Osodecentx said:
nein51 said:
Osodecentx said:
boognish_bear said:
I approve
Now is the time
Or let's get started on some real solutions. You shouldn't have to work until you die to get YOUR money.
I'll take $.50 on the dollar for what I'm owed. I'll generate many times the return that SS will ever generate.
What about retirement pay 2 years later starting in 2035?
I believe that would make retirement age 69 which is the oldest of any modern nation. The average lifespan for adults in the US is 78.4; 75.8 for men and 81.1 for women.
That is essentially working your entire life. The average social security check for a 70 year old is just over $3,000/mo. The average American contributes about $367,000 to SS over their lifetime.
That does mean the average person would get back what they paid in. Thats an ROI of $0.00
If you put $100/mo into an index fund in 2000 you would have contributed $30,000 and would have at least $100,000.
If you put $100/mo into an index fund in 1990 you would have contributed $42,000 and would have at least $310,000
If you put $100/mo into an index fund in 1980 you would have contributed $54,000 and would have at least $1.2M.
If you put $100/mo into an index fund in 1970 you would have contributed $66,000 and would have least $1.8M
That doesn't account for the $300,000 you would not have contributed to SS. If you did NOTHING with that money you would have 2.1M. You don't want to know how ridiculous those numbers get if you put the other $454/mo into the same index fund. You would have generational wealth.
SS was meant to force people to save. What it really did was force them to be poor and lend money to the government for free.