mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The author digs into his own SS account and discovers that it's a darn good deal after all. Prior to receiving my SS, I dug into SS as much as I could and came away with an understanding that SS was an excellent plan for the beneficiaries (not necessarily for the taxpayers) because it was so flexible.
I agree with much of what the author says in the piece.
Social Security Is The Best "Annuity" Deal, Say Experts
I agree with much of what the author says in the piece.
By the time he retires, Klein estimates, he and his employer will have paid $314,000 to $381,000 into Social Security, depending on when he retires, far less than the cost of a deferred income annuity that would match the Social Security benefits.
Part of the reason Social Security is such a good deal, Klein explains, is the fact that the benefits go up 8 percent a year for each year the recipient delays receiving benefits after full retirement age until age 70.
To keep the calculations simple, Klein says he did not include his wife’s spousal Social Security benefits. But in fact, she will be entitled to half of the amount he is receiving when she reaches her full retirement age and she will receive either his full benefit amount or hers, whichever is higher, after he dies.
Social Security Is The Best "Annuity" Deal, Say Experts