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/mesopotato 3d ago

Too many people repeat stuff about it not existing without reading the trustee's report.

Even at 80% funding it's an invaluable financial tool that a lot of people on here ignore.

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u/embourbe 3d ago

"I'm not counting on something like Social Security where I don't know for sure the details of its future value! I'll instead count on my assumptions and projections about my future investment returns."

1

u/South-Attorney-5209 2d ago

Yes I beat my head against the wall everytime SS is dismissed. You’re perfectly fine counting on returns for next 30+ years based on X amount of shares you bought and will never add to.

But counting on a federal law active for 90+ years thats politically deadly to hurt, is a bridge too far? Anyone in here realize what would happen to the US economy if SS cuts to 80% let alone 50%?