by the time i hit 65, over $550k will have gone into social security for me.
at just a 5% return, that could’ve grown to around $1.7M… throwing off about $85k a year.
instead, i’m promised roughly $3k/month… about $36k a year.
yeah… make that make sense.
The maximum annual Social Security payroll tax contribution is currently $10,453.20.
If you paid that full amount every year from age 18 until retirement, your maximum Social Security benefit would be about $4,873 per month.
By contrast, if you had invested that same amount annually in a low-cost S&P 500 index fund instead, you could expect roughly $32,583 per month in retirement income.
Social Security is a scam.
Most 25+ pt, 5+ reb, 5+ ast playoff games last 60 years via @bball_ref…
LeBron: 157
LeBron age 30+: 82
LeBron under age 30: 75
Jordan: 73
Bird: 53
Steph: 53
Kobe: 52
I'm doing a modern remake of 'Mrs Doubtfire' where the Daniel character doesn't use any prosthetics or wigs, and just changes his pronouns. Everyone goes along with it except the mother, who protests. She's branded transphobic and Daniel gets custody of the children.
We bring in $5 trillion. We spend $7 trillion. We borrow the difference. The Fed prints money to cover it.
That's inflation. And inflation is making you poorer.