Skull Pilot
Diamond Member
- Nov 17, 2007
- 45,446
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Nonsense.
First of all, there is no actual money in the cynically dubbed "trust fund". In fact, if you and I ran such a "trust fund" out in the real world, we'd be bunking with Bernie Madoff.
Secondly, the demographic train wreck on the horizon won't be sustainable, viz. enough taxpayers to keep the program afloat.
Social Security would work if each individual held his money in a privately owned account.
15% of your earnings are forked over to SS so the government can use it to fund the biggest Ponzi scheme in history.
If we all put 15% of our earnings that the government takes now plus another 20% (which is the minimum you should be saving for retirement anyway) How much money do you think you'd have after 40-45 years of working?
If we use the median income in the US of about 46K and assume no pay increases over a career.
35% of 46K is 16,100
Even at a conservative investment earning 5% over 45 years a monthly deposit of 1342 would grow to
2,717,462
Get 8% and end up with
7,073,194
But that would suck right. better to let the fucking government take and waste 15% of your money and get a measly couple thousand a month than to keep it yourself and actually get wealthy.