65 years old? 70?
This question is important because your monthly Social Security check gets larger each time you wait to claim it, from age 62 to age 70.
As it turns out, from a purely financial perspective, there’s a simple answer to this question, and it can be found on Social Security’s website.
How much money you end up collecting in Social Security ultimately depends on how long you live. To answer that question, a good place to start is with the Social Security Life Expectancy Calculator.
You’ll quickly arrive at the correct calculation. But first, there’s a wrong calculation here.
The best age to claim Social Security if you live to age 74.8
According to the Centers for Disease Control and Prevention, the average life expectancy is 74.8 years for American men and 80.2 years for women.
For men nearing retirement, it may seem prudent to use age 74.8 as the basis for calculating the ideal age to claim Social Security. And remember, the longer you delay claiming benefits, the bigger your monthly check will become.
Here’s a quick comparison of how much a retiree would receive in lifetime Social Security benefits if they died at age 74.8, depending on when their first benefit check was drawn. Use sample benefit amounts from the Social Security website.
A hypothetical retiree who is 62 years old can claim a monthly check worth $1,400. Assuming he lives to age 74.8, he will receive a check for 12.8 years, or 154 months. His total lifetime Social Security benefits will be approximately $215,600, not including cost-of-living adjustments.
Our retirees can claim a check for $1,733 at age 65. But he will only receive that check for 9.8 years. His total lifetime benefits will be reduced to about $204,500.
And the numbers go downhill from there. Our retirees will receive a check worth $2,480 by age 70, but only for 4.8 years. Lifetime benefits: approximately $143,800.
Based on this calculation, the typical American man would be wise to claim Social Security at age 62, the first year of eligibility.
And what do you think is the most popular age to claim Social Security?
Many retirees are doing just that. According to Bankrate’s analysis, 62 is the most popular age to receive Social Security.
The obvious reason so many Americans take Social Security early is because they need the money. According to multiple studies, the average American retires at age 62. Retirees are supposed to use savings, other assets, and income to supplement Social Security, but many Americans don’t save for retirement.
There are several other reasons retirees claim Social Security early.
“People say, ‘I want to get the money while I can. I don’t know how many years I have left to live,'” Motley Fool senior adviser Robert Brokamp told USA TODAY in early 2025.
Retirees also worry that benefit programs will be underfunded. “They’re concerned about Social Security being underfunded,” Brokamp said. Retirement trust funds are expected to run out of money within 10 years.
Some retirees take Social Security early because they feel they have no other choice. “A lot of people don’t have enough savings,” Monique Morrissey, a senior economist at the Economic Policy Institute, told USA TODAY in an interview in early 2025. “Also, drawing down savings makes people anxious, even if it’s the right thing to do.”
But both Brokamp and Morrissey think most retirees should wait until age 70 to claim Social Security. The reason for this is simple and lies in the longevity of humans.
The average life expectancy for American men, quoted earlier, is 74.8 years, which is true, but misleading.
This is the average life expectancy of a male at birth. As we get older, our lifespan increases. By the time an American man reaches age 62, his life expectancy is much longer.
The best age to claim Social Security if you live to age 83.6
According to the Social Security Calculator, the average life expectancy for an American man who turns 62 in early 2025 is 83.6 years. That means he could live another 21.6 years. Women on that birthday are expected to live to be 86.5 years old.
Now, let’s calculate how much money a hypothetical newly long-living man could withdraw from Social Security over the rest of his expected lifespan.
A hypothetical retiree can still claim a monthly check worth $1,400 at age 62. But now we assume he will live to be 83.6 years old. That means he will receive checks for 21.6 years, or 259 months. His total lifetime earnings, excluding cost-of-living adjustments, now total approximately $362,600.
A 65-year-old retiree can claim a check for $1,733. And now he will receive that check for 18.6 years. His total lifetime income amounts to approximately $386,500.
And the numbers go up from there. By age 70, our retirees will receive a check worth $2,480, which they can expect to claim for 13.6 years. Lifetime benefits: approximately $404,200.
“I’m not in the business of giving advice, but I can tell you about averages,” Gal Wetzstein, senior research economist at Boston University’s Center for Retirement Research, told USA TODAY in an interview in early 2025. “If you just look at average numbers, it’s better to postpone claiming as late as possible, until age 70.”
When is the best age for women to claim Social Security?
So let’s calculate when a woman should claim Social Security based on how long she expects to live.
For women, the decision is easier because women live longer.
The average life expectancy at birth for an American woman is 80.2 years.
A hypothetical female retiree who is 62 years old can claim a monthly check worth $1,400. Assuming she lives to age 80.2, she will receive a check for 18.2 years, or about 218 months. Her total lifetime Social Security benefits, not including cost-of-living adjustments, would be approximately $305,800.
Our retirees will receive a check worth $2,480 by age 70, but over a shorter period of 10.2 years. Lifetime benefits: approximately $303,600.
These lifetime benefits are more or less the same.
When the hypothetical woman reaches retirement age, her lifespan increases to 86.5 years.
A hypothetical retiree can still claim a monthly check worth $1,400 at age 62. But now we assume she will live to be 86.5 years old. That means she will receive checks for 24.5 years, or 294 months. Her total lifetime earnings, excluding cost-of-living adjustments, now total approximately $411,600.
Her lifetime benefit increases with age. By age 70, our retirees will receive a check worth $2,480, which they can expect to claim for 16.5 years. Lifetime benefit: approximately $491,000.
Living to 100: The “worst-case scenario” for retirement finances
In a 2022 research paper, three economic researchers concluded that more than 90% of Americans should wait until age 70 to claim Social Security to maximize benefits. Possible exceptions include people who are in desperate need of money or who are unlikely to live very long.
“Some people should wait, and some people will get pancreatic cancer,” Boston University economist and study co-author Lawrence Kotlikoff told USA TODAY in early 2025.
Kotlikoff urges most retirees to claim Social Security benefits at age 70, but the reason is not about life expectancy. In fact, he has accused the Social Security Administration of economic “misconduct” by posting a longevity calculator on its website.
For Kotlikoff, the reason for delaying enrollment in Social Security is based on maximum life expectancy, not average life expectancy. Kotlikoff said most retirees need to “plan to live to the maximum age of their lives.” In other words, your retirement plan should assume that you might live to be 100 years old.
“You have to think about the worst-case scenario,” he says. “You can’t play against odds.”
Kotlikoff said if you plan on living to 100, you should wait until age 70 to claim Social Security.
“Most households enroll in Social Security right after they retire, but that’s too early,” he said.
Here’s how Social Security was created in the United States
Social Security benefits are often talked about in the United States, but have you ever wondered how they work and whether they’re taxable? Here’s a breakdown.
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