Somebody posted on here a detailed article on how every white man averages paying in $210K to social security while the average black man costs the gov't $750K in government expenses over his lifetime. We couldn't afford for the 13 percent to get any bigger.
Careful, that’s an evil train of thought to follow, the world has plenty of resources. The solution is to end entitlement programs. Not murder more humans.
I was just using math. I believe it's something around 73% of aborted babies in America are black. ..fits nicely mathematically for dem psychos to encourage abortion with the comment I replied too .
They can scream blm and racism and blame the right or whites for racism ,while secretly keeping a race below or at 13% ..AND have plenty of fetuses for their sick spirt cooking ,satanic rituals ,cosmetics and black market medical experiments
I wish it was a Ponzi scheme, I'd probably have gotten more money back. 'Social Security' is real socialism...the more you contribute, the more they take away from you and redistribute to lower earners/contributors.
There's another layer to the scam. The " Federal Reserve " claims that growth rates of more than 5% or so trigger "chaotic Boom/Bust cycles", so they stress, puppeteer, the US economy to prevent high (real/organic) growth rates, .. controlling, weighing down the economy's "irrational exuberance" if, despite all their other sabotages, it occasionally manages to grow anyway.
Meanwhile, competing/enemy nations are free to run 8%, 10%, etc (if their inferior systems are able) grow rates and that's just fine for them, even being lauded by our idiot media.
So, although fantastically higher than Social Security's payout, the $1.9million @ 5% figure is quite light and should be compounded at twice that or higher.
I looked at some summary numbers and, if they stopped taking money in this year, they would be able to pay out til around 2032. If they keep taking money, they extend that timeline. Money coming in THIS year is not needed to pay anybody. It seems as though the money was already there to pay this year's bill...say 6-8 years ago.
So I stopped bein so pissed about the general concept.
Still pissed they have ever been allowed to raid it, but it's a lot of money sitting there "doing nothing". Opportunists without conservative foresight will be drawn to it like flies on shit.
I read this and can't help but think about the plans to defund the police causing businesses to close resulting in real estate becoming cheap and the elite rich being able to then buy the properties. They could afford to privatize fire/security, etc. Other side of the coin.
The only reason we need police is because we continue to allow moral degenerates to live amongst us and to breed.
When we banish the uncivilized from civilization, the moral people who remain will not commit crimes against each other so the services of the police will no longer be needed.
Problem solved.
The first jurisdiction that does this will experience rapid innovation and prosperity. They will conquer the world and drive the moral degenerates to extinction.
This kind of libertarianism is the other side of the coin of communism.
People latch onto the ideal/concept but it never actually works in reality.
I'm also extremely frustrated by taxation when you see how much is wasted. I suspect we could pay half or less of what we do and keep the services we need. I also recognise there are services we need to fund as a community. There needs to be balance in these things.
I know people largely disagree with this line of thinking, but that to me comes across more like immaturity or anger to me than actually considering the issue and solutions.
And watch how this gets down voted but no-one can show the counter view ever working or has practical position for how it works.
Much of the western world, and it was even better before the 00's
Your turn. Where is the libertarian model working? Or you going to be the person that demands things or complains while never trying to think about, or offer real solutions.
Okay you’re absolutely right, the government is much better at spending my money than I am. I should just give all of it to them, since any good or service that I need would be produced and handled much more efficiently by the government than any kind of private business. That’s why all of our infrastructure is state of the art, our public schools are the envy of the world and our military has won every war they have fought in my lifetime.
No system is perfect. It's easy to critisise and find flaw.
Show me where your version works better.
Even try to lay out with some level of intellectual vigor why it would work better.
You can't can you.
Like I said, some people demand and complain while never trying to think about, or offer real solutions.
It's usually more prevalent on the left side with victim culture, but you're doing a good job here. Think about it. Be a solutions thinker, not a complainer looking to tear down only.
Make the politicians stump for money to fund projects instead of sitting on their asses and phoning it in. Contracts should be available for public perusal. No nepotism. All public servants and wannabes should be given air time (think c-span) to make their lobby to voters.
Yeah, back when we were a third world shit hole getting around on horseback. I kind of enjoy having paved roads, running water and myriad other conveniences of a developed modern country.
This site is a mix of right wing anarchy and MAGA dictatorship don't take the down votes personal. 90% of this site I align with but yes communities should pay for local public services like fire and police.
