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But you only get to collect social security to the extent you paid into the system Medicare and social security payout more in benefits than you paid in: http:
by rgbrenner 9y ago
But you only get to collect social security to the extent you paid into the system
Medicare and social security payout more in benefits than you paid in:
http://www.politifact.com/truth-o-meter/article/2013/feb/01/medicare-and-social-security-what-you-paid-what-yo/ http://www.politifact.com/truth-o-meter/article/2013/feb/01/...
- gnicholas 9y agoI was trying to avoid saying "you only get benefits if you paid in", which oversimplifies the situation. If someone paid in for decades, they'll get more SS than if they paid in for 2 years. Basically, I meant "to the extent" to mean that it scales with participation. Thanks for the link — interesting details.
- antisthenes 9y ago*If you live long enough, which isn't looking to be the case for the bottom quartile, considering the retirement age will be raised to 67 before our cohort will start retiring.