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URL:  https://boards.fool.com/psuengineer-quotwhile-it-does-look-like-high-32160370.aspx

Subject:  Re: Attitude Question - SS Date:  3/15/2016  12:46 PM
Author:  JAFO31 Number:  79337 of 97361

PSUEngineer: "While it does look like high income earners are getting whacked, it certainly doesn't feel that way."

I suspect that varies from person to person and possibly even dramatically.

"The lowest earners probably need that 80% of their pre-retirement savings because they either didn't save anything for retirement or didn't have any excess funds to invest."

Agreed. And I write as I did to challenge Hawkin's belief that he "fully expect to profit from SS" not necessarily to suggest broad changes to the SS system.


"While 27 percent of pre-retirement earnings look low for those at the maximum taxable wage base, it may represent a good portion of their post-retirement income needs."

That really depends upon living expenses more than anything else. $118.5k is the maximum taxable wage base; 27% is almost 32k (and from other notes, $31,668 is the annual maximum amount for a newly retired, FRA, person.

"Personally, SS will cover most of my income needs with only small withdrawals from my retirement accounts. I'll be living far below my pre-retirement income."

70% below (IOW, on 30%) your pre-retirement income?

I am estimating more like 50%, and even then it will likely requiring moving to a lower real estate tax area (with lower land prices) and finding ways to address insurance costs.

Regards, JAFO
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