Quote:
Originally Posted by milt
based entirely on your earnings record. max is now about 2300/mo., but you would have had to pay SS on a large income for all your working years. for example, in 2009 you need to make $106,800 and pay SS on that amount. don't factor in your business deductions, or make more money until your adjusted gross is 106K.
most that I know are drawing a lot less. more like 500 to 1200.
|
and that Max amount is based on your filing for SS at full retirement age (66+ depending on when you were born). Start drawing at 62 and you take a significant hit.