The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Retirement savings benchmark Date:  1/22/2013  7:35 AM
Author:  culcha Number:  71291 of 81362

If you earn $50K per year, that's $4167/mo gross pay. 70% is 2916/mo. Social Security reduces that by abt $1200/mo. Net is 1717/mo. That is 41% of gross.

Not sure I understand what this means... In my own case, I can figure 33,480/year SS. And I also figure about $33,000 pension. But, in planning, I've always just added the two together -- but is it correct that SS actually reduces the pension?

Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us