Do you count on social security in your own coast FI calculations? Everything I’ve read says it will be dried up by the time I’m 65. Since I’m a high earner, it would be a big payout if I got it and therefore a big difference in my coast FI calls if I could go slow earlier. Thoughts?
Hey Jenn—I do like to use SS in my calculations. I know there's a lot of uncertainty around SS over the long run, but long story short, it's one of the most popular social programs in the US and it's very unlikely it would "dry up" because of the political impact that would have. What's more likely is we will see continued modifications over time like SS tax increases, increase in SS wage base, and possibly reduced benefits as well, though I would expect that would be a last resort.
IMO, leaving SS off of your calculation would be overly conservative. Hope that helps!
Do you count on social security in your own coast FI calculations? Everything I’ve read says it will be dried up by the time I’m 65. Since I’m a high earner, it would be a big payout if I got it and therefore a big difference in my coast FI calls if I could go slow earlier. Thoughts?
Hey Jenn—I do like to use SS in my calculations. I know there's a lot of uncertainty around SS over the long run, but long story short, it's one of the most popular social programs in the US and it's very unlikely it would "dry up" because of the political impact that would have. What's more likely is we will see continued modifications over time like SS tax increases, increase in SS wage base, and possibly reduced benefits as well, though I would expect that would be a last resort.
IMO, leaving SS off of your calculation would be overly conservative. Hope that helps!