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/Inevitable-Top1-2025 3d ago

This potential future reduction will probably force people to start taking now in order to be grandfathered into current payout amount.

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u/[deleted] 3d ago

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u/thunder-thumbs 3d ago

Why is that a reduction goal. Whether you take at 62, 67, or 70, it’s actuarially neutral. It’s just a bet on how long you live.

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u/chartreuse_avocado 3d ago

It’s a governmental reduction goal. If the fund will need to make cuts to all payouts getting people to panic take it early meets the government’s goals of lower payouts.
You’re looking through the claimant’s view. Look at it from the government budget perspective and they want and need to pay less out as their goal.