27 Mar 2025 1:53 pm
Except for these poor bastards:LowIQTrash » 26 Mar 2025, 1:17 pm » wrote: ↑ The majority of ppl take more out of SS than what they contributed. So while there is truth to your statement (“there is no SS fund”), I don’t find it as problematic as you do.
FOS also doesn’t seem to care about this issue even though he will probably pay way more into the system than he gets out. (Then again he said many times money is a minor priority, which is the appropos mindset)
——————-
Let me also address an issue by the financially illiterate crowd (not you per se, just the masses):
The “if I just put my money into the stock market and let it grow instead of paying taxes for SS, I’d have way more” argument also doesn’t apply for the next 10-15 years when the SP 500 will look like the Japanese index from 1989-2009 and we revisit 1000-1500 price levels.
Enjoy the 80 - 85% decline over many years.
People will be BEGGING for Social Security back once their 401Ks are completely eviscerated, even if your looney suggestion is somehow implemented.
@Cannonpointer
While it's difficult to pinpoint an exact number, studies show that a significant portion of people die before reaching the full retirement age, and some die before even reaching the age to receive Social Security benefits at 62. Roughly 8% of recent entrants to the labor force will die before reaching full retirement age, and many more will become disabled.
The Markets are going to be volatile for awhile, we bumped our foreign equity position from 20% to 30%.