This is my Social Security income from the time I started working in 1968 to the time that I retired in May 2004.
They do not count all of your yearly income since I do not see the $100,000 year from Disney in 1985 and 86, but then a big year in 1994, so they must just report some percentage of your yearly income.
But I find it fascinating that my entire history of employment can be seen on one page!
When should you take Social Security! The average mortality for a male in America is 73, so lets get into the numberrs!Let's say you get $1500 a month at 63, but if you waited until 70 years old to start collecting, you would get $1000 more a month for a total monthly payment of $2,500. But if you waited until 70, you would have missed out on collecting $144,000 over those 7 years.So at the increased amount, how long would it take to get to any benefit over the $1,500?Divide $1,000 by $144,000, then divide that by 12 months. $144,000 divided by $1,000 is 144, then divide that by 12, and that is how many years it would take for you to get any increased benefits, or until you are 83 to get your first $ of increased benefit.So if the average mortality for men is 73, you can see why the government would encourage retires to wait until 70, hoping that most die before or soon after reaching that age! So the problem of Social Security running out of money would be SOLVED!
