CAN SOMEONE WALK ME THROUGH HOW THIS MAKES SENSE
By the time I retire at 67, I'll have paid roughly $540,000 into Social Security between my contributions and my employer's match.
If that same money had just sat in an index fund averaging 7%, it would be worth about $2.4M. The dividends alone off that would be $168,000 a year.
Instead, the government is projecting I'll get $2,950 a month at 67. That's about $35,400 a year.
Someone explain the gap between those two numbers, because I genuinely don't understand where the rest of it goes.
@BlazerFreeman I'm about ready to unfollow the team and change my email address that I've had on Yahoo since it was created in the 90's. I'm sure it was obvious that Calabro was going to the Sonics when they come back... and we couldn't even keep him as a bridge through the ownership change.
My project manager came into my office this morning to tell me she’s stepping down to become a stay-at-home mom.
She makes $68,000 a year.
Her husband earns $72,000.
They just had their second child, so she called licensed local daycare centers to get quotes for an infant and a toddler.
Average cost: $2,650 a month. That’s $31,800 every year straight out of their post-tax income.
After federal taxes, state taxes, and healthcare deductions, her take-home pay was roughly $3,700 a month.
After paying $2,650 for daycare, she was working 40 hours a week to net $1,050 a month…..or about $6.50 an hour.
She looked at me and said: "I’m literally spending 160 hours a month away from my kids just to clear $250 a week after childcare costs."
We didn't just build an expensive economy.
We built a system where holding down a mid-class job as a second earner costs more than staying home.
@RedditCFB 😂. They need to get it done before he or Penny pass- not because his power, influence, and support of the university will expire- but because he deserves to see it.
Liev Schreiber: "Lot of people think that I'm involved in Ukraine because I have Ukrainian grandparents, but I'm involved in Ukraine because I'm American, and I think that the cause of democracy is probably clearer here than anywhere else in the world right now, at least to me."