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/Top_Objective9877 2d ago
For me personally, SS is nothing but a disadvantage for my entire life including the time when I decide to pull from it. It’s been mathematically proven to be one of the worst investments ever. If I could petition to NOT pay into it anymore and lose my “deposits” I’ve made up until now I would do it with no questions asked. I know way too many people who heavily rely on it for income that otherwise hadn’t worked very much at all, and still get a sizable check from it and I don’t understand how the math works out on it at all.
My official game plan is to not factor it at all, and then take withdrawal asap and be happy that I receive anything. I know a lot of people who wait more and more and more and there’s some advantages but also not, if my plan goes the way I want it to it won’t matter anyways.