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URL:  http://boards.fool.com/culcha-writes-how-do-you-figure-that-amount-30499571.aspx

Subject:  Re: Retirement savings benchmark Date:  1/22/2013  3:01 PM
Author:  intercst Number:  71296 of 75538

culcha writes,

How do you figure that amount? That's $2790/mo. But SSA says "a worker retiring at age 66 in 2012, the [maximum] amount is $2,513." To get that amount, you'd have had to hit the SS max income virtually every year of your working life.

I'm planning on retiring when I hit 70. (Not there yet, but somehow I get closer and closer without even trying). The last letter I got from the SSA says the benefit would be $2790 a month, so that's what I'm figuring on. (Seems high to me though -- I'm NOT a high earner!)

</snip>


For 2013, the maximum Social Security benefit at age 70 for a worker who paid max FICA since age 22 is $3,350/month.

http://www.ssa.gov/oact/cola/examplemax.html

intercst
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