“It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that’s close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you’d have more than $1.3+ million dollars saved! This is your personal investment. “
Sorry, I’m not able to calculate the same numbers. Not even close.
Try this saving calculator and post your numbers:
http://www.calcxml.com/calculators/savings-calculator-growth?skn=#calcoutput
Thanks