Investments are NOT entitlements and SS is nothing more than a forced and extorted investment! I’m not even close to being a “boomer” I’m a proud “Gen X” raised by parents who still fall into the greatest generation (I think since they were born in 1941). I don’t understand the vitriol and animosity spewed and I’m not interested in getting sucked into the childish name calling….I hope. 😂
Receiving SS is no different than receiving an annuity payment or 401k distribution.
Off to more important things for the time being.
Have a good Sunday guys!
I agree 100% except.......
When the amount you get exceeds what you forced to put in by 1-1/2, then IMHO it becomes an entitlement.
Once the SS system was figuered out Politicians couldn't wait to get their hands on that big ole pile of cash to play with.
So social security should be a 0% savings account? Even at only a 3% annual interest rate, a $200 monthly SS contribution will yield way over double the total contribution over a 50-year working life ($120,000 in, $270,712 out).
Receiving only a 50% increase in SS distributions over one's contributions, isn't an entitlement, it's an absolute *ss r*pe. If one was allowed to keep that $200/month an invest it in the S&P 500 (50-year return = 10.26% annual), they'd be sitting on $3,066,600 at retirement.
Almost EVERYONE who draws SS is getting screwed by it, compared to where they'd be if they'd just kept their money.
Politicians (like the lottery) rely on people being bad at math!
Cheers,
Rex
