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Social Security & Medicare
In reply to the discussion: Social Security: The Best and Worst Years To Be Born [View all]
Shermann
(8,854 posts)48. That's that basis value that I referred to in post 19
It's dubious that it doesn't adjust for inflation. For retirement planning purposes, it creates a moving target. One tool used to stay below that is Roth accounts. But if there is a lot of inflation between now and your retirement date, it might be futile. So, unless ALL of your retirement funds are in Roth accounts, you might be sort of hosed. $25K doesn't go very far these days.
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Sounds about right, I was born in 1949 and I'm very happy with my Social Security
Walleye
Jan 2024
#1
"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
IIRC, SS benefits were not taxed until St. Ronnie Raygun went on his mission to destroy the middle class.
OMGWTF
Jan 2024
#25
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
Right and if and when you make it to 76, it extends to 12.29 years instead of 11.97
Shermann
Jan 2024
#63
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
On a sorta kinda positive note, you can't really lose money that you never had! nt
Shermann
Jan 2024
#45