Post #339 by intercst on the Retirement Investing board

Personal Finance Topics / Retirement Investing

Unthreaded | Threaded | Whole Thread (9)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 4

One thing that I found interesting was how Social Security wildly favors high income early retirees.

If you're a wage & salary earner paying maximum FICA from an early age (say your mid to late 20's), the sweet spot is to retire just before you'd hit the second bend point for the AIME calculation (a retirement at about age 45 or so.) There you'd get 77% of the maximum SS monthly benefit while only paying about half the lifetime FICA taxes.

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

Just more evidence for my long held thesis that working for wage & salary income, while often necessary, is just about the dumbest thing you can do financially and tax-wise.

intercst

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (9)

Prev | Next

Announcements

Retirement Investing FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.