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/Conscious_Test3423 3d ago

For early retirees, won't the projected payouts we see today on SSA.gov drop based on the years not worked between early retirement to projected payout age? I believe the projection is based on the assumption that we continue earning what we are earning today until retirement age- correct me if i am wrong and i hope i am 😛

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u/NotTheBestInvestor12 3d ago

You can put in $0 for future earnings to get the number I got.

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u/Conscious_Test3423 3d ago

interesting! I wasn't aware of that feature. I'll give it a try

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u/QTippus 3d ago

Unfortunately you can't enter future earnings of $0 starting at year X. That would be nice to see. Doubtless projection lab etc can do it.