A retiree says he'd have millions if he invested his Social Security in the S&P 500 — here's what he's missing
View original at finance.yahoo.comA retiree says he'd have millions if he invested his Social Security in the S&P 500 — here's what he's missing Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below…
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Without Social Security, almost four in ten older adults would be living below the poverty line.
60% confidenceIf his Social Security contributions had instead been invested in the S&P 500, the total would be in the millions, and his monthly drawdown would be many times greater than his actual Social Security benefit.
60% confidenceThe Social Security Act was designed to give some measure of protection to the average citizen and his family against the loss of a job and against poverty-ridden old age, even if it cannot insure 100% of the population against 100% of life's hazards.
60% confidenceOne-fifth of Social Security beneficiaries receive disability or young survivor benefits, not just retirement benefits.
60% confidenceMason's simple calculation comparing Social Security contributions to S&P 500 returns does not capture the full scope of a life, including disability protection, survivor benefits, and the social safety net function of Social Security.
60% confidenceThe risk of disability or premature death is greater than many people realize. Some 8% of recent entrants to the labor force will die before reaching the full retirement age, and many more will become disabled.
60% confidence