No. of Recommendations: 3
StockGoddess writes,

Firned of mine explained this to me how she decided not to take a job overseas - one of her reasons was how those "zeros" would affect her SS in the long run.

That's odd. Most overseas posts come with a salary increase far in excess of a zero on your SS earnings record. Here's an analysis of how much you'll lose by retiring early and having "zeros" in your record.

http://retireearlyhomepage.com/soc_security.html

For example, for someone paying the maximum FICA for his whole career. Retiring with 35 years of earnings gives him a benefit of $1,964/month. If he retires 5 years earlier and had 5 zeros in his earnings record, it only reduced the benefit to $1,888. That's a $76 month reduction for 5 years worth of zeros. A 60-year-old could buy an inflation-adjusted annuity with a $76/month benefit for about $24,000.

intercst
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement