Don’t get me wrong I love POTUS and what he does for the American people.
Not to be a sour puss about this but not paying into SS how will that affect current retirees and none too distance future retirees? I believe it takes 3:1 to pay a retiree? I’m all for giving people help, and workers especially but what would the ramifications be 10 years down the road?
EO for forbearance on student loans is good but no freebies.
Hopefully mortgage companies will continue to work with homeowners who are unemployed.
I read some article a few years ago where s an economist calculated everything he would contribute to SS up to retirement age and based on the benefits he would receive, concluded that he would get just short if $500,000.
Then he calculated his contributions with the standard 401k return based on the last few decades, I think it was 10%, and concluded he would have over $3 million.
I literally did this same exact calculation independently when I was 18. Hence why I've gone out of my way to structure my life to pay as little tax as legally possible.
Don’t get me wrong I love POTUS and what he does for the American people.
Not to be a sour puss about this but not paying into SS how will that affect current retirees and none too distance future retirees? I believe it takes 3:1 to pay a retiree? I’m all for giving people help, and workers especially but what would the ramifications be 10 years down the road? EO for forbearance on student loans is good but no freebies. Hopefully mortgage companies will continue to work with homeowners who are unemployed.
No clue but personally if I could opt out and stop paying into it I would. Would rather use my own savings vehicles.
Agreed.
I read some article a few years ago where s an economist calculated everything he would contribute to SS up to retirement age and based on the benefits he would receive, concluded that he would get just short if $500,000.
Then he calculated his contributions with the standard 401k return based on the last few decades, I think it was 10%, and concluded he would have over $3 million.
Social security is theft.
I literally did this same exact calculation independently when I was 18. Hence why I've gone out of my way to structure my life to pay as little tax as legally possible.