What percent of your annual spending comes from Social Security?

For someone mid 50s looking to retire in the a year or three I like to check how much SS will cover so I plug in earning 0 dollars going forward and see where we stand, it's a good mile marker.

As it stands today if both of us are still alive and collecting SS it would cover a good chunk if not all our basic needs plus a couple of simple wants. With that said I said I see spending about double our SS amount in the early years.
 
In 2017, Soc Sec was ~80% of my parent's monthly income ($2,155). They each had their own work history, although Dad was the primary wage earner. Their combined social security checks, minus their Medicare premiums, were enough for them to live on. Dad also had a very modest pension, which provided a small cushion. Social Security provided them with a secure, if frugal retirement for 30 years. They barely touched their modest savings during that time. Dad retired at 65.
 
This is our first year with my SS and DW getting 50%...

We could exist on our benefits, but choose to spend twice as much.
 
None for 13 years. Since I claimed in May so SS covers 47% of our spending in 2024 but...DW hasn't started yet, and I am still doing large Roth conversions, so spending will decline considerably (lower taxes) when that ends.
 
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usually about 25%, but we have upped our gifting and it is now about 40-50%
 
In 2025, DW's SS will cover about 19% of total budget. in 2032 when I start at FRA, will cover about 63% of total budget. We will see how that pans out!

Flieger
 
Once DW starts her SS next month, our combined SS will cover around 60% of our "normal" expenses. The rest comes from investments.
 
Haven't started SS yet, but predicted to cover 56% of spending.
 
I took SS four months before FRA. It covers 70% of my 'essential' expenses, and about 50% of actual expenses. I'm more or less following the 4% rule for withdrawing from my investments, tho planning to exceed 4% to be able to do an extra trip (YOLOing).
 
Our SS income is about 38% of our total NET income (after taxes). The rest is pension income and pension income covers 100% of our expenses, so we bank the SS component of our income or gift it each year.
We have yet to take any draws from our IRA accounts.
 
I start SS next year. For 2025, SS for 2 of us will be 36% of income, and 25% of spending.
 
DH started at age 62. His SS is about 20% of our annual spend. I was the higher earner. Current plan is to wait till I hit 70. If I do that the combined SS will cover about 60% of our annual spending.

But since things can change... I might start at age 65 when I start Medicare for the hold harmless on Medicare premium increases... or FRA or ... I have not set my start date in stone.
 
DGF just started early SS this year when she turned 65, her FRA is 66 yrs 10 mos. I've been on SS three years this month taking it at 68.5 years with an FRA of 66 yrs. SS accounts for 83% of our normal spending which is heavily burdened with travel expenses.

Now that DGF will no longer have to play ACA income games after this year, all bets are off for spending. Our withdrawal rate this year was 0.4% all due to DGF's withdrawals prior to starting SS.
 
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We took SS at FRA. It covers about 75% of our non-income tax spending. Income tax would be near zero without Roth conversions.
 
Neither of us have started ss yet. I've been retired 10 1/2 years, DW 7 years. Next year DW turns 70. I'll be 66 1/2. If we both start then ss will be 150%-180% of our annual spend. If she starts and I wait till 70 it will be 160-200% of annual spend. Looks like we're way behind on our BTD.:facepalm:
 
Currently about 20%. One I start SS in 2 years 100% (covers all expenses without travels)
 
Starting SS in a few months, age 67.
SWR will go to approx 1%.
IMO, resulting SWR should be the focus -not your percent of spending from SS.
 
This is a tricky question.
My SS, taken at 70, is around 28% of my gross income, but I don't come close to spending all my retirement income. Much of it goes into my taxable investment account each month.

Plus I don't track my spending. What I do some years is total up all the deposits made to my taxable account for the year and subtract that sum from my gross income for the year to compute how much I must have spent for the year...
 
Our SS is about 35% of our income.
 
Today Social Security is 0% of our spending (age 60).

When 62 (in 14 months), Social Security would be 19% of our current spending.

The plan is to up our spending and blow it though.........but realistically, we will probably increase spending some and increase investing some......Our plan is to take it as soon as we can and run.
 
DW's SS represents about 7% of our income and spending.

When I choose to take my SS, our total SS will be 38-42% of our income.
 
My small SS benefit is about 15% of our income. But we don't spend it. We are still able to live below the amount of DH's pension so my SS is saved.

Even with lots of inflation DH's pension is still covering the expenses. Some months it cuts it very close!
 
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