When budgeting for retirement, I noticed that many of the online calculators do not factor in social security (SS) payments. Is the expectation that we should save enough money to manage retirement without SS? When I plug in my details on SS website (I hope to retire in next 25 to 35 years), SS states they will pay out around 8K to 11K per month at that time. In fact, if I project my current expenses to those years (assuming 3% YoY inflation rate), that SS payout will cover a large portion of my expenses. This makes a significant difference in budgeting, so I was wondering what do y'all do generally in your calculation. Thank you!
original posted by shady00041 to r/personalfinance on Sun, 03 Mar 2024 01:02:02 GMT.