New to Forum - Dreaming of Retirement

[eastnortheast]

The fidelity calculator is here:
https://www.fidelity.com/calculators-tools/planning-guidance-center

You might have to create a logon - but I don't believe you need to have an account there. It's a good calculator - lets you get into the weeds on some expenses inflating more than others (healthcare!!!! - and in my family's case College!!!!)

Unfortunately, it appears you need to have an account with Fidelity. I do not have an account with Fidelity, and tried to register to allow access to the calculator, but was unable to do so.

 

[Accidental Retiree]

In other posts, it appears your wife has a public sector pension, so you'll need to check and see to what extent WEP may reduce her social security benefit.

 

[mountainsoft]

In other posts, it appears your wife has a public sector pension, so you'll need to check and see to what extent WEP may reduce her social security benefit.

What is "WEP" and how would I know if it applies to our pension and/or social security?

 

[Accidental Retiree]

What is "WEP" and how would I know if it applies to our pension and/or social security?

Go to the Social Security website and search for WEP--Windfall Elimination Provision. Reading that information would be a good start.

 

[mountainsoft]

Go to the Social Security website and search for WEP--Windfall Elimination Provision. Reading that information would be a good start.

My wife's employer DOES withhold Social Security taxes.

Does that mean the WEP would not apply in our case?

 

[Accidental Retiree]

My wife's employer DOES withhold Social Security taxes.

Does that mean the WEP would not apply in our case?

If she has 30 years of "substantial earnings" paid in, then you ought to be OK.

The SS site has a chart detailing for each year just what those earnings comprise.