Social Security calculator shows minimal filing age difference - what life expectancy do they use?
Hey everyone, I've been playing around with the OpenSocialSecurity.com calculator trying to figure out my best claiming strategy. Just discovered you can adjust the claiming dates at the bottom to see lifetime benefit differences! Interesting that there really isn't a huge financial difference between claiming ages like everyone says. What I can't seem to find though is what life expectancy they're using in their calculations. Probably doesn't change the bottom line much, but I'm curious if anyone knows what mortality tables they're basing this on? My family tends to be pretty long-lived (grandparents all made it past 90), so I wonder if that should factor into my decision more than their standard assumptions.
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StarSurfer
The calculator uses actuarial life expectancy tables from the Social Security Administration itself, which is about 84-86 years for someone reaching 65 today. However, they also incorporate something called "mortality-weighted net present value" which accounts for the time value of money and probability of survival each year. This is why the results often show less difference between filing ages than you might expect. What you should know is that you can actually input your own life expectancy in the calculator if you go to the advanced settings! Since longevity runs in your family, you might want to adjust this upward and see how it changes the optimal claiming recommendation.
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Isabella Costa
•Oh wow, I completely missed that advanced settings option! Thank you so much for pointing that out. I'll definitely try adjusting that and see what it does to the recommendations. Really appreciate the explanation about the mortality-weighted calculations too - that makes a lot more sense now.
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Ravi Malhotra
I tried that site and got totally different results when I put in my wife's info too. said I should file at 70 and she should file at 62? makes NO sense to me but whatever
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StarSurfer
•That's actually a common optimal strategy called "file and suspend" where the lower-earning spouse files early while the higher-earning spouse delays until 70. This maximizes survivor benefits if the higher earner passes away first. The calculator is likely showing this because it's financially optimal in many cases, especially with significant earnings differences between spouses.
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Freya Christensen
Anyone else notice that site gives different answers depending on what inflation rate you enter? I don't trust ANY of these calculators honestly. SSA reps told me different things each time I called them too!!
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Omar Hassan
•YES!! This is why I ended up using Claimyr to actually get through to a knowledgeable SS agent. I was getting different answers from everyone and the online calculators. Used claimyr.com and got connected to an agent in 20 minutes instead of waiting on hold forever. The agent walked me through all the calculations specific to my situation. They have a video showing how it works here: https://youtu.be/Z-BRbJw3puU - saved me so much frustration after weeks of getting nowhere.
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Chloe Robinson
I HATE how they design these calculators to push everyone to delay claiming until 70!!!! The government wants us all to DIE before collecting our benefits that WE PAID FOR!!!! My father died at 69 after working 45 years and NEVER SAW A PENNY of his benefits!!! Don't fall for their tricks - take what's yours as soon as you can!!!!!
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Diego Chavez
•I understand your frustration about your father, but the calculators aren't designed to push people to claim later - they're just doing math based on life expectancy. The break-even point between claiming at 62 vs 70 is typically around age 80-82. If someone lives past that age, they'll collect more total benefits by waiting. If they don't reach that age, they'd collect more by filing early. It's really just a personal bet on your own longevity, not a government trick.
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NeonNebula
my brother in law is useing that calculator and he said the life expectancy is something you can change yourself? maybe look in settings? he said hes putting in 95 since his mom is 92 and still going strong lol
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Isabella Costa
•Thanks! Another commenter mentioned the advanced settings too - I'll definitely check that out. Sounds like your brother-in-law has good genes in the family just like mine!
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Diego Chavez
It's worth noting that when Social Security was first established in 1935, the average life expectancy was only around 61 years, while the full retirement age was 65. Today, average life expectancy is approximately 79 years, and many people live well into their 90s. This demographic shift is precisely why the calculator often suggests later filing for many people - you're statistically likely to collect benefits for 20+ years, unlike the original design of the program. Regarding the OpenSocialSecurity calculator specifically, it uses a combination of SSA actuarial tables and a 2% real discount rate by default. The most important thing to understand is that there's no universally "best" claiming age - it depends on your individual circumstances, including health, family history, financial needs, and spousal considerations.
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Ravi Malhotra
•so your saying the whole system was designed so most people would DIE before collecting?? thats messed up man
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Omar Hassan
I went to a retirement seminar last week and the financial advisor said most of these online calculators are pretty accurate. He recommended that site specifically! He also said to add 5-7 years to whatever you think your life expectancy is because most people underestimate. Apparently women especially tend to live longer than they plan for financially.
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NeonNebula
•did the advisor try to sell you anything? my cousin went to one of those "free" seminars and got pressured into buying some annuity thing that she didnt need at all. be careful!
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Freya Christensen
I think what matters more than the life expectancy they use is your OWN family history and health. My parents both passed in their early 70s from heart issues that run in the family, so I'm planning to claim at 62. No calculator knows YOUR situation!
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StarSurfer
•That's absolutely correct. While statistical averages are useful for general guidance, your personal health, family history, and financial situation should ultimately drive your decision. For someone with health concerns or family history of shorter lifespans, claiming earlier can be the rational choice. The "optimal" claiming strategy is always personal.
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