Yes. The only disagreement is how they would be paid.
Consider that having government operating those services has gotten us to where we are now, with local, county, state, and federal governments with so many lettered agencies with rules, edicts, permits, licensure, etc...
I would like to pay those agencies directly, and that they be private. Each address assessed their fare share. It could be included in rent. Not sure how homeowners would comply. I'm sure it would be a very low cost if it was actual cost.
We would need to revert back to a time of personal responsibility from the current victimhood and being owed an income, before anything like this could happen, in other words, never . . . . . .
This is true and Bush tried to make the change by getting congress to draft a bill allowing Americans to redirect funds into 401ks instead of get social security and of course the Dennis Hastert and Nancy Pelosi scared the country into the status quo while they got richer than god.
Privatization would've been an improvement, but the right answer is always keeping the government's grubby little mitts out of our pockets in the first place
i did this calculation long ago for my own situation. i could have made more putting the money stolen from me for SS into a 0.5% savings account, not a five percent, but one half of one percent. Thats how much of a POS ponzi scheme SS is. And of course this was a few years ago that I did this calculation, no doubt once I get to retirement age it will be less money and/or the retirement age will be raised, or in all likelyhood, SS will be eliminated entirely.
i just hope when they kill ss it happens before ive paid in much more. im around the halfway point in my career, would really love that money for myself now, to invest not in Ukraine
A ponzi with several decades worth of lifespan. Government stealing from it and it is helped to 'live longer' by youngsters (like all the cases of 'Died Suddenly') dying early in their life so that they can't pull SS
For Died Suddenlies to be benficial to the government, they would have to die after contributing for decades, but just before retiring. The nursing home deaths when covid hit would fit that scenario slightly better than the very young.
It's true but this is old news. Bush tried to privatize social security.
SS is set up so that people paying into the benefits now are finding the current retirees receiving benefits. The current issues with SS are not even about funding, they are due to Congress borrowing from the Trust fund repeatedly and not paying it back. This might have been ok if it weren't also the perfect storm of retiring baby boomers.
As such we have a situation where the most obvious solutions are some combination of raising the retirement age again, lifting or eliminating the cap on social security wage tax, lowering benefit amounts and raising the employee and/or employer tax rate.
Yep, if we didn't have a fiat currency, you'd expect to get out what you paid in plus some low interest for lending it to the government. All of the "if you invest $100,000 now, you'll have $5 million when you retire!" ads the brokerages run are based on the currency being worthless when you retire.
He's using the maximum amount of 160k a year that gets taxed for social security. Here's a far more average portrayal.
You pay 6.2 of your wages and your employer pays an equivalent amount. Also known as you pay 12.4% and your employer just lowers your salary by 6.2%.
Anyway you making 50k a year. Respectable job right?
6.2% of 50k is 3.1k. This is the amount you notice disappearing from your paycheck. You're actually being robbed of 6.2k but whatever.
3.1k every year assuming you start working at 18 and work till social security kicks in at 67. That's 49 years paying 3.1k a year into the system. For simplicity your wage didn't change, inflation was 0% for half a century.
3.1k times 49 is 151 900. Meaning the actual number is double that but your employer "paid" it by slashing your salary up front.
To get the maximum out of the social security ponzi scheme you need to have worked >35 years. As the last 35 years dictate income. See you started working for 30k for 10 years but 39 for 50k means you get social security based on the 50k level, which I remind you is your income - 6.2% your employer is pre-withholding from your paycheck. So you would have gotten more if your employer wasn't required to do that by law and give you an additional 3.1k a year.
So social security pays up to a maximum meaning you get a % of what you earn. The first 1100 you earned on average over the past 35 years is counted at 90%. The rest up to 6700 at 32%.
So dude made 50k for 49 years comes out to 2000 buckeroonies. But wait! There's MORE! You thought the taxes were over? Nah!
If you have the AUDACITY not to want to live like a beggar on 2k a month, that's 24k a year, literally below median after working your entire life, you get taxed! Because you have other income. That income is taxed and up to 85% of your social security gets taxed too!
Money you LITERALLY PAID AS A TAX into a fund that is supposed to pay you back the money you put in during your elderly years is getting TAXED because you make too much money.
Anyway. So you got like a 50/50 shot of living till 80. So most people are gonna get 13 years, maybe 15 years of social security. Some get 0 years cause they die young, but they those same people would also get 0 from investing cause they died young before the investment was expected to pay off.
