Tom Poje Posted November 17, 2017 Share Posted November 17, 2017 ok, modified my indexed limit spreadsheet to now include a calculation of soc sec. all you have to do is enter your DOB and the most recent comp entered. then enter your comp history. after that, the spreadsheet needs to be updated each year with the most recent avg wage (govt releases every year late oct) , the latest taxable wage base, and you latest comp. I've tried some different scenarios and have been able to produce the same results found at https://www.ssa.gov/planners/retire/AnypiaApplet.html well, ok, since I am not rounding, my results might be a $1 more or so. and once you have your historical comps entered you never have to do that again. they used to send you an annual statement listing all your comp, now you have to go out to the website to get this every year. found this quite interesting how it is actually calculated. and it is not: have soc sec taken out and then never see again. at least not yet. ok, if you are really young I might not have extended my fields far enough. indexed limits and soc sec.xlsx Link to comment Share on other sites More sharing options...
ESOP Guy Posted November 17, 2017 Share Posted November 17, 2017 soc sec calculator (for fun, of course!) You and i clearly have different ideas of what is fun! Link to comment Share on other sites More sharing options...
david rigby Posted November 18, 2017 Share Posted November 18, 2017 It appears Tom has some free time. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
Belgarath Posted November 20, 2017 Share Posted November 20, 2017 Social (in)Security? My assumptions are that I'll get just enough to live in a yurt and eat pine needles. Maybe once in a while my kids will drop off their compost so I can make a salad or a soup out of it. But remember, Washington is going to give tax cuts to us "hard working Americans" so we'll be rolling in money shortly... Link to comment Share on other sites More sharing options...
Bird Posted November 20, 2017 Share Posted November 20, 2017 Quote all you have to do is enter your DOB and the most recent comp entered. then enter your comp history. Quote they used to send you an annual statement listing all your comp, now you have to go out to the website to get this every year. I guess efficiency was not a goal in preparing this, eh Tom? Ed Snyder Link to comment Share on other sites More sharing options...
Tom Poje Posted November 20, 2017 Author Share Posted November 20, 2017 Bird - actually, efficiency was the goal. once you have entered the comps you don't have to reenter them again every year. you have something that can be updated rather simply each year. you could easily modify future comps to assume a salary increase. etc. Link to comment Share on other sites More sharing options...
Bird Posted November 20, 2017 Share Posted November 20, 2017 I meant as opposed to simply logging in to SS and using their numbers. But if you want to be able to assume increases, etc., ok... Ed Snyder Link to comment Share on other sites More sharing options...
mctoe Posted November 22, 2017 Share Posted November 22, 2017 Tried out the spreadsheet and I like it! Could this spreadsheet be used for say a 30 year old to project the benefit at 62, FRA,etc.? Link to comment Share on other sites More sharing options...
Tom Poje Posted November 24, 2017 Author Share Posted November 24, 2017 thanks for the kind words. indexed limits and soc sec.xlsx yes, in fact I thought it did, though I think it was only doing the projection to age 65 at that age. certainly unintentional on my part. I copied the cells down further and increased the range. this version should do the trick mctoe 1 Link to comment Share on other sites More sharing options...
Tom Poje Posted November 29, 2017 Author Share Posted November 29, 2017 they have revised the 2016 avg wage down from 48664.73 to 48642.15 This also changes the TWB from 128,700 to 128,400 so for the worksheet to be correct the numbers need to be adjusted Mike Preston 1 Link to comment Share on other sites More sharing options...
Mike Preston Posted November 29, 2017 Share Posted November 29, 2017 Thanks, Tom. Link to comment Share on other sites More sharing options...
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