If My Statement Were a Crystal Ball
Oct. 24th, 2009 08:08 am[Note: if this looks boring just read the two shortest paragraphs below.]
I received my annual Social Security statement this month. It shows that I have had Social Security earnings for 30 years now. The earnings for each year are listed and those listings are separated into groups of ten years. This makes it easy to see a pattern in my earnings history.
During the first ten years, 1980 - 1989, my earnings ranged from $579 to $6,005 per year. Then in 1990 I earned $14,888. (I got my first full-time non-temporary job on December 18, 1989.)
During the second ten years, 1990 - 1999, my earnings ranged from $14,888 to $24,430. Then in 2000 I made $30,299 (almost as much as my first ten years put together). That was when I quit working as a typist and got a job that actually used my degree. Of course I immediately ran back to the university and I took a pay cut to do it, but that pay cut wasn't very large.
During the third ten years, 2000-2009, my earnings ranged from $28,395 to about $42,000. (The figure for 2009 isn't shown, but I can make an estimate.)
So, if this pattern holds, I can expect to make a significant jump in income next year to, say, $50,000. Woo hoo!
On the other hand, you could notice that the first decade I increased my income infinitely over the previous one, the second decade I made six times as much as the first decade, the third decade I made twice as much as the second decade. In that case, you might guess that in this next decade I can't expect much of an increase at all. But since I plan to retire halfway through the decade, and pension income and IRA income don't count as Social Security earnings, a total about the same as this last decade also implies that a big jump in income is in my near future.
I wonder how that's going to happen.
I received my annual Social Security statement this month. It shows that I have had Social Security earnings for 30 years now. The earnings for each year are listed and those listings are separated into groups of ten years. This makes it easy to see a pattern in my earnings history.
During the first ten years, 1980 - 1989, my earnings ranged from $579 to $6,005 per year. Then in 1990 I earned $14,888. (I got my first full-time non-temporary job on December 18, 1989.)
During the second ten years, 1990 - 1999, my earnings ranged from $14,888 to $24,430. Then in 2000 I made $30,299 (almost as much as my first ten years put together). That was when I quit working as a typist and got a job that actually used my degree. Of course I immediately ran back to the university and I took a pay cut to do it, but that pay cut wasn't very large.
During the third ten years, 2000-2009, my earnings ranged from $28,395 to about $42,000. (The figure for 2009 isn't shown, but I can make an estimate.)
So, if this pattern holds, I can expect to make a significant jump in income next year to, say, $50,000. Woo hoo!
On the other hand, you could notice that the first decade I increased my income infinitely over the previous one, the second decade I made six times as much as the first decade, the third decade I made twice as much as the second decade. In that case, you might guess that in this next decade I can't expect much of an increase at all. But since I plan to retire halfway through the decade, and pension income and IRA income don't count as Social Security earnings, a total about the same as this last decade also implies that a big jump in income is in my near future.
I wonder how that's going to happen.