I only did the numbers for my own income, and I lose a lot on social security. Adjusted for present value, I’d still lose even if I lived to age 100.
Yes, you probably are, because you are a hardworking conservative!
I started looking into it because my husband was adamant he’d work until 67 to ‘max out his Social Security.’ I found out he’s only maxing out his payments in, not what he receives! Those that work the hardest and pay the most in get the least return on their dollar.
So I started looking at what l’d get and it made no sense. I only worked 1/3 of the number of years he did, and made about the same amount he did for those first years - but would get 1/2 of his SS payment. So for working 3 times as long and paying in much more in those latter years due to promotions, he only netted a 100% increase over my measly contribution.
So I looked at the real calculations to get the story, not just the online calculators. That minimum payment showed up. AND one spouse is also eligible for half of their spouse’s payment - even if they never paid in a penny. Those two giveaways affect a lot of people!
Sorry to make you madder about the unfairness of SS on such a beautiful day! This, along with an unethical boss and a job dealing with the fascism if big government, convinced hubby to go Galt.
Looks like we’re meeting in different threads!
Sorry to sound like I’m lecturing you. We pretty much agree. I’ve just spent a lot of time looking at the calculations of SS and Obamacare- maybe to get myself even more irate, LOL! So I like to pass along what
l’ve discovered because the truth is even worse than I thought.
Oops, sorry, I thought we were chatting on another thread too.