Originally Posted by ejman
There seems to be very little additional SS benefit to continue working past the early-mid 50's if one had the good fortune to earn enough to pay in the maximum allowed. I did this thru 2002 when I ER'd at 52. Looking at my statement from 2003 it actually shows a lower anticipated SS payment at 62 than my current statement which has zeros for income since 2003 (The 2003 statement assumed I would continue working at my then salary). There has been little inflation since 2003. It would appear that by design SS is encouraging Early Retirement - why is that?
it is not that SS "by design" is encourging ER but rather it is not rewarding high incomes. SS was set up as a safety net not a retirement plan. it highly favors low income people (just look at the formula). also, when you take the average wage of the top 35 years there isnt as big a consequence to missing a few of them (as i pointed out in an earlier post) which as you noticed, does support ER.