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Can Railroad Retirement Be Worth $1,000,000 In Benefits?
(Posted March 23, 2011)
Question 806: When my husband gets his yearly RRB statement, it shows his "total" amount in "his" retirement account is over one million dollars. However, there is no way with a monthly payout of $3,000 to $3,500 he would ever get close to that amount. Is this a mistake?
Answer: According to the information furnished in your question, your husband receives over $40,000 a year in Railroad Retirement.
Assuming his benefits started at age 60, by the time he is 84, he will have received more than one Million dollars in benefits!
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