I have NO idea what you make.......but I'm not too sure you would be "just fine" if they gave all of what you paid BACK. You might be, but I doubt it.Originally Posted by kyfanatic
A quick calc by my feeble mind leaves me significantly, SIGNIFICANTLY short of being able to live to a happy retirement if the gubment just "gave everything back".
for example: Say someone averaged 50,000 a year for 45 years. He would have paid into the system about 150,000...........maybe more maybe less. If he was self employeed this might or might not be close to being correct. If he worked for a corp or small business, or whatever, then the employee would have also kicked in 150,000. that is a smooth 300k. NOT BAD. This doesn't include any interest income or anything else, but we know treasury bonds over that period of time, and bonds that gubment invests our SSI money in generate about 2 or 3 percent. So lets say that 150k DOUBLED in value, which might or might not have happened.
Your contribution and your companies contribution could add up to 600,000. MAN what a NEST EGG...........shitload of money. How long would that last. ASSUMING that you demanded your money back from SSI. So you no longer are eligible for Medicare or Medicaid. One serious illness at say 65 or 70 years old, could easily wipe out 1/2 of that . That leave 300k. At your 50k / year average income, you'd be out of that in 6 years.......
SO.........are yo sure you'd be OK??
Just playing devils advocate........I AGREE, I think I could have managed the monies I've put into the system too.....and if I had an option to opt out today and take my money and RUN......I bet I could invest it over the next 20 years and never need a cent of money from the gubment, and it would DEFINITELY return more than the estimates I get every year........
Later,
Geo
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