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
You shouldn't expect the .gov to be an investment firm and to take care of you, Maybe you're expecting to much........
Almost EVERYONE who draws SS is getting screwed by it, compared to where they'd be if they'd just kept their money.
Absolute fact but to expect the .gov to grow your money for you is nothing short of crazy.
