A retiree says he’d have millions if he invested his Social Security in the S&P 500 — here’s what he’s missing Sometimes things are good in theory, but not so much in practice.
If you’ve ever questioned whether Social Security is actually worth it, there’s a few things that you might consider
Imagine Jennifer, whose father, Mason, says that he would have been better off if instead of having to pay into Social Security, he was able to invest that money himself. Must Read Mason took the figures for his lifetime earnings and contributions, using the earnings history available on his my Social Security account, and then calculated what he would have earned if that money had instead been invested in the S&P 500. He found that the total would be in the millions, and that the monthly drawdown amount he could take would be many times what he receives each month in Social Security benefits (1).
If you know someone who thinks the same, while you might not be able to convince them otherwise, here are a few points you could ask them to consider. Social safety net Social Security began in 1935, amid the Great Depression, which was the worst economic crisis in modern U.S. history, with millions of people unemployed (2). The political response to the dire situation was the creation of Social Security.