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Lets do a couple of quick calculations:
If Lonsberry was making 50K a year for 35 years, his ss contribution would be $3,000 a year (6% if I remember correctly). Now multiply that by 35 years, that is $105,000. You have got to admit that he didn’t make $50,000 a year, but for this purpose it is a way high estimate.

I looked at my property assessment for just the land, not the buildings, and it is $135,000/acre. I am astounded that he thinks all of his financial woes are caused by social security.

My advise, BOB: You can get anything in life you want, if you really want it and be willing to work for it. Perhaps if you had fewer kids, fewer wives, or a simpler lifestyle you would have what you desired.

Not to jump on Lonsberry, but I know he is LDS, and he is not complaining about the tithe he pays. It is higher than he has paid in SS.

.....Bob

Lets do a couple of quick calculations: If Lonsberry was making 50K a year for 35 years, his ss contribution would be $3,000 a year (6% if I remember correctly). Now multiply that by 35 years, that is $105,000. You have got to admit that he didn’t make $50,000 a year, but for this purpose it is a way high estimate.

You are too financially IGNORANT to be posting anything about financial returns.

Step one--- you have to double the percent because the "matching funds" from your employer is paid by you.

Step two--- the $6,000 from year one at 7% would be worth $69,037 , the $6,000 from year two would be worth $64,383 and so on for 35 years.

That's why it's called PRESENT VALUE.

Value from the first two years alone would be worth over $133,000, so forget about multiplying $3,000 by 35 years and learn what Present Value is.

BOB: You can get anything in life you want, if you really want it and be willing to work for it. Perhaps if you had fewer kids, fewer wives, or a simpler lifestyle you would have what you desired.

Ah yes, the socialist's lament of too extravagant a lifestyle. The author clearly states it's his DESIRE to work hard and he isn't seeking to be extravagant or get handouts. If you can comprehend what he wrote you'll see he doesn't believe that "all of his financial woes are caused by social security." It's right here for you.

We are little more than sharecroppers and slaves in a system of taxation and regulation which dictates everything in our lives – from what we can build on our property to how much water there is in our toilet. The lion's share of our labor and wealth is confiscated for bloated bureaucracies and covetous welfare parasites. We are burdened by a government that has long since stopped being what the Founders envisioned.

So when you're making a list of reasons to hate the government, you better have lots of time and lots of paper.

But today we're going to talk about Social Security.

But you go ahead with your socialist view of restricting the lifestyles of Americans. It's cool. We understand.

Lets do a couple of quick calculations:

I already have and stored it on a flash drive. Here is what I come up with:

Social Security Sucks.

I first paid intro the system in 1968, when I was 15 years old and have paid into it every year since then (except for two years during college). If I had taken the 6% (ignoring the fact the SS is 12%)and invested it annually with a 10% rate of return, right now I would have $350,000. If I retire at age 63 the number is about $1,000,000.

Social security tells me I am going to get $2,200 a month when I retire. That would be about a 2.5% return, just on the 6%.

Anyone who believes Social Security is a good thing does not understand basic economics, or seeks to take advantage of those who do not.

WTF are you talking about. If he started off making 50k a year, putting in 6% (with employee matching) and getting just a 6% rate of return, after 35 years he’d have $712,000, not $105,000. Even just his portion (excluding company match) would be $356k. At a rate of 10%, he’d have nearly 1.9 million (or 950k on his own).