Wrong. The maximum social security benefit will come from 35 years of earning the salary cap (that is taxed). The cap, or “benefit base” in SSA lingo, is $142,800 for 2021, well below $200K. Income in excess of the cap is not taxed and does not increase your SS benefit. The cap was $48,000 is 1989. Here is a table of the cap:
Contribution and Benefit Base
Quote:
Originally Posted by OrangeBlossomBaby
According to the AARP calculator, someone my age, never married (because I didn't want the calculator to count anyone else's income in this experiment), who earns $100,000, can expect approximately $2848/month when they reach full retirement age.
In order to reach that $3148/month (maximum you can possibly get at full retirement age, from your own earnings) you would need to have worked for more than 30 years at over $100,000 per year. In fact, you'd need to have earned more than $200,000 per year.
But $200,000 per year is more than $100,000 per year, and I said it had to be more than $100,000 per year.
So - yup.
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