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Author: culcha Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75378  
Subject: Re: Retirement savings benchmark Date: 1/22/2013 7:35 AM
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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?

culcha
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