JAXFL wrote:
pulsar wrote:
examples of the maximums in 2014:
retirement age maximum
62 $1992
66* $2642
70 $3425
I must not make much... as my numbers are way off of the MAX Amounts.
At full retirement age (66): $1,874 a month
At age 70: $2,612 a month
At your current age (65): $1,775 a month
Your estimates are based on the assumption that you will earn $67,076 a year from now until retirement.
I guess you really have to make a lot of money to get to the max. I started working and paying in at age 15.... 50 years ago and over the last 20 have made $60K+ annually.
Only the 35 years in which you earned the most is used. Currently, $117,000 is maximum amount of earnings subject to social security tax. (There is no limit on the Medicare tax.)
Tom
