Most people who draw social security get a "return" on their money of less than 1%. For many, the return is actually negative (they put more in than they ever get out.) You also don't have any control over how you get your money out. (You can't for example, take a lump sum to buy a home and avoid financing.)
---- If you could get out of social security - just take the money you've paid in to this point and walk away - and never draw any social security retirement money - would you do it?
2006-11-20 07:41:24 · 4 answers · asked by A_Patriot 2 in Business & Finance ➔ Taxes ➔ United States
In 1936, the federal government published an informational pamphlet on Social Security. It stated:
"…and finally, beginning in 1949, 12 years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay."
http://www.ssa.gov/history/ssn/ssb36.html
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HELL YES !!!
But I guess I'm just too stupid to take care of myself, so politicians will do it for me. Yep, I'm too stupid to save my money properly. Yep, I'm too stupid to buy the proper insurances to protect myself from unforeseen events. Yep, I'm just too stupid.
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2006-11-20 07:56:29 · answer #1 · answered by Zak 5 · 0⤊ 0⤋
IF and that is a big IF i had the knowledge and skills i have now, when i was twenty or so.
Yes in a heartbeat.
As for taking the money paid in so far, No. The amount in as my case goes will be a break even ROI. should i had more money and time available , yes.
most people in relatively good health will out live their actual pay in that is why this is the only legal pryamid scheme available in the USA.
2006-11-20 15:49:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are other facets to Social Security than cannot be overlooked. What happens if a young person gets disabled? There is a benefit they will get from SS for the rest of their life. What if they die and leave young children? SS will pay benefits to help out until the children reach age 18. So, it is more than just retirement benefits.
2006-11-20 15:45:45 · answer #3 · answered by brucenjacobs 4 · 1⤊ 1⤋
the real problem with social security is these people that don't need it gets it and the ones that do cant ,,, its these people that cant bend over and pick up a pen ( bad back) but on the weekend they can roof a house ,,,,,,, when reported they are investigated which can take years in some cases means more money out or illegals that use stolen S.S. numbers to get benefits....
2006-11-20 15:53:33 · answer #4 · answered by just a mommy 4 · 0⤊ 1⤋