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re: Now Social Security could be depleted this decade
Posted on 4/23/20 at 10:31 am to BigPerm30
Posted on 4/23/20 at 10:31 am to BigPerm30
quote:The sad part is so many americans would totally set for retirement if they were allowed to keep their own money.
I’m ok with that. Just stop deducting from my paycheck. Let me invest my own fricking money.
I did the math in my early 30s and realized I'd already paid in more than I'd ever get out at even horrible ROI.
The real sad thing is all that capital is going to government. If it were all (or mostly) invested in the capital markets we'd have more capital available for economic expansion and wealth building to workers. Hey millennials -- wanna know why your opportunities are limited?
1
Posted on 4/23/20 at 10:38 am to Taxing Authority
quote:
I did the math in my early 30s and realized I'd already paid in more than I'd ever get out at even horrible ROI.
I've started a little experiment where in retirement I invest my SS into the stock market. It's a continuation of the way I invested through my working life. I figure if I'm lucky I will live about 25 years. And the plan is to grow my SS pot with the market. Kind of a bit like what GW Bush wanted us to consider years ago. Now I've taken a hit from the market downturn but my current dollar cost average investing is buying stock at really low prices. If I don't need the money for long term care when I get senile, I may give it to charity in the end.
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