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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75376  
Subject: Re: Retirement savings benchmark Date: 1/22/2013 9:15 AM
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In my own case, I can figure 33,480/year SS.

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.

Unless, perhaps, you are planning to wait until age 70 to get a higher payout, but then you should also take into account all the years that your payout was $0, so your *average* payout would be much lower.

Also, "Social Security benefits are much more modest than many people realize. In June 2012, the average Social Security retirement benefit was $1,234 a month, or about $14,800 a year".
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