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In order to pay $1M into social security you would need to make the maximum contribution for 45 years. In order to pay $1M into social security and see less th
by gtop3 4y ago
In order to pay $1M into social security you would need to make the maximum contribution for 45 years.
In order to pay $1M into social security and see less than $200k back you would need to die less than three years after starting to collect social security (assuming you don't retire early, which you probably didn't with a 45 year long career).
This is an extreme example.
- gymbeaux 4y agoYou can't collect SS until you are 65, 65 - 45 = 20, most people are employed by 20. There are probably more people who pay more into SS than they get back, than you think, whether they make it to age 68 or not. Many Americans don't even make it to 65 because they had a heart attack at 58... So yes I would agree that the odds of you not making it to 68 but making it to 65, are low, but even at 68 you're still way way underwater vs what you paid in over your career.