Well I won’t argue it isn’t a lie but if you figure what people put into SS plus interest, I doubt highly MOST people get out what they contributed. Heck a good amount of people die without seeing a dime.
That’s not the way the numbers work.
At the end of this process your grandchildren are inevitably left as paupers and slaves.
Everyone always thinks they’ll get one of the remaining chairs in musical chairs.
But eventually there are no chairs left.
My Best Friend from Childhood passed away last October at age 61. His Wife got $255 to Bury him.
He worked continuously since he was 16 Years Old, Fulltime at age 20 and he made pretty good Money the last 30 Years.
His Wife does get his Survivor Benefit, but it isn’t much more than she would have received through her own SS Account since she worked most of her Life in Finance.
She is 65 now and I think her Survivor Benefit is about $150 a Month more than she would have Received on her own.
As an aside. some years back I had our Financial Guy estimate how much Money we would have if all the SS and Medicare Money paid by us and our Employer’s (a misnomer since it all part of Employee Compensation) was Invested in the Market.
The Result? At Age 66 he estimated that I would have built up Investments totaling $2,250,000 and my Wife would have Investments totaling $1,250,000. He said he was being Conservative in his Estimations. No Pie in the Sky Stocks.
So much for that.