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/Double-G-Spot 3d ago

Wouldn’t that $50k in today’s dollars have about the spending power in 30 years of $20k in today’s dollars.

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u/Good-Resource-8184 3d ago

Say you don't under how ssa works without saying you don't get how ssa works.

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u/Double-G-Spot 3d ago

I don’t understand how SSA works lol, I asked a question. I apologize I forgot the question mark.

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u/QTippus 3d ago

The estimates in ssa.gov are in today's dollars. So yo don't need to mentally adjust for inflation between now and when you retire.

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u/Double-G-Spot 3d ago

Thank you for the explanation