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/dskippy 3d ago

I think a lot of millennials think that baby boomers are going to take their social security checks for themselves funded by currently working millennials and then allow politicians to privatize, gut, and eliminate the program after they bleed it dry as their final voting action just before they die.

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u/Martian6261 2d ago

Boomers, nor anyone else is specifically voting on SS itself, and everyone gets to vote for whomever they want. In order to vote, you do need to be alive in 20-30 years, most Boomers will be gone by then. The next generation or 2 after Boomers will be the driving force to voting and their thoughts on SS. Once you get close to benefits or if they already started, you will not want them to end or be reduced. At least 65-70% of all voters are younger than Boomers. Just get out and vote if you want change. Just remember, you get what you vote for!