Social Security & Medicare

Shermann

(8,682 posts)

23. I guess we're going there

Sun Jan 28, 2024, 11:34 AM

Jan 2024

Social Security follows English common law that finds that a person attains an age on the day before the birthday. So, your indexing year is the year you actually turn 59.

https://secure.ssa.gov/poms.nsf/lnx/0300615015

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Social Security: The Best and Worst Years To Be Born [View all] Shermann Jan 2024 OP

Sounds about right, I was born in 1949 and I'm very happy with my Social Security Walleye Jan 2024 #1

1949 for me as well,,, KarenS Jan 2024 #2

Me as well. NoRethugFriends Jan 2024 #6

Me too! LovelyStuff Jan 2024 #13

49er here. mwb970 Jan 2024 #18

Ditto! William Seger Jan 2024 #22

Good grief. What a bunch of old farts. Wink Wink flashman13 Jan 2024 #32

'52 here and I have no complaints. Chainfire Jan 2024 #29

"The best birth year in the modern era? That would be 1949".. me too. My buddy who was born the same year mitch96 Jan 2024 #40

Born in'47. MOMFUDSKI Jan 2024 #3

Interesting. Is there a link? Thanks. enough Jan 2024 #4

There isn't a lot of awareness about this Shermann Jan 2024 #19

IIRC, SS benefits were not taxed until St. Ronnie Raygun went on his mission to destroy the middle class. OMGWTF Jan 2024 #25

He and Greenspan gouged out a big chunk of Social Security Farmer-Rick Jan 2024 #37

That's that basis value that I referred to in post 19 Shermann Jan 2024 #48

Thanks for that explanation Farmer-Rick Jan 2024 #50

You can get indexing information from SSA here... Peer Gynt Jan 2024 #24

Cool, thanks. 2naSalit Jan 2024 #41

Actually, its not the best and worst years to be born... LakeVermilion Jan 2024 #5

Your primary benefits filing age doesn't affect the calculus here Shermann Jan 2024 #12

Born January 1. You've got me curious KPN Jan 2024 #20

I guess we're going there Shermann Jan 2024 #23

Lol. Thanks! Not sure whether that's a benefit or cost. I was curious mostly because in my younger years, KPN Jan 2024 #42

It is sort of a scale from 0 to 15 with zero being the best and 15 being the worst Shermann Jan 2024 #44

So 1960 was a bonanza? wolfie001 Jan 2024 #7

1960/1962 are only half as bad as 1961 Shermann Jan 2024 #10

C'est la vie..... nt wolfie001 Jan 2024 #47

Social Security & Medicare The Butler Jan 2024 #8

Raises hand LittleGirl Jan 2024 #9

Penalty isn't the right word Shermann Jan 2024 #30

That's a good term LittleGirl Jan 2024 #46

I'm waiting until 70. The highest you can get. jimfields33 Jan 2024 #11

For that reason my wife wants me to keep working until 70 Martin Eden Jan 2024 #14

We're one month apart in age Auggie Jan 2024 #21

Good luck to you as well, fellow Boomer! Martin Eden Jan 2024 #36

I totally get that. Enjoy. jimfields33 Jan 2024 #53

The retirement simulators tend to support your strategy Shermann Jan 2024 #15

Most people don't realize how long they actually will live. PoindexterOglethorpe Jan 2024 #58

Yes and every year you live extends your life expectancy Shermann Jan 2024 #60

It depends on what year you are looking at. PoindexterOglethorpe Jan 2024 #62

Right and if and when you make it to 76, it extends to 12.29 years instead of 11.97 Shermann Jan 2024 #63

There was also a phase in period Joe Nation Jan 2024 #16

Joe I'm the same age and plan to do the same thing. Good luck to you chicoescuela Jan 2024 #27

My wife was born in 1961 Joe Nation Jan 2024 #35

I was born in 1948, PoindexterOglethorpe Jan 2024 #17

My situation is almost exactly the same as yours. llmart Jan 2024 #28

Good for you. PoindexterOglethorpe Jan 2024 #59

I was born in 1952 DFW Jan 2024 #26

I, too, was born in '52. My social security was reduced by the amount I receive from Japan for the national pension Martin68 Jan 2024 #33

I'll bet!! DFW Jan 2024 #39

I was born in 1950 calguy Jan 2024 #31

High on the hog? LOL! Martin68 Jan 2024 #34

Uh oh, I was born in 1961.... FM123 Jan 2024 #38

On a sorta kinda positive note, you can't really lose money that you never had! nt Shermann Jan 2024 #45

You're right about that! FM123 Jan 2024 #49

Wait... Think. Again. Jan 2024 #54

For the last 49 years, it has come out of mine, anyway! DFW Jan 2024 #57

The Social Security benefits formula is what it is Shermann Jan 2024 #61

Happy 75th birthday to 49'ers. usonian Jan 2024 #43

Recently retired and started my SS Beachnutt Jan 2024 #51

είναι ελληνικό για μένα Goonch Jan 2024 #52

I'm glad that so many are playing the numbers game w/ their SS benefits, it's a good thing to know what one is SWBTATTReg Jan 2024 #55

Great point! Joe Nation Jan 2024 #56