Lower Social Security Eligibility to 55; Raise Benefits By 15%

[dkf]

19. Do you know how much you need to save to retire comfortably?

My retirement calculator at work tells me I need $2 million with a 4% post retirement return. If the meager amounts from social security push you over to retirement you are either rich or maybe you are one of the few with a nice pension who can retire early anyway.

Moreover they use your highest 35 years of earnings. If you don't have 35 years then they throw in zeros for those years.

I can see this is a great way to turnover government workers if that is the goal. But it would also drain their pension systems earlier than expected.

There are always these unintended consequences. It needs to all be considered pros and cons.