But average 15 years let's say of 24k a year is 360k total payout. Remember you only put in 152k!!! What a steal.... oh wait no... you put in 304k.... cause your employer was creative accounting 6.2% off your salary to pay the mandatory contribution.
You know what this means?
You could have literally saved that money and not be worse off in the SLIGHTEST. Maybe live off 1900 a month stead of 2000. In fact, simply buying dividend paying stocks with that money instead of putting it in social security could have netted you hundreds if not thousands of dollars each year that you could have put back in dividend paying stock and by this time be living ENTIRELY off that dividend with >300k in stocks you can liquidate
Just your run of the mill stock like IBM, take 3.1k buy em up, (we are ignoring price increases or decreases) and you get 31 shares today! 40 years ago you could ahve gotten more but again ignoring that.
31 shares net you 185 dollars a year. Now we do that 49 years. 1519 shares get you 9113 buckos a year! Double that for the employers 6.2%. But that's only 18.2k! But of course, annually you're also taking the money you earn from dividend and slosh it back into the stocks.
So first year you buy 1 extra stock. 2nd year you buy 2. 3rd year you buy 3 etc etc etc. So with an extra 1225 shares you got an extra 7340 bucks! So your total comes out to 25.5k a year.... a whole 1.5k HIGHER than social security.
And no matter how much you work in addition to that wage it will NEVER be taxed at 85% like social security. Cause this is how the rich live. And the rich ain't cutting that dividend.
Also remember just by buying dividend stock you also have over 300k in value you can sell or bequeath to your children when the end nears. You can't inherit your dad's social security. No matter how much you paid into it. It is wealth the government has permanently stolen from you and now leverages loans against it for their excess.
In addition, the final addition I promise, all of this is assuming a static market.
As we know markets go up. It is the nature of inflation. Market will have to go up regardless. Which means your dividend which is a percentage of face value will also go up. So this example is underselling your potential benefit as compared to social security. Any over performance of the market above inflation is profit you can reinvest into your retirement.
The only thing Social Security insulates you against is risk. It moves with inflation thanks to Nixon, it is untaxed if it is your sole source of income. It doesn't give you a better pay out, a better living and in fact is designed to underpay you by hiding 6.2% of your actual wage through an employer contribution clause. But it will always pay. Mostly cause politicians would be swinging if it didn't.
Best I can find would be no and yes. 600k divided by 50 years would be 12k a year. Currently max taxable income for OASDI is 160,200 and they would pay 9,932.40 themselves. However the employer always pays so it could be true if you consider both contributions into the fund for the single person. So it could be much higher depending how you count.
If you put it in an S&P 500 fund it will accrue and average of 10% a year. Obviously some years are at a loss, and some years you gain much more than 10%. As you get older, rebalance your portfolio away from stocks and into much safer bonds, so that you don't get screwed if the stock market tanks the year you retire. I'll bet on this over SS any day of the week.
Many have done the math on this and it always turns out that if you invested the money that is taken from your check as social security into a normal retirement account instead of the government stealing it, you'd be much better off.
I don't know your contribution rates in USA but 600k seems high. In Chinada at today's rates our contribution would be 280000 without compounding, or 1.36 mil compounded at 5% over 42years. Max pension is in the 15k range. It is a ripoff even if you never earn max or the number of working years is shortened. Most dumbasses cannot be convinced they are being ripped off. If you don't work and don't contribute the taxpayers pay a very similar pension to you called a guaranteed income supplement.
I am Canadian and I have no idea how your retirement system works but just basic math if you worked 45 years to 67
Assuming no interest on your money you would contribute 13,333 per annum, that sounds very high especially 45 years ago. I dont think this is very accurate
If not for taxes, I could “retire” at 55. Then I could determine how I want to live my life. Woodworking, gardening, etc. “everything good is already in each of us”. The only reason we aren’t already living in utopia is?
It's a little bit misleading. The payments into social security are not lump sum. They're made incrementally from the moment you start working until you retire, as a part of the tax you pay.
This assumes that the investment is lump sum, and is paying out for that lump sum.
So while the social security system as it exists now is still a poor investment, this tweet is a poor example as to why.
It is incredibly easy to figure this out for yourself, on your own.
Register with the social security administration: https://www.ssa.gov It'll take 5 minutes.
