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Re: Retire Early, Get More SS
Old 04-30-2005, 08:38 AM   #21
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Re: Retire Early, Get More SS

Be careful about assuming that early retirement will reduce your overall earnings and will be to your benefit from a SS calculation perspective. That is probably not true for anyone.

All SS calculations use 35 years of earnings ($0 for any years with no earnings). Oversimplifying somewhat, all that is being proposed is a different way of adjusting your earliest annual earnings. Currently wage index factors are being used and the proposal is to use inflation index factors, or a blend of the two. The difference between the factors for your most recent earnings are miniscule. The biggest hit is on your earliest earnings. So -- working 1 more year is most certainly to your advantage if you don't yet have 35 years of SS earnings and will most definitely not reduce what you would have otherwise received.

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Re: Retire Early, Get More SS
Old 05-01-2005, 03:16 PM   #22
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Re: Retire Early, Get More SS

oldbykur - glad you are here with the specific skinny on SS.*

Just for Info - The administration's approaches have been worked out for many years by the Cato Institute near DC.* The latest stuff out is based on Robert Pozen's thinking which you can find detailed at CBSMarketWatch* - click the line below

Glad the ERForum is back up - Many thanks to Dory36 and BigMoneyJim I understand!


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