Noblesse Oblige

I remember going to the SS office to initiate my social security payments.
The pompous (ignorant) clerk stated that I would use up all the money I'd
paid in between five and ten years. Why she told me this, I don't know,
probably it was on her teleprompter menu. I told her what she said was
nonsense, but saw no need to argue with a nitwit. The calculations below
are not mine, but they check out mathematically (if certain variables are
accepted) and this was why I told the clerk what she was spewing was
nonsense. Furthermore, those LWL's(a.k.a. Left Wing Loons) who rail against
changing SS rules to allow the option for partial investment in markets do
so under the NOBLESSE OBLIGE concept that individuals are not capable of
making their own decisions, but must have the omniscient nobles or
government bureaucrats to do so for them.

"Remember, not only did you contribute to Social Security but your employer
did too. It totaled 15% of your income before taxes. If you averaged only
$30K over your working life, that's close to $220,500. If you calculate the
future value of $4,500 per year (yours & your employer's contribution) at a
simple 5% (less than what the govt . pays on the money that it borrows),
after 49 years of working you'd have $892,919.98. If you took out only 3%
per year, you'd receive $26,787.60 per year and it would last better than 30
years (until you're 95 if you retire at age 65) and that's with no interest
paid on that final amount on deposit! If you bought an annuity and it paid
4% per year, you'd have a lifetime income of $2,976.40 per month.

Earnest
Author of "Skivvy Girl: The Love of a Post WWII Japanese Pleasure Girl"
www.earnestmercerbooks.com