Then you can see how much you've paid in over the years and using your own ideas for how you would have invested the money had it been in your pocket, you can figure out how badly you've been screwed.
Note that there have been limits in place for decades over how much income gets taxed by SSA. It used to be mid 80k but steadily rose from there.
I just now tried to log in to my own account but the system is...hilariously...down!!!
In any case, it's easy for anyone to do and I recommend -- do it!
It definitely was intended as a social safety net, not as your retirement plan. Of course, they take the money you could have saved for retirement and give it to low- or no- income people now while flooding the country with more people that (net) won't contribute towards solvency.
But if all the workers opt out who would pay for all welfare EBT cards etc..come on man
Somebody posted on here a detailed article on how every white man averages paying in $210K to social security while the average black man costs the gov't $750K in government expenses over his lifetime. We couldn't afford for the 13 percent to get any bigger.
Probably the other reason they love abortion
Careful, that’s an evil train of thought to follow, the world has plenty of resources. The solution is to end entitlement programs. Not murder more humans.
I was just using math. I believe it's something around 73% of aborted babies in America are black. ..fits nicely mathematically for dem psychos to encourage abortion with the comment I replied too . They can scream blm and racism and blame the right or whites for racism ,while secretly keeping a race below or at 13% ..AND have plenty of fetuses for their sick spirt cooking ,satanic rituals ,cosmetics and black market medical experiments
I wish it was a Ponzi scheme, I'd probably have gotten more money back. 'Social Security' is real socialism...the more you contribute, the more they take away from you and redistribute to lower earners/contributors.
There's another layer to the scam. The " Federal Reserve " claims that growth rates of more than 5% or so trigger "chaotic Boom/Bust cycles", so they stress, puppeteer, the US economy to prevent high (real/organic) growth rates, .. controlling, weighing down the economy's "irrational exuberance" if, despite all their other sabotages, it occasionally manages to grow anyway.
Meanwhile, competing/enemy nations are free to run 8%, 10%, etc (if their inferior systems are able) grow rates and that's just fine for them, even being lauded by our idiot media.
So, although fantastically higher than Social Security's payout, the $1.9million @ 5% figure is quite light and should be compounded at twice that or higher.
The scam you are referring to the devaluation of the currency via the money printing of the central bankers.
They’ve been systematically robbing us all since 1971 and most people are STILL oblivious as to why they are working harder and getting poorer.
Having the option to opt-out of their system would mean not using their scam currency.
They kill people who try that.
e.g. Saddam Hussein, Muammar Gaddafi, bitcoiners, Russians, …
Correct. The money collected is paying current retirees not going into a mythical "lockbox" or being invested.
I looked at some summary numbers and, if they stopped taking money in this year, they would be able to pay out til around 2032. If they keep taking money, they extend that timeline. Money coming in THIS year is not needed to pay anybody. It seems as though the money was already there to pay this year's bill...say 6-8 years ago. So I stopped bein so pissed about the general concept. Still pissed they have ever been allowed to raid it, but it's a lot of money sitting there "doing nothing". Opportunists without conservative foresight will be drawn to it like flies on shit.
All taxation is theft.
Government is slavery.
We need SOME taxation for fire department, infrastructure, etc... but yeah, the current system is fucked beyond belief.
Why do you think those things can’t be privatized and paid for voluntarily?
then all the bad areas would be completely gone... hm...
Win, Win
Free real estate then private fire departments in the now not bad area.
I read this and can't help but think about the plans to defund the police causing businesses to close resulting in real estate becoming cheap and the elite rich being able to then buy the properties. They could afford to privatize fire/security, etc. Other side of the coin.
The only reason we need police is because we continue to allow moral degenerates to live amongst us and to breed.
When we banish the uncivilized from civilization, the moral people who remain will not commit crimes against each other so the services of the police will no longer be needed.
Problem solved.
The first jurisdiction that does this will experience rapid innovation and prosperity. They will conquer the world and drive the moral degenerates to extinction.
I’m looking forward to Trump’s “freedom cities”.
Death to all pedophiles. Stop the madness.
Fire departments used to be private. Rival fire companies would duke it out at fire scenes to determine who got to fight the fire.
Show me where that worked.
This kind of libertarianism is the other side of the coin of communism.
People latch onto the ideal/concept but it never actually works in reality.
