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Posted by Randi 2 years ago In:

Randi
Randi Asked:

Dan, I have a very small 401k right now. Lately ...

Dan,

I have a very small 401k right now.  Lately I have been hearing that social security is based on the last 10 years you work before retiring, so if I retire at 62, it would be what I made between age 52-62.  What happens if you don't work because you get laid off, or you work part time? What happens to all the money I have been putting in my whole work life?  If what I've heard is true, it doesn't seem fair?  I am hoping you will tell me I am wrong, and that it will be based on a percentage of what I have put in the whole time.

Sincerely,

Randi

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Answers

DB Lady
DB Lady Answered:

Randi,

   If I was in your shoes, I'd go to the Social Security Office and inquire from them.

You'll get more accurate information.  I am 55 years old and my retirement age is

69, a long way to go.  By that time Social Security money is no longer available,  Too bad.........Frown

Be honest and be true to yourself.
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