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Old 05-24-2020, 08:02 AM   #61
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This is still a great tool to understand the levers on SS. The Reformer: An Interactive Tool to Fix Social Security

It does not reflect the Great Repression hit to the trust fund so your solution will need to be even more aggressive.
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Old 05-24-2020, 09:33 AM   #62
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This thread reminds me of why I decided to take SS at 62 7 years ago.
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Old 05-25-2020, 07:06 AM   #63
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Quote:
Originally Posted by Bongleur View Post
...impacts similar to the Great Recession would accelerate the depletion date of the OASI trust fund reserves from 2034 (projected in this year’s trustees’ report) to 2029... triggering a cut of 31% in retirement benefits
I plugged these new numbers into my model this morning (instead of depletion in 2034, with a 23% cut), and I go from both DW and I doing SS at 70, to me doing FRA and her doing 70. So, this actually would change the strategy, for us.
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Old 05-25-2020, 07:17 AM   #64
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Originally Posted by camfused View Post
I plugged these new numbers into my model this morning (instead of depletion in 2034, with a 23% cut), and I go from both DW and I doing SS at 70, to me doing FRA and her doing 70. So, this actually would change the strategy, for us.
Good thought on revisiting models. I plugged 31%/2029 into Open Social Security and its model moved DW's smaller SS up from age 65 to 62, and left mine at 70. 62/70 is what we're planning anyway.

It really slams the NPV of the benefit too.

https://opensocialsecurity.com/
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