> Your monthly benefit at your Full Retirement Age (FRA) of 67 is $3,613

Yes, like it says.  Early is now 62 and late is 70.  I already dismissed the numbers for those.  Late was like another grand a month for me.  I might take that if I am still in good shape and people still want me programming.

wrote:

There's no way I'm making it much past 62.

neither is social security

Low wage earner!
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wrote:

You have to pay in for a full 35 years to get that max.

By the time I am 67 I will have been paying in for like 51 years, although only 42 at a fairly high salary.

That is not the max, BTW, just my calculation.  The theoretical max apparently is $4,207 right now.  It will, I am sure, be more in 11 years.  That number is my number in 11 years, I assume.

SamplesBoi wrote:

By the time I am 67 I will have been paying in for like 51 years, although only 42 at a fairly high salary.

That is not the max, BTW, just my calculation.  The theoretical max apparently is $4,207 right now.  It will, I am sure, be more in 11 years.  That number is my number in 11 years, I assume.

https://www.ssa.gov/oact/cola/Benefits.html

They count your 35 highest years of earnings (that paid social security) if you don't have 35 years those are treated as zeros.

SamplesBoi wrote:

I will live like a king!

I can loan you a few bucks, if you run out of AI tokens in retirement...

HydeIsRich.png

YoungHyde.jpg

HydeParker wrote:

I can loan you a few bucks, if you run out of AI tokens in retirement...

HydeIsRich.png

YoungHyde.jpg

Sure.  I didn't count actual 401K and savings.  I am just looking at SS because that is what I looked up last night as I don't follow it as closely as my 401K.

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A lot of people work hard to pay in all their whole lives and then die at life expectancy or a bit early and never see all that much Social Security benefit before they’re impoverished anyway.
SS should be regionally the same for everyone, meaning somebody living in Bartlett gets enough to get by in Bartlett, and that is a different average amount than the baseline for New York, Los Angeles, etc. But then they'd actively encourage people to move to more affordable locations.

So someone who was arrested for child rape and did 30 yaers in prison should receive gthe same amount as someone who worked 50 years and was never arrested?

Just so you know social security is already skewed to those who earned less.  Just because I paid twice the social security tax as someone who did work as hard does not mean I receive twice the benefit.

To retire people simply need to get smart.  Save the max in a 401K and the only debt you should ever have is a mortage and mortgages should be paid off in 20 or less years.

But we have idiots have $50,000 in credit card DEBT and pay 22.15% interest $11,000 a month in fuqing interest.  Yeah, some are just this fuqing stupid but they blame Trump.

The average credit card interest rate on accounts incurring interest is 22.15%, according to Federal Reserve data, while weekly tracking of new credit card offers averages around 23.82% to 24.95%

Other than the OP and the LP, lots of GED and DK in retirement ITT.