[FONT="]A few months after I retired, I finished digging up old records (packrat that I am) re Social Security. During my total working years the amount that went into SS “on my behalf” was $193,818.88. I did a spreadsheet using the historical interest rates for plain old savings bonds.
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[FONT="]If, year by year, the money that went to the SS had instead gone into savings bonds and I held those bonds, at my retirement there would have been $406,234.15[/FONT]
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[FONT="]Per the SS statement, supposedly five years later at age 62 I could start to receive $1,692 per month. Of course, if the wife & I die before I turn 62, everything in SS goes “poof”. [/FONT]
[FONT="]$400k, if today put into modest rental real estate, would be 4 units each renting at $750 per month ($3,000/month gross income). Unlike SS, there would be no waiting till 62, on my death there would be no “reduced” spouse benefit, and there WOULD be assets and income for heirs. [/FONT]
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[FONT="]Why have politicians kept this mess ongoing? [/FONT][FONT="]SS has been a federal spending slush fund since it was created, with just enough smoke & mirrors to preclude too many people whining about it. There has NEVER been any reason for the tax to be one cent higher than operating expenses. Every extra cent has been spent in a slush fund for political BS. The “trust fund” has always been a sick joke.[/FONT]