Nov 14, 2024
9:28:13pm
9:28:13pm
To pay $750k into SS, that means you paid in for 36 years at the 12.4% max if self employed. Or you paid in at
the 6.2% rate for 73 years. And all of those years you made at least the threshold income (or more) for to hit that cap, which means at least $168,000 this year.
Give you said 61 years in the workforce, some of those would have to have been self employed if you made the max amount to pay in at. And if you made less than the max amount to pay in at, then more years self-employed.
That is a lot to pay in; but it also means you've made at least $5.5M (if self employed) or $11M (if not self employed) in today's dollars over that time. Likely somewhere in between given the amount and time you cited paying in.
Not shabby.
Give you said 61 years in the workforce, some of those would have to have been self employed if you made the max amount to pay in at. And if you made less than the max amount to pay in at, then more years self-employed.
That is a lot to pay in; but it also means you've made at least $5.5M (if self employed) or $11M (if not self employed) in today's dollars over that time. Likely somewhere in between given the amount and time you cited paying in.
Not shabby.
Originally posted on Nov 14, 2024 at 9:28:13pm
Message modified by unctoothman on Nov 14, 2024 at 9:30:21pm
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