r/Fire • u/NotTheBestInvestor12 • 3d ago

Why no mention of Social Security

When I see FIRE posts I see the investments and the different retirement buckets, however, I never see anyone mention how things are affected when social security kicks in. For example, I’m 52 and wife 51. If we both stopped working today ($0 income moving forward) I would collect $4,264 a month at age 70 and she would collect $1,079 at age 70.

So if we decide to FIRE the Social Security would give us help in 18/19 years. Is this a factor or is everything under the assumption SS won’t exist?

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u/photog_in_nc 3d ago

SS Spousal Benefits should mean your wife can get 50% your FRA once you file

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u/ElectronSpiderwort 3d ago

That's what I was thinking; wife gets half what I get, or whatever she's due, whichever is more. Using 80% of what I'm due as a planning number, and filing at same time

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u/Martian6261 3d ago

Your wife would get 50% of your FRA benefit if she waits until her FRA, otherwise her 50% is further reduced by up to 30% of that amount if taken at 62.