Post #519 by intercst on the Retirement Investing board

Personal Finance Topics / Retirement Investing

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I just downloaded my annual SS statement. Waiting the 15 months from today to my 70th birthday increases my monthly benefit by 17.7% (plus whatever inflation adds over the next 15 months.)

Also interesting that my annual benefit at age 70 is 86% of my lifetime FICA taxes paid.

Pretty good for someone who hasn’t paid much into the system over the past 30 years. (I quit working at age 38 to live off portfolio withdrawals taxed at a much lower rate.)

Though the sweet spot for a max-FICA wage earner from their mid-to-late 20s would be to retire at age 45 or so, I'm glad I got out several years earlier. {{ LOL }}

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

intercst

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