Next month I will receive my first ss check for $1800 (at 62). When I plug that amount into Immediate Annuities it says I would need a sum of ~ $331k. On my last ss statement it says that taxes paid by me and employer over 44 year history was $250k. Over 44 years that would indicate a rate of return of 1% or less? If I take the $250k and spread it evenly over 44 years ($470/mo) at 4% I would accumulate $661k, or about double the $331k.
Is that difference the expense of the other ss benefits - disablility, ssi, survivor benefits? Or just faulty math on my part?
Is that difference the expense of the other ss benefits - disablility, ssi, survivor benefits? Or just faulty math on my part?