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I am 48 and still working. I expect my SS benefits to be about one-third of my retirement income. The other two-thirds will be withdrawals from my own savings/investments. I have no pension.
Not currently drawing SS, so didn't answer the poll.
I'm still working and will be for a while. My husband is already retired and drawing pensions. If he takes his SS at FRA in three years, the SS will make up approx. 25-30% of his retirement income.
i think an interesting addition would be the range of ss payments you get .
Quote:
Originally Posted by saralvr
Also interested in where the remainder will come from? Pensions or investments alone.
I agree with both of you, but that would make for a very long and complex poll. I don't know the maximum number of options allowed in these polls, or if it's possible to set up a "three-in-one" poll (I rather doubt it). It seems to me that as a practical matter, separate polls would be required.
Even then, careful thought is needed. Let's take how much SS people get. The poll would want to distinguish between amounts received from one earner's record only, or from two earners' records. Or at the least, the poll should reflect whether the total SS amount being received is for a person living alone or for a married couple. So in the latter case, there would be, say, five options with ranges of SS amounts if it's for a person living alone, and five more options with the same ranges of amounts for married couples. That would require ten options being allowed for polls, and I would guess at least that many are probably allowed.
My prior experience with posting polls has been that there is always something I didn't think of ahead of time!
If all goes as planned it will be roughly 12% of our income in about four more years. I'm trying early retirement again for the second time. That only lasted about a month the first time I tried. I quit my job last Friday. If I go back to work in a couple of months then SS will be slightly more of our income as I will wait until around 65 to collect vs 62. I don't know maybe three will be the charm. I'm already thinking about where to apply.
I am at 36% right now, but the AZ state Retirement system is extremely well funded and in the next few years, hopefully, we will see some increase in pensions. They have provided none for many years but have recently stated this may happen.
I also am holding on to an amount of cash that will go into an annuity next June which should decrease my percent to 31.
I voted before I saw the don't vote if you are not already collecting. However Husband will be retiring,[I have basically never worked] next year and we will start collecting in Jan 2016.
Once he stops work we will be living almost 100% on Social security. A huge drop from his high 6 figure salary currently.
Going to be a major shock, and we are both ill to boot.
I voted before I saw the don't vote if you are not already collecting. However Husband will be retiring,[I have basically never worked] next year and we will start collecting in Jan 2016.
Once he stops work we will be living almost 100% on Social security. A huge drop from his high 6 figure salary currently.
Going to be a major shock, and we are both ill to boot.
But as they say it is what it is!
I am certainly not upset that you voted anyway - it is just not a big deal. My intention was to sample people's current situation as opposed to an anticipated situation, as the latter can change unexpectedly because of job loss, illness, or simply deciding to work longer than planned.
Once I retire my income will be about 50% pension, 25% SS, and 25% investments collecting at age 62. For my brother who recently retired at age 62, SS is more than 50% of his income. For my elderly mom, SS is 75% of income (but my dad worked past age 70).
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