I'm also extremely frustrated by taxation when you see how much is wasted. I suspect we could pay half or less of what we do and keep the services we need. I also recognise there are services we need to fund as a community. There needs to be balance in these things.
I know people largely disagree with this line of thinking, but that to me comes across more like immaturity or anger to me than actually considering the issue and solutions.
And watch how this gets down voted but no-one can show the counter view ever working or has practical position for how it works.
Show me where your system is working.
Much of the western world, and it was even better before the 00's
Your turn. Where is the libertarian model working? Or you going to be the person that demands things or complains while never trying to think about, or offer real solutions.
Okay you’re absolutely right, the government is much better at spending my money than I am. I should just give all of it to them, since any good or service that I need would be produced and handled much more efficiently by the government than any kind of private business. That’s why all of our infrastructure is state of the art, our public schools are the envy of the world and our military has won every war they have fought in my lifetime.
No system is perfect. It's easy to critisise and find flaw.
Show me where your version works better.
Even try to lay out with some level of intellectual vigor why it would work better.
You can't can you.
Like I said, some people demand and complain while never trying to think about, or offer real solutions.
It's usually more prevalent on the left side with victim culture, but you're doing a good job here. Think about it. Be a solutions thinker, not a complainer looking to tear down only.
Make the politicians stump for money to fund projects instead of sitting on their asses and phoning it in. Contracts should be available for public perusal. No nepotism. All public servants and wannabes should be given air time (think c-span) to make their lobby to voters.
I guess you don't realize income taxes didn't exist for almost half of the United States country's life.
Yeah, back when we were a third world shit hole getting around on horseback. I kind of enjoy having paved roads, running water and myriad other conveniences of a developed modern country.
This site is a mix of right wing anarchy and MAGA dictatorship don't take the down votes personal. 90% of this site I align with but yes communities should pay for local public services like fire and police.
Yes. The only disagreement is how they would be paid.
Consider that having government operating those services has gotten us to where we are now, with local, county, state, and federal governments with so many lettered agencies with rules, edicts, permits, licensure, etc...
I would like to pay those agencies directly, and that they be private. Each address assessed their fare share. It could be included in rent. Not sure how homeowners would comply. I'm sure it would be a very low cost if it was actual cost.
We would need to revert back to a time of personal responsibility from the current victimhood and being owed an income, before anything like this could happen, in other words, never . . . . . .
Yes
Fire departments. You must be asleep. One on every corner. Rarely anything on fire. Waste of money.
One on every corner? Where do you live?! There are almost too few here and they are being called all the time.
Triggered
Nah bro. That just lost it for ya. We can get that on Reddit.
This is true and Bush tried to make the change by getting congress to draft a bill allowing Americans to redirect funds into 401ks instead of get social security and of course the Dennis Hastert and Nancy Pelosi scared the country into the status quo while they got richer than god.
Privatization would've been an improvement, but the right answer is always keeping the government's grubby little mitts out of our pockets in the first place
i did this calculation long ago for my own situation. i could have made more putting the money stolen from me for SS into a 0.5% savings account, not a five percent, but one half of one percent. Thats how much of a POS ponzi scheme SS is. And of course this was a few years ago that I did this calculation, no doubt once I get to retirement age it will be less money and/or the retirement age will be raised, or in all likelyhood, SS will be eliminated entirely.
No, it will be worse. By the time you make it to retirement age, assuming you are in your 30's or 40's, society will have most likely collapsed.
i just hope when they kill ss it happens before ive paid in much more. im around the halfway point in my career, would really love that money for myself now, to invest not in Ukraine
They'll only stop paying it out to new 'retirees', not taking the money from you.
(To clarify, I put retiree in quotes because we won't be able to afford to do that.)
This is what I'm aroused by.
Stop noticing things....but seriously, this is a huge red pill for NPCs
Is it any wonder why more and more people, mainly men, are deciding, "Fuck it I'm not going to work anymore."
A ponzi with several decades worth of lifespan. Government stealing from it and it is helped to 'live longer' by youngsters (like all the cases of 'Died Suddenly') dying early in their life so that they can't pull SS
For Died Suddenlies to be benficial to the government, they would have to die after contributing for decades, but just before retiring. The nursing home deaths when covid hit would fit that scenario slightly better than the very young.
Social Security went insolvent sometime around 1984-1986
Remember folks, there is no group of people that has 32 trillion dollars to just lend out to the USA, an insolvent borrower
It's true but this is old news. Bush tried to privatize social security.
