The Motley Fool Discussion Boards

Previous Page

Politics & Current Events / Retire Early Liberal Edition


Subject:  Re: Fun with Social Security Date:  11/27/2012  3:01 PM
Author:  doubtit Number:  46401 of 138934

Social Security will be a very bad deal for anyone earning over $100K and under age 40.

I prepare a tax return for a young couple
Each earn about $100K
When the current 2% SS tax cerdit expires, they will pay $6200 each and their employers will match the $6200 => for a total of $24800 per year

IMO, their expeced return = $0 .... Why => They will be means tested at age 70+ and will not qualify for social security

I'm self emplyed => If I make $50,000 in 2012, I will get $6 more per month than I would get if I made $0

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us