Karki Meade I need a new thread to talk about Social Security options. Check my math because Im using govt. calculators and I might have done something wrong. First if use simple compound interest based off of the S&P 500 traditional rate of growth as 8 percent. If I start at 20 years old with 100 dollars and contribute $50 a week or 200 a month INSTEAD of paying SOCIAL SECURITY for 45 years when Im 65 I end up with an account valued at $930,806 - almost a million dollars. If Im estimating my life span to be 85 (Optimistic with my life choices) 46,000 a year for my retirement. NOTE : This isnt my retirement PLAN its just a supplemental to my real retirement. BUT if you use the govt. calculator for SS socialsecurity.gov/cgi-bin/benefit6.cgi My Monthly benefit it a whopping $1504.00 vs $3833 if I had the option to invest LESS than I currently pay in SS dollars. PLUS my family could get what I dont spend etc. How come the Federal govt. earns less than 39 percent of what I can in the general market?????
Posted on: Sun, 20 Apr 2014 20:40:07 +0000