SS is set up so that people paying into the benefits now are finding the current retirees receiving benefits. The current issues with SS are not even about funding, they are due to Congress borrowing from the Trust fund repeatedly and not paying it back. This might have been ok if it weren't also the perfect storm of retiring baby boomers.
As such we have a situation where the most obvious solutions are some combination of raising the retirement age again, lifting or eliminating the cap on social security wage tax, lowering benefit amounts and raising the employee and/or employer tax rate.
The last two are wildly unpopular proposals.
Or bringing in a bunch of immigrants which seems to be the preferred method in Washington.
I'm going to counter it and say "everyone getting 5% return would mean no-one is"
Yep, if we didn't have a fiat currency, you'd expect to get out what you paid in plus some low interest for lending it to the government. All of the "if you invest $100,000 now, you'll have $5 million when you retire!" ads the brokerages run are based on the currency being worthless when you retire.
He's using the maximum amount of 160k a year that gets taxed for social security. Here's a far more average portrayal.
You pay 6.2 of your wages and your employer pays an equivalent amount. Also known as you pay 12.4% and your employer just lowers your salary by 6.2%.
Anyway you making 50k a year. Respectable job right?
6.2% of 50k is 3.1k. This is the amount you notice disappearing from your paycheck. You're actually being robbed of 6.2k but whatever.
3.1k every year assuming you start working at 18 and work till social security kicks in at 67. That's 49 years paying 3.1k a year into the system. For simplicity your wage didn't change, inflation was 0% for half a century.
3.1k times 49 is 151 900. Meaning the actual number is double that but your employer "paid" it by slashing your salary up front.
To get the maximum out of the social security ponzi scheme you need to have worked >35 years. As the last 35 years dictate income. See you started working for 30k for 10 years but 39 for 50k means you get social security based on the 50k level, which I remind you is your income - 6.2% your employer is pre-withholding from your paycheck. So you would have gotten more if your employer wasn't required to do that by law and give you an additional 3.1k a year.
So social security pays up to a maximum meaning you get a % of what you earn. The first 1100 you earned on average over the past 35 years is counted at 90%. The rest up to 6700 at 32%.
So dude made 50k for 49 years comes out to 2000 buckeroonies. But wait! There's MORE! You thought the taxes were over? Nah!
If you have the AUDACITY not to want to live like a beggar on 2k a month, that's 24k a year, literally below median after working your entire life, you get taxed! Because you have other income. That income is taxed and up to 85% of your social security gets taxed too!
Money you LITERALLY PAID AS A TAX into a fund that is supposed to pay you back the money you put in during your elderly years is getting TAXED because you make too much money.
Anyway. So you got like a 50/50 shot of living till 80. So most people are gonna get 13 years, maybe 15 years of social security. Some get 0 years cause they die young, but they those same people would also get 0 from investing cause they died young before the investment was expected to pay off.
But average 15 years let's say of 24k a year is 360k total payout. Remember you only put in 152k!!! What a steal.... oh wait no... you put in 304k.... cause your employer was creative accounting 6.2% off your salary to pay the mandatory contribution.
You know what this means?
You could have literally saved that money and not be worse off in the SLIGHTEST. Maybe live off 1900 a month stead of 2000. In fact, simply buying dividend paying stocks with that money instead of putting it in social security could have netted you hundreds if not thousands of dollars each year that you could have put back in dividend paying stock and by this time be living ENTIRELY off that dividend with >300k in stocks you can liquidate
Just your run of the mill stock like IBM, take 3.1k buy em up, (we are ignoring price increases or decreases) and you get 31 shares today! 40 years ago you could ahve gotten more but again ignoring that.
31 shares net you 185 dollars a year. Now we do that 49 years. 1519 shares get you 9113 buckos a year! Double that for the employers 6.2%. But that's only 18.2k! But of course, annually you're also taking the money you earn from dividend and slosh it back into the stocks.
So first year you buy 1 extra stock. 2nd year you buy 2. 3rd year you buy 3 etc etc etc. So with an extra 1225 shares you got an extra 7340 bucks! So your total comes out to 25.5k a year.... a whole 1.5k HIGHER than social security.
And no matter how much you work in addition to that wage it will NEVER be taxed at 85% like social security. Cause this is how the rich live. And the rich ain't cutting that dividend.
