September 18, 2002
From the desk of Mindles H. Dreck:Truth in Labeling
I received my Social Security "earnings record and estimated benefits" today.
According to their estimates and assumptions, the only way I will get more money out of the system than my employer and I put in is if I retire at 70 and live past 100. Needless to say, I'd have to be Methuselah to get a return that isn't measured in basis points.
Not that most of us didn't know this already, but could we start calling this wealth redistribution instead of a savings or retirement plan? That's an Enronian statement if I ever heard one.
And don't tell me the difference is for the disability and life benefits. I can (and do) get those for much less in the private market.
Posted by Mindles H. Dreck at September 18, 2002 3:54 PM | TrackBack | Technorati inbound links