A retiree says he'd have millions if he invested his Social Security in the S&P 500 — here's what he's missing

O que extraímos desta fonte

The claims Via News extracted from this document. We point to the source; we don't replace it.

• The 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

• Without Social Security, almost four in ten older adults would be living below the poverty line.

  60% confidence

• If 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% confidence

• One-fifth of Social Security beneficiaries receive disability or young survivor benefits, not just retirement benefits.

  60% confidence

• Mason'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% confidence

• The 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% confidence