The Hidden Social Security Math Nobody Shows Retirees

[AR67GTX]

I had my wife start taking SS as soon as she was eligible, thinking at the time that the system was quickly going broke. But by the time I started contemplating retirement I was less concerned about its immediate future. So I decided to wait to start mine until I quit working. As an old Civil Service Fed retiree I wasn’t going to get a full draw anyway. by the time I gave up working at 69 I decided I might as well wait a bit longer until it maxed out at 70. Part of this decision to delay mine was due to my Grandfathers both living to 98 and my Dad is knocking on the door of 101. My Mothers side isn’t quite as good but all you can do is roll the dice. It’s a complex decision to make and a lot of unknowns in the equation.

 

[BSB67]

Bullet 3 high earner. Not sure what $$$ considered high,…..

It’s not “high earner”. It’s “higher earner”. It’s a relative statement.

 

[Hemirunner]

Are any of you investing in your spiritual future? Between Klaus Schwab wanting to take all you own and Bill Gates trying to depopulate the world, your chances of a long, peaceful life of retirement are slim. Just food for thought. Carry on!

 

[Unkle Krusty]

We all have minute particles of radiation, plastics and lots of other stuff in our systems. Health is likely the biggest issue for most folks. I have a ticking sound in the mighty 318 that needs attention. The average life span for a guy is 78 to 80, depending on location. I am there. I also get to sleep with a cute blonde, and ride an SV1000. Can I quote Alfred E Newman?

 

[j-c-c-62]

Surprised in 5? pages there is no mention of the expected 25%? SS reduced benefits in 2033? as the contribution stream falls way short.
Of course, many here at time will only be a memory.
I personally starting collecting 2 years after FRA, right about when COVID shut my industry completely down.
My investment portfolio divorced me.

 

[j-c-c-62]

I know that is the common thinking.
But no, it was never "My money".
It was only a campaign promise, IE worth little, and your contributions paid your parents benefits, your kids or somebody's kids are paying yours, and if you read closely the personal annual benefit information sheet mailed out, it clearly states benefits are at the whim of the current congress, what others have "promised" means little.
Or a classic Ponzi scheme that it has been since day one.

 

[YY1]

Surprised in 5? pages there is no mention of the expected 25%? SS reduced benefits in 2033? as the contribution stream falls way short.
Of course, many here at time will only be a memory.
I personally starting collecting 2 years after FRA, right about when COVID shut my industry completely down.
My investment portfolio divorced me.

That's even more incentive to take it as early as you can get it, if you can get it before that happens.

 

[Hemirunner]

That's even more incentive to take it as early as you can get it, if you can get it before that happens.

I’m 57 and I’m expecting to have donated all these years for nothing… I would have been better off not participating at all.