PwC Survey Finds 83% of Consumers Favor Financial Resilience Over Higher Returns

Q: Why might the popular 62/70 split strategy for married couples secretly backfire if health issues arise unexpectedly?

It can backfire because the 62/70 split assumes the higher earner will live long enough to benefit from waiting until 70. If serious illness or an early death strikes before or soon after age 70, the couple may give up years of payments they could have collected earlier, and the delayed-claim math may never fully pay off. The risk is especially important when health changes unexpectedly. Delaying boosts the higher earner’s monthly benefit by about 8% a year after full retirement age, and that can meaningfully increase the survivor benefit if that spouse dies later. But if the higher earner dies before claiming, or before collecting the larger benefit for very long, the household may have spent down savings to bridge the gap without receiving enough extra Social Security to offset it. There is also a survivor-rule complication. If the higher earner had claimed early, the survivor benefit may be limited by the RIB-LIM rule, but if the worker successfully delays to 70, the survivor can inherit that larger check. The problem is timing: a health shock can make the couple wish they had locked in some income earlier instead of waiting for an increase they may not enjoy for long. That is why experts stress that claiming is not just a “maximize the check” exercise. Health status, family longevity, cash reserves, and the possibility of high medical costs can make a rigid 62/70 strategy less resilient than it looks on paper.

2 articles · Updated · 24/7 Wall St. · Aug 12

Eighty-three percent of U.S. consumers now rank financial resilience above boosting long-term returns, according to PwC’s 2026 Market Volatility Survey fielded from May 27 to June 3.
Volatility is driving that shift: 76% said they are prioritizing liquidity and emergency preparedness, while just 18% are willing to take more risk for extra returns.
Retirement planning is a key pressure point, with 71% saying market swings changed how they think about retirement and the report arguing that early Social Security claims can lock in lower lifetime income.
For savers near retirement, PwC highlights delayed claiming as a resilience tool because benefits are inflation-adjusted, last for life, and can rise about 8% a year after full retirement age until 70.