So if I retire early, ie don't have 35 years in, I understand the SS office will use Zero for those years I didn't put into the system.
What I wasnt exactly sure of.. is if I log into SS and it shows my "benefit" .. is that actually my benefit.. ie so it would never go down right? (well minus anything congress does to muck with it). I assume it already has zero's factored in so it could only go up...just want to be sure as it seems like a lot for only 20 some years of putting into the system.
ie it says there was $200K put into the system for me (myself+employer) and I would get $2700/month out at age 67. I know I'm 20 years away from retirement but I don't understand how $200K could generate $2700/month lifetime benefits...which is why I am thinking maybe there is something wrong with what its showing.
What I wasnt exactly sure of.. is if I log into SS and it shows my "benefit" .. is that actually my benefit.. ie so it would never go down right? (well minus anything congress does to muck with it). I assume it already has zero's factored in so it could only go up...just want to be sure as it seems like a lot for only 20 some years of putting into the system.
ie it says there was $200K put into the system for me (myself+employer) and I would get $2700/month out at age 67. I know I'm 20 years away from retirement but I don't understand how $200K could generate $2700/month lifetime benefits...which is why I am thinking maybe there is something wrong with what its showing.