Social Security updated 10/31/23 Davin Dearth - Needs to be corrected

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James Condello

• December 12, 2023 02:37

This article has a significant error.  The break-even example is off by almost 10 years.  In the example given, you don't divide 63,000 by 1,500 you divide it by $450.  I'm not sure how this got through editing.  So break-even is closer to 79, not 70.5.  The formula used is using the full amount being collected at age 67 to make up for the 63,000.  However, since you're comparing to someone who is collecting 1,050, you only use the difference to calculate break-even.  For more clarity total payout collecting 1,050 from 62 until 70.5 = ~107,100.   Collecting 1,500 from age 67 to age 70.5 =~ 63,000.  So by age 70.5, you're still about 44.1 behind.    70.5 is no where near break-even!  It's closer to age 79!

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  Victor D

  • December 12, 2023 21:18

  Hi James -

   

  Thanks for posting to the NerdWallet Community Forum!

   

  Please e-mail your post to support@nerdwallet.com along with the exact inputs you're using, so that we may replicate the issue; and we'll follow up with you.

   

  Best regards,

  Victor

   

   

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