#social-security
2 articles
Quitting to Caregive for 2 Years Can Cost a $65K Earner Six Figures — Not Just the Salary
Lost wages are the visible part. We ran the SSA's own bend-point formula on a 2-year caregiving leave and found the lost employer match and a permanently lower Social Security check often outweigh the missed paychecks.
Claiming Social Security at 70 Instead of 62 Pays ~76% More Per Month — Yet a Third of Retirees Still Claim at 62
SSA's own reduction and delayed-credit formulas turn the same Primary Insurance Amount into a 0.70x check at 62 or a 1.24x check at 70. Compounded over a 20-30 year retirement, that's a six-figure lifetime swing.