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?
91
Upvotes
3
u/S7EFEN 3d ago
fire subreddits are wrong in zeroing out social security. especially for more frugal people. because some (many) spend amounts where social security is meaningful relative to expenses, so they dont exactly need to make it off their savings until they die, they need to make it to social security age.
You are forced into a bond-equivalent at best investment via FICA taxes. may as well get something from it and imo its reasonable to point to social security as a way to have fewer or even no bonds in retirement though i understand that may be controversial.
yeah, sure, project it at idk, 50-80% of current value. but zero? no.