How Life Expectancy Impacts Decisions About Social Security

A person’s personal life expectancy plays a key role in decisions that they make about Social Security.  Taking out early benefits can have consequences for the amount of benefits that a person will receive.  For single retirees that don’t have any children the decision about whether to take out early Social Security will often depend on their health and life expectancy.  Things get more complicated when there is a spouse or other family members involved who can claim as beneficiaries.  There is also a possibility that lawmakers might change Social Security policies in the future because the average life expectancy is continuing to rise.  Any potential policy change will have an impact on whatever retirement planning a person has done and plans to do in the future. 

See Dan Caplinger, How Does Life Expectancy Affect Social Security Decisions?, The Motley Fool, April 24, 2016.