Originally Posted by pondering_it_all
At the extremes, it IS possible to live on Social Security alone. I've worked for decades as a software engineer so my Social Security report says at age 70 I would collect $3428 per month. Could I live on $41K per year? Sure if I downsized, moved to a cheaper part of the country, and lived a somewhat frugal lifestyle.

In fact I have a wife, so we can actually collect 50% more. We will get $61,704 per year. Well above the poverty line for a couple.

People very consistently underestimate what Social Security is worth. I would need over $1.2 million dollars invested at 5% to make that much money every month. Social Security is the most conservative part of my portfolio.

You're talking max, not what most people get. You had to have had a much higher than average income to get that much from SS- probably near the top 5 or 10%.
And your SS calc we already discussed in a previous thread. Doesn't really work that way. It is an aggregate actuarial calc. It accumulates over time.

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