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Do you sincerely believe people earning $14,560/year can afford investing 4% of it? Joel Send a noteboard - 04/03/2013 12:53:30 AM

Your math is appalling regardless; do not quit your day jo—oh... crap.... :P

View original postIf you make $7.00 an hour, working 40 hours a week, 52 weeks a year, that comes out to be $14,560 a year. If you invest 4%, that comes out to $48.00 a month. If you do that for 50 years – this is assuming that you never get a raise - you’d have ~$1,253,000. That would give you ~$8,300 a month after you retire, and when you die, your family still has over a million dollars.

$7/hrX40 hrs/weekX4 weeks/monthX0.04=$44.80/month. Still closer than the other figures you cited: $44.80/monthX12 months/yearX50 years=26,880=/=1,253,000. Saving every penny of a $14,560 annual income (which is ridiculous; it is below the federal poverty level for a family of just 2) only gets to $728,000. Maybe you meant some kind of investment with a 4% rate of return, but I honestly have no idea how you got to the number you did; 44.8/month compounded annually at 4% only reaches $85,356.78 in 50 years; compounded MONTHLY the first month ALONE reaches about 1/3 of the current SS trust fund by then.


View original postSocial Security’s monthly benefit for the same individual (via their online calculator) is $664. However, they were taking 15% (7.5% from the individual and 7.5% from the employer) of his income; almost 4 times as much money. With Social Security, when you die, you leave nothing but Social Security’s wonderfully generous $255 death benefit (payable only once per family), and unless you were fortunate enough to die on the first day of the month, someone has to reimburse the government for your last $644 check (no prorating over the month, even if you died on the last day) in full.

First of all, 7.5% of an individuals income plus the same from their employer is NOT taking 15% from an individual. Further, saving 4%/month of $14,560/year is STILL only $26,880. At $664/month, SS surpasses that in just 4.5 years even if we ignore the death benefit.

Your first sign of trouble should have been concluding someone earning less than federal poverty level can retire a millionaire. :shocked2:


View original postThe math is “..so simple even a caveman can do it.”

Then maybe you should call one. ;)
View original postSocial (in)Security is a complete rip-off, and there can be no debate about it; facts are facts.

Social security costs you 4 times as much, and returns about 1/12th the money.


Please tell me you are a marketer, not an actuary; I NEED that to be true. (8
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This message last edited by Joel on 04/03/2013 at 04:10:38 AM
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I really think you terribly misread what I said *NM* - 02/03/2013 06:59:56 AM 433 Views
Yes he did. He has very poor reading comprehension skills. *NM* - 03/03/2013 01:07:59 AM 459 Views
I really do not think I did. - 04/03/2013 01:43:02 AM 866 Views
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Your attacks on republican ideals would have more credit if you understood them - 02/03/2013 04:27:34 AM 808 Views
aH yes the great liberal investmetn/retirement plan that offers me a NEGATIGVE rate of return... - 02/03/2013 11:51:50 AM 723 Views
Do you sincerely believe people earning $14,560/year can afford investing 4% of it? - 04/03/2013 12:53:30 AM 884 Views
*sigh* - 04/03/2013 03:43:08 AM 716 Views
I tried it with compound interest; $44.80/month at 4% for 50 years still does not get to $1.25 mill. - 04/03/2013 04:24:51 AM 797 Views
Here are some clues. - 04/03/2013 04:37:39 AM 662 Views
It is math, not the Riddle of the Sphinx: EIther it adds up or does not. - 04/03/2013 05:02:39 AM 814 Views
Math is simple - Either you know how to calculate it or you don't - 04/03/2013 11:55:24 AM 896 Views
Indeed. - 11/03/2013 09:53:59 PM 798 Views
Re: Indeed. - 13/03/2013 05:00:10 PM 981 Views
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do *YOU* know what "living in poverty" means? - 05/03/2013 05:49:14 PM 810 Views
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how about respond to a post with logic and civility instead of being a troll for once? - 05/03/2013 11:03:00 PM 871 Views
All I have used is civility and logic, or least as much civility as was warrented. - 06/03/2013 04:28:04 AM 822 Views
yeah, it's my fault for stooping to your level.... - 08/03/2013 07:22:24 PM 860 Views
Re: yeah, it's my fault for stooping to your level.... - 10/03/2013 01:42:26 PM 733 Views
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No loss. - 13/03/2013 04:37:41 PM 673 Views
"Rah! Rah! Rah!" Can we please cut out all this blather and bile? - 05/03/2013 11:53:41 PM 751 Views
spoken like a true enemy of the state! - 06/03/2013 12:54:38 AM 718 Views
Re: spoken like a true enemy of the state! - 08/03/2013 03:04:37 PM 777 Views
I was not trolling, but clarifying. - 11/03/2013 09:53:48 PM 800 Views

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