Quote:
Originally Posted by Guest
You are required to pay into SS but you draw out more than you put into it. Figure out how much you had to put in, now figure out how much you believe you and your spouse will withdraw for a lifetime. Which figure is higher?
You cannot say you would have been able to invest that same amount and get a higher return - we all know that the vast majority do not or would not start any saving for retirement until their mid-40's unless forced to do it.
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I recently attended a seminar on Social Security and they showed where the first recipient paid into the system a little less than $25.00 and collected over $100,000.00 in her lifetime and that was before a large number of sweeting enhancements were added. A pencil, pad of paper, and a willingness to be honest easily shows we have promised much more than can ever be paid. Kind of like Detroit.