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What' the maximum a retiree can receive on Social Security; couple FICA taxed to max when working now retired?
12-18-2012, 06:13 PM
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People > Me Offline
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What' the maximum a retiree can receive on Social Security; couple FICA taxed to max when working now retired?
I know a man, married and taxed to the max for FICA; wife was a house wife. The recession wiped out their retirement. The old man worked several years past 67 and made over 100k in the latter years and over a quarter million in some really good years. He cannot find work now in any field and must rely on social security. I'll be honest, I worry about them as they are used to a very comfortable life.
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12-18-2012, 06:21 PM
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Susie T Offline
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The maximum monthly benefit for someone 70 in 2010 is $3,119. Spousal benefit would be an additional $1,560 (approx.). Total $4,678, or $56,000/year. More than the average family income in the US.

He was "wiped out"? The stock market "only" dropped 40% and has rebounded about 25%. Was he invested with Bernie Madoff?

Nice of you to be so concerned about him.
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