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View Poll Results: Household Single or Combined Monthly USA SS Only Income @70 (No External Pensions)
<$1000 Per Month 6 2.54%
$1001, to $2000 Per Month 6 2.54%
$2001 to $3000 Per Month 15 6.36%
$3001 to $4000 Per Month 50 21.19%
$4001 to $5000 Per Month 51 21.61%
$5001 - $6000 Per Month 66 27.97%
>$6001 Per Month 42 17.80%
Voters: 236. You may not vote on this poll

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SS @ 70 Poll, How much will U & UR SO Get, Please SS @ 70 Only, No External Pensions
Old 11-17-2021, 06:49 AM   #1
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SS @ 70 Poll, How much will U & UR SO Get, Please SS @ 70 Only, No External Pensions

The Living on Social Security Thread made me think this may be interesting as a Poll to see what folks here are or will be getting. Just the recipient and their DW, or Significant Other, so total Household SS MONTHLY Income when one or both of you reach 70. If one or both took SS Early, what would they both be when you are 70 (Same as now, basically). Or if you are on your own just you.

If you are 70 already what is your (or your combined) current number? If not and you plan to take at 70, what WILL your number be?

Please do not include any other pension that is NOT USA SS. If you are not eligible for USA SS please do not participate in the poll, but feel free to comment accordingly, same if you get an External Pension + SS. If you number includes Yours and Your SO's please clarify.

Just curious what folks household SS total SS income is, or is going to be at 70. Current estimated numbers are fine.

In our Case Our total will be ~ $4760 Month when I am 70 in 2 years time. DW is 1160 and I will get ~$3600 per month.
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Old 11-17-2021, 07:19 AM   #2
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You may not have a high enough upper limit. Mine, for example is $6800, and there may be some folks here with higher amounts than that.
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Old 11-17-2021, 07:28 AM   #3
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Is that before or after Medicare deductions? (count IRMMA too?) In our case that would be ~$1000 mo difference.
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Old 11-17-2021, 07:30 AM   #4
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Quote:
Originally Posted by ShokWaveRider View Post


In our Case Our total will be ~ $4760 Month when I am 70 in 2 years time. DW is 1160 and I will get ~$3600 per month.
What does this statement mean?
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Old 11-17-2021, 07:34 AM   #5
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What does this statement mean?
Exactly as it reads, I do not take SS yet but when I do it will be $$$, DW took hers at 62 per OpenSS and that is what she gets.
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Old 11-17-2021, 07:36 AM   #6
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Is that before or after Medicare deductions? (count IRMMA too?) In our case that would be ~$1000 mo difference.
Total before Medicare, including any WEP. Before Taxes.
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Old 11-17-2021, 07:46 AM   #7
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The plan is:
DW takes her's at FRA (in ~ 2 yrs). Estimated at $998/mo.
I take it at 70 (in ~ 6 yrs). Estimated at $4,060/mo
DW claims spousal after I claim at 70. Estimated from my FRA/2 is $1572/mo.

So, total is $5632/mo.

Data from March, 2021 SSA statement.
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Old 11-17-2021, 08:53 AM   #8
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I'm uncertain of the utility of this poll, but I'll play along. I already started mine at 62, but I put what it would have been if I waited until 70.
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Old 11-17-2021, 08:58 AM   #9
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I'm uncertain of the utility of this poll, but I'll play along. I already started mine at 62, but I put what it would have been if I waited until 70.
That was not the intent as explained in the first post. If you claimed at 62, what you get today is what you will get at 70. Give or take the increases.
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Old 11-17-2021, 09:22 AM   #10
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I voted our expected gross SS benefits. I included the already announced 2022 COLA, but not any estimated COLAs after that. The amount is before any Medicare and tax W/H deductions.
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Old 11-17-2021, 09:24 AM   #11
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Originally Posted by ShokWaveRider View Post
That was not the intent as explained in the first post. If you claimed at 62, what you get today is what you will get at 70. Give or take the increases.
I'm glad you cleared that up; it was not obvious to me. So at least one of the $3-4K votes should be in the $2-3k range instead. And just barely that. I currently get $2161 per month, and there will be none for the young wife due to the GPO.
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Old 11-17-2021, 09:27 AM   #12
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Quote:
Originally Posted by Gumby View Post
I'm uncertain of the utility of this poll, but I'll play along. I already started mine at 62, but I put what it would have been if I waited until 70.
Quote:
Originally Posted by ShokWaveRider View Post
That was not the intent as explained in the first post. If you claimed at 62, what you get today is what you will get at 70. Give or take the increases.
When I read the OP I understood it the same as Gumby
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Old 11-17-2021, 09:31 AM   #13
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DW is a former gov't employee. Not only does she get no SS, but GPO means there's no point in her claiming spousal benefits from me. This skews our results some.
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SS Max Monthly Benefit
Old 11-17-2021, 09:48 AM   #14
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SS Max Monthly Benefit