Also remember just by buying dividend stock you also have over 300k in value you can sell or bequeath to your children when the end nears. You can't inherit your dad's social security. No matter how much you paid into it. It is wealth the government has permanently stolen from you and now leverages loans against it for their excess.
In addition, the final addition I promise, all of this is assuming a static market.
As we know markets go up. It is the nature of inflation. Market will have to go up regardless. Which means your dividend which is a percentage of face value will also go up. So this example is underselling your potential benefit as compared to social security. Any over performance of the market above inflation is profit you can reinvest into your retirement.
The only thing Social Security insulates you against is risk. It moves with inflation thanks to Nixon, it is untaxed if it is your sole source of income. It doesn't give you a better pay out, a better living and in fact is designed to underpay you by hiding 6.2% of your actual wage through an employer contribution clause. But it will always pay. Mostly cause politicians would be swinging if it didn't.
Best I can find would be no and yes. 600k divided by 50 years would be 12k a year. Currently max taxable income for OASDI is 160,200 and they would pay 9,932.40 themselves. However the employer always pays so it could be true if you consider both contributions into the fund for the single person. So it could be much higher depending how you count.
They need the money to feed the ticks that come to suck the gov teat. Shut and pay for it you bigot.
FYI, you would not necessarily have 5% interest on a necessary income investment.
To ensure it returns, you would have an interest potentially closer to 2%, which is closer to $37k/yr.
It's bad, but people forget that there is a cost to a guarantee rather than a pure investment.
If you put it in an S&P 500 fund it will accrue and average of 10% a year. Obviously some years are at a loss, and some years you gain much more than 10%. As you get older, rebalance your portfolio away from stocks and into much safer bonds, so that you don't get screwed if the stock market tanks the year you retire. I'll bet on this over SS any day of the week.
Many have done the math on this and it always turns out that if you invested the money that is taken from your check as social security into a normal retirement account instead of the government stealing it, you'd be much better off.
It's true, but the way it works is his money is going to people who live a long time, but didn't pay in much in their life.
I don't know your contribution rates in USA but 600k seems high. In Chinada at today's rates our contribution would be 280000 without compounding, or 1.36 mil compounded at 5% over 42years. Max pension is in the 15k range. It is a ripoff even if you never earn max or the number of working years is shortened. Most dumbasses cannot be convinced they are being ripped off. If you don't work and don't contribute the taxpayers pay a very similar pension to you called a guaranteed income supplement.
No you are not going to get $37,000 a year dumbass. You get half price assisted suicide.
I am Canadian and I have no idea how your retirement system works but just basic math if you worked 45 years to 67 Assuming no interest on your money you would contribute 13,333 per annum, that sounds very high especially 45 years ago. I dont think this is very accurate
Gubament gotta pay fo dem gibs somehow
If not for taxes, I could “retire” at 55. Then I could determine how I want to live my life. Woodworking, gardening, etc. “everything good is already in each of us”. The only reason we aren’t already living in utopia is?
It's a little bit misleading. The payments into social security are not lump sum. They're made incrementally from the moment you start working until you retire, as a part of the tax you pay.
This assumes that the investment is lump sum, and is paying out for that lump sum.
So while the social security system as it exists now is still a poor investment, this tweet is a poor example as to why.
How else will the US pay for illegal immigrants?
It is incredibly easy to figure this out for yourself, on your own.
Register with the social security administration: https://www.ssa.gov It'll take 5 minutes.
Then you can see how much you've paid in over the years and using your own ideas for how you would have invested the money had it been in your pocket, you can figure out how badly you've been screwed.
Note that there have been limits in place for decades over how much income gets taxed by SSA. It used to be mid 80k but steadily rose from there.
I just now tried to log in to my own account but the system is...hilariously...down!!!
In any case, it's easy for anyone to do and I recommend -- do it!
I'd have bought Bitcoin. I'd be a millionaire.
Social securiry is just welfare for the elderly, it isnt actually your money being set aside for you. They only sold it to us that way.
It definitely was intended as a social safety net, not as your retirement plan. Of course, they take the money you could have saved for retirement and give it to low- or no- income people now while flooding the country with more people that (net) won't contribute towards solvency.
I'm a retard but this is retarded even for me.
The 5% return is higher than what most pension funds do, because the risk profile is very low.
True
social security is social-ism
yeah, that's what happens.
$600k?