[Daffynition]

-0-

[DManA]

To save money, the Social Security Administration stopped mailing annual Social Security statements to workers this year.

If I want fiction I’ll go to Barns and Nobles and buy a book.

[nascarnation]

The “predict” part works if the system continues to work.
The “unpredictable” part is what % of the promise ever gets paid and how much “means testing” there will be.

As a Rich Republican, I’m figuring on a massive haircut.

[pogo101]

My version:

If you are either
1. UNDER FIFTY, and/or
2. HAVE RESPONSIBLY SAVED FOR RETIREMENT,

then

Take any number. Subtract that number from itself. The result is your anticipated Social Security payout.

[rolling_stone]

To save money, the Social Security Administration stopped mailing checks and statements as they are flat broke. Obama has a plan to get Madoff out of jail and resurrect the SS “system” until he is reelected

[sten]

let me see if i got this right...

i work from 21 to 66.
i must make over $106k each year.
being taxed roughly 15% of my income (7.5% + match)
which would be about $15k/yr ‘contribution’
45 years of these ‘contributions’ would get me $2,366/mon or $28k/yr
starting when i’m 66

so... i put in $675,000 over 45 years... and get back $28,000 per year.

the average male *might* make it to 67. 50% won’t.
the percentage making it to 77 would be less then 10%.

therefore, *if* you make it to retirement, you can expect to get at most 10 years of retirement benefits.
or about $280,000 from the $675,000 ‘contribution’

gee, thanks.

meanwhile, public employees get their benefits the day they ‘retire’, some as young as 40. and they will receive these benefits, paid for by American taxpayers, until they pass.

and yes, they also get social security... which would be a pittance in comparison

why the hell are we putting up with the sham? you’d have to be a special kind of stupid (or a public employee) to want this to continue

[Dr.Deth]

[ken21]

bump.

[Boogieman]

Magic Eight Ball sez: Outlook not so good.

[count-your-change]

Step one of financial security in old age is to save enough but to save one must earn enough.

So first, beginning at age 21 earn at least $250,000/yr. and save at least half(or more) of it in investments that always go up 5 to 10%/yr with all earnings reinvested.

This assumes excellent health, steady employment and regular significant pay increases above the rate of inflation.

Do these basic responsible things and at age 67 you won’t need to worry about SS going broke.

“But wait!”, you say, “Not everyone can do all that.”

Right you are so there is an alternative. Inherit a fortune when your father dies.

There it is, folks. Be responsible!