4 ms·
Social Security also averages over 35 years of work as well. It's a decent backup for extra income after 67-70 if you live that long, but it can also be a bene
by justherefortart 8y ago
Social Security also averages over 35 years of work as well.
It's a decent backup for extra income after 67-70 if you live that long, but it can also be a benefit for your spouse.
- Consultant32452 8y agoI think it's a pretty bad backup. It cost me 7.5% of my income for my entire working life and when I die I don't have anything to pass onto my children. If I die before retirement age I get negative 100% return on investment. Let's not forget that the poor and minorities tend to have hard labor jobs so they die early, before they get a decent return. This program has really harmed the ability of the poor to create and pass on generational wealth because it redistributes their wealth to wealthier demographics who live longer lifetimes in retirement.