Lost Social Security Income for HSL

[wanaads]

Hi Everyone,

I'm trying to add a little section in my HSL about the social security income I will lose if I have to move to Honduras for 10 years but my brain is fried from too many late nights with this darn thing. Can someone tell me how to figure this out? I have my current statement but I was never a math genius to begin with and I just can't figure out how to come up with a correct number. Or should I not even try to come with one but just say that I will lose the opportunity to contribute?? Help!

[kitkat1]

wanaads, I would pick up the dollar amounts from your social security statement and write something like:

Moving to XXX country would put my future Social Security benefits in jeopardy as I would no longer be able to contribute to the system. Social Security benefits are based taxable earnings on an annual basis. The Social Security Administration estimates benefit amounts using average earnings over my working lifetime, and assumes that I will continue to work in the United States and make about the same money as I have in recent years. At my current earning rate, at age 62 my benefit payment monthly would be about $xxx. If I continue working until age 67, my benefit payment monthly would increase to $xxx. If I stop working in the United States and no long contribute to the Social Security system, this level of benefits will not be available to me and would put my retirement in jeopardy.

Hope that helps you.

[y14gemini]

Hey KK, haven't seen you around much :) Anyways that was awesome advice you gave wanaads!!

[wanaads]

Thanks so much kitkat!!! That's exactly what I needed. That was my last section - I'm going to be finished writing tonight!! :yay: