Quote:
Originally Posted by eyc234
Not hard to find the information. Just type in average Social Security rate of return on investment and then average return on investment in stock market. SS over last 55 years returns 1.23% to 1.7%. For the stock market it is approximately 10%. In 2005 President George W Bush attempted to allow a portion of SS to be invested in private accounts. The outcry by retired Americans was so massive that it was stopped. We did not count on getting SS for our retirement but sure would have loved to invested a portion in the stock market as we would have a loooooot more money now. Could have retired better off and sooner than 50.
|
Quote:
Originally Posted by jimbomaybe
|
My money in SS returned 0% as far as I can tell EXCEPT, I will receive an increasing amount every year until I pass regardless of how much I actually contributed.
On the market side, the amount of money I have in SS the longest is tiny compared to what I contributed the last few years. During that time it has taken at least three big losses. It recovered from each of those but the losses have to be considered as well and could happen again.
The amount that I would be able to withdraw from a market account would also be affected by future market returns affecting a likely decreasing balance. Figure poorly and I would be talking to a reverse mortgage salesman or knocking on my kid’s doors (if I had any children)
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
|