Social Security - yay or nay?

[lazygood4nothinbum]

retired & now 50 & 11/12ths, i plug both social security and pension (very well-funded plan with old mcfortune5 company) into firecalc to get a supposed swr. and then, based on that spending, when i look 15 years down the line on the investigation spreadsheet "showing a full retirement cycle," it looks like i won't need either.

so it's nice to be able to plug in and even nicer to know i might not need it.

[Spanky]

Quote:

Originally Posted by ARB57 Retirement begins on Tuesday. I've run all of the calculations based on NOT getting any social security. Obviously, adding it in provides a nice cushion. For someone like me (52 and single,) do you: A) count on nothing B) count on getting everything to which you're entitled (based on the current numbers) C) count on a reduced amount, say 50% D) other All of it, none of it, half of it or some other entirely different plan. The voting begins right now...and thanks.

A for now and wait for a few more years.

[mahoneycutt]

Age 45 and never include SS in my calculations.

I don't think SS will completely go away, but I'm pretty sure there will be "means testing" in our future (either that or the next generation might need be a little annoyed with us for the higher taxes they pay).

If SS exists at all when I turned 62, then that will be gravy.

Mike Honeycutt

[Cb]

Ages 47 & 48, and I use 80% of current projections, all subject to income tax. I thik that's being pretty conservative.

The last round SS fixes left those 55 & older nearly unscathed, and the AARP has only become stronger since then. We'll all be a few years older before the next SS fix, and again, I expect very little to fall on the shoulders of the retired or those near retirement.

Cb