I’m having trouble understanding some of the estimates/expectations being offered in these replies.
Here is the current max monthly benefit for 2021.
Of course, there will be annual adjustment for the coming years, but nevertheless, there is a max benefit.

From AARP/SocSec:
“The most an individual who files a claim for Social Security retirement benefits in 2021 can receive per month is:

$3,895 for someone who files at age 70.
$3,148 for someone who files at full retirement age (currently 66 and 2 months).
$2,324 for someone who files at 62.
(For context, the estimated average Social Security retirement benefit in 2021 is $1,543 a month. The average disability benefit is $1,277.)

Who is eligible for the maximum benefit? People whose earnings equaled or exceeded Social Security’s maximum taxable income — the amount of your earnings on which you pay Social Security taxes — for at least 35 years of their working lives. The maximum taxable income in 2021 is $142,800. The figure is adjusted annually based on changes in national wage levels, and thus the maximum benefit changes each year.”
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Old 11-17-2021, 09:53 AM   #15
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Quote:
Originally Posted by starry night View Post
I’m having trouble understanding some of the estimates/expectations being offered in these replies.
Here is the current max monthly benefit for 2021.
Of course, there will be annual adjustment for the coming years, but nevertheless, there is a max benefit.

From AARP/SocSec:
“The most an individual who files a claim for Social Security retirement benefits in 2021 can receive per month is:

$3,895 for someone who files at age 70.
$3,148 for someone who files at full retirement age (currently 66 and 2 months).
$2,324 for someone who files at 62.
(For context, the estimated average Social Security retirement benefit in 2021 is $1,543 a month. The average disability benefit is $1,277.)

Who is eligible for the maximum benefit? People whose earnings equaled or exceeded Social Security’s maximum taxable income — the amount of your earnings on which you pay Social Security taxes — for at least 35 years of their working lives. The maximum taxable income in 2021 is $142,800. The figure is adjusted annually based on changes in national wage levels, and thus the maximum benefit changes each year.”
I believe the initial question was single or couple. So a couple both maxing out at 70 would get $7790 per month, wouldn't they?
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Old 11-17-2021, 10:24 AM   #16
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Quote:
Originally Posted by starry night View Post
I’m having trouble understanding some of the estimates/expectations being offered in these replies.

From AARP/SocSec:
“The most an individual who files a claim for Social Security retirement benefits in 2021 can receive per month is:

$3,895 for someone who files at age 70.”
My March 11, 2021 Social Security Statement says:

Quote:
*Retirement
You have earned enough credits to qualify for benefits. At your current earnings rate, if you continue working until...
your full retirement age (66 and 6 months), your payment would be about......... $3,145 a month
age 70, your payment would be about............................................. .............. $4,060 a month
I don't understand why my age 70 benefit per SSA is > $3,895. I have 38 years > than the SS cap.
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Old 11-17-2021, 11:05 AM   #17
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@ShokWaveRider, do you want nominal or real? I'm 52 and my age 70 amount nominal and real differ by a couple of categories in your poll.

As a single person, I really doubt the utility of this poll, but will play along if the question above is answered.
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Old 11-17-2021, 11:25 AM   #18
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You may not have a high enough upper limit. Mine, for example is $6800, and there may be some folks here with higher amounts than that.
True, DH and I are age 70 and we are currently getting over $6000 per month.
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Old 11-17-2021, 11:26 AM   #19
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My March 11, 2021 Social Security Statement says:



I don't understand why my age 70 benefit per SSA is > $3,895. I have 38 years > than the SS cap.
I agree. My age 70 benefit projection from SSA is also over $4,000/month, with all or almost all years earnings over the SS cap.
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Old 11-17-2021, 11:28 AM   #20
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DH and I both claimed at 62
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