When Should You Start Social Security? It Depends.

Written by John Davis, CFP®, EA

I often tell clients, “If you could tell me when you're going to die, I could tell you exactly when to start Social Security.” It’s a bit tongue-in-cheek, but it gets to the heart of the issue: timing your Social Security benefits is largely a bet on longevity.

While life expectancy is the biggest variable, it’s far from the only one. Marital status, benefit amounts for each spouse, whether you're still working, other sources of income, and whether you need the benefit to support your lifestyle or it's just “extra” all play into the decision.

Let’s unpack the key considerations.

Longevity: The Core Variable

Social Security is designed to be actuarially neutral—meaning whether you start at 62 or 70, the system expects to pay out roughly the same total amount over your lifetime. But that’s based on averages. If you live longer than average, delaying benefits increases your lifetime payout. If you pass away earlier, starting sooner may be better.

This is why I encourage couples to “hedge their bet.” For example, if there’s a three-year age difference between spouses and both live into their mid-80s or beyond, the math says both should wait until 70 to start. But Social Security’s period life table shows that for a couple age 60, the probability of both reaching their mid-80s is less than 50%. The more likely outcome is that one spouse passes earlier, leaving benefits on the table.

Hedging Strategy for Couples

A practical approach is for the spouse with the higher benefit—or the older spouse—to delay until age 70, while the other spouse starts as early as possible. This way, one spouse collects benefits for years that might otherwise be lost. If the higher-benefit spouse passes first, the surviving spouse can step into that larger benefit, thanks to Social Security’s survivor rules.

This strategy balances the risk of early death with the reward of longevity. It’s not perfect, but it’s often more realistic than assuming both spouses will live to 90.

Spousal and Widow Benefits: Nuanced but Valuable

Social Security has closed some loopholes, like the “file and suspend” strategy, but there are still opportunities for savvy planning.

Widows can claim their deceased spouse’s benefit and allow their own benefit to grow until age 70. This can be a powerful way to maximize lifetime income, especially if the widow’s own benefit is significantly higher.

Spouses who have enough credits to claim on their own record can start at Full Retirement Age (FRA) and later switch to spousal benefits. Spousal benefits are 50% of the higher earner’s benefit at FRA—not at age 70. This is a common point of confusion. If the higher earner delays past FRA, the spousal benefit doesn’t grow. And if the spouse claims their own benefit before FRA, their future spousal benefit is reduced due to the deemed filer rule.

Working While Claiming

If you're still working and claim benefits before FRA, you may be subject to the earnings test, which can reduce your benefit. After FRA, you can earn as much as you want without penalty. This makes delaying more attractive for those still in the workforce.

Lifestyle Needs vs. Optimization

Some clients need Social Security to support their lifestyle. Others view it as a bonus. If you need the income, claiming earlier may be necessary. But if you can afford to wait, the long-term payoff can be substantial.

So, When Should You File?

As with most financial decisions, the answer is: it depends. Understanding your own benefit structure, marital dynamics, health outlook, and income needs is essential. Social Security isn’t just a government check—it’s a strategic asset. And like any asset, timing matters.