Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of RI | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search RI
Shrewd'm.com Merry shrewd investors
Best Of RI | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search RI


Personal Finance Topics / Retirement Investing
Unthreaded | Threaded | Whole Thread (1) |
Author: intercst   😊 😞
Number: of 598 
Subject: Work Longer for a Larger SS Benefit?
Date: 07/25/2024 2:45 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 4
One thing that always surprises me is the idea of working longer to secure a larger SS check. If you're a max-FICA wage earner, you secure 77% of the maximum Social Security monthly benefit after working for about 17 or 18 years when you reach the 2nd bend point of the AIME calculation. Working long enough to have 35 years of max-FICA earnings only gets you that remaining 23% while about doubling the amount of FICA taxes you pay.

https://retireearlyhomepage.com/socialsecurity2023...

I'll be starting my Social Secrity benefit about 18 months from now at age 70. I'm astonished at the size of my check given that I've paid almost nothing into the program for the past 30 years.

intercst



Post New | Post Reply | Report Post | Recommend It!
Print the post
Unthreaded | Threaded | Whole Thread (1) |


Announcements
Retirement Investing FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of RI | Best Of | Favourites & Replies | All Boards | Followed Shrewds