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I have a job offer from an American company that does business in Saudi Arabia. The salary is low 60s in USD. The only taxes I have to pay are FICA. I have been living in working abroad for 12 years, and I'm thinking that it might be a good idea to start working for an American company so that I can make Social Security contributions through FICA. Does this make sense? I'm 54 years old. I have enough SS contributions to make the minimum requirements, but not much more.
My question is how do I figure out what the advantage would be, Social Security-wise, and whether I should even be worrying about it at all, rather than just making as much cash abroad and not contributing anything to Social Security. As it stands now old. I have abou $120,000 saved for retirement, and because food and housing are included with the Saudi job, it looks like I might be able to save $150,000 if I can last 3 Years in the KSA.
Will five years of FICA contributions with a decent salary increase my Social Security enough to make a difference? How do I figure out the numbers?
My question is how do I figure out what the advantage would be, Social Security-wise, and whether I should even be worrying about it at all, rather than just making as much cash abroad and not contributing anything to Social Security. As it stands now old. I have abou $120,000 saved for retirement, and because food and housing are included with the Saudi job, it looks like I might be able to save $150,000 if I can last 3 Years in the KSA.
Will five years of FICA contributions with a decent salary increase my Social Security enough to make a difference? How do I figure out the numbers?