Originally posted by Eye3md
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So after reading this thread, I was curious and set up an account at the social security site and got this:
So these numbers are for like in 20 some years. $3800 a month 25 + years from now doesn’t sound like a lot of money????? Wife doesn’t work so will not contribute much to SS. Am I wrong reading this? Are these numbers inflation adjusted?
Is there a calculator that estimates if you go part time? This calculator seems to assume you will continue contributing the same amount till you retire, which isn’t going to be my case.
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The math behind SS is complex. Mike Piper has a book on the subject. So does Larry Koltikoff (?sp). Basically it use your highest earnings over 35 years, inflation adjusts them and calculates your benefit. There is a max each year so earning above a threshold does not help you. It is better to work more years earning moderately as far as SS is concerned. Social security is indexed to inflation.
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