If Your Parents Died in Their 70s, Should You File for Social Security Early?

When deciding when to start Social Security, life expectancy is one of the biggest factors to weigh.

If a person waits until age 70 to collect the largest possible benefit but dies not long afterward, claiming earlier might have been the better choice. Since waiting usually only pays off if you live into your 80s, some people look at how long their parents lived. Even so, family history is not always a reliable guide to your own lifespan. A few important points can help you think through the best time to claim.

Is family history a good guide?

The age at which your parents died does not fully determine how long you will live. Your own lifestyle, access to medical care and available treatments often matter more than genetics. Medicine has also improved over time, making some causes of death easier to prevent or manage.

A better approach is to consider your own health and habits. Some people die in their early 60s because of poor health, while their children may live into their 70s or 80s thanks to exercise and healthier routines. In short, parents dying in their 70s does not mean you will follow the same pattern.

The Social Security Administration tool

The Social Security Administration offers a life expectancy calculator that estimates how long the average person may live. For people in their 60s, it can provide a general sense of how much time they may have left, but it does not promise an exact outcome.

The calculator only asks for your date of birth and sex. That allows the agency to give a broad estimate, but it leaves out important factors such as health history, fitness, diet and sleep habits.

Finding a middle ground

Choosing when to claim Social Security does not mean you must pick only between age 62 and age 70. Many people choose a middle path and file later, such as at 64 or at full retirement age.

Claiming before full retirement age can cause part of your benefits to be withheld if you are still working. Those withholding rules stop once you reach full retirement age. In other words, there is plenty of flexibility: you do not have to claim as soon as you turn 62, and you also do not have to wait until 70.

What married couples should weigh

Married couples have another important consideration when deciding when to claim. If the higher-earning spouse delays and ends up with a larger benefit, that also increases the survivor benefit available to the lower-earning spouse.

If the lower-earning spouse is younger, it may make sense for the higher earner to delay claiming for as long as possible. But if the spouse is much older, the higher earner may have more freedom to choose an earlier claiming age.