Quote:
Originally Posted by biker1
A couple of years ago I put together a quick spreadsheet to figure out the future value of my SS contributions (both mine and my employer's). I assumed 7.5% return each year. I should have used an actual stock market index return - maybe I'll go back and do that. Regardless, the future value turned out to be approximately 5x what was put in. Assuming a withdrawal rate of 5%, it would provide me about 30% more than my SS benefit.
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The numbers don't lie, the markets represent the hard work , creativity of the business system that is forever working to be more efficient, profit = productivity, productivity makes your standard of living . yes there are ups and downs in the markets and as you get closer to retirement you reallocate to a more conservative stance , the common sense , pragmatic idea of investing is lost on many so your government set up a welfare program , SS that pays out more than just retirement benefits, no thinking ' no discipline, just spend your money on all the shiny objects you see, your future taken care of by someone else, your government , setting up a system that is not sustainable , that's ok it will be a problem for somebody else . If you think SS was going to be your sole retirement income you were looking at a very meager standard of living , but then you were not looking too deep