Thanks for coming! I plan to post a lot of interesting articles and comment on a wide range of things-- from political to religious, from private to public, from formal writing on public policy to snippets on random observations.
That's the expected value of what they'll receive in transfer payments from taxpayers over their lifetimes. Of course, they "contributed" a lot of that-- in paying for previous retirees.
posted by Eric Schansberg @ 8:31 AM
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First and foremost, I am saved by God's grace as manifested most clearly through the atoning death of Jesus Christ-- and thus, adopted into His family. As a result, I increasingly seek to extend His grace to others in my daily life. On the home front, I am a husband and father to four young men (two by adoption and two the more conventional way). Professionally, I am an economist who loves to teach and is active in public policy circles. Vocationally, I am an active writer and the author of three books (one on the book of Joshua; two on public policy-- one secular, one Christian). Finally, I am the co-author of a 21-month discipleship curriculum, Thoroughly Equipped (and a lighter 36-week version), for developing competent lay-leaders in the Church. Related to that work, Kurt and I have two books, Enough Horses in the Barn and Roll Up Your Sleeves.
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That's informative and inspiring!
Thanks for sharing, I enjoyed the visit. :)
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If one is fortunate enough to earn 5 percent on $1-million, they would have a residual annual income of $50,000. Assume they pay capital gains tax, they would keep $42,500 per year; not a huge sum by today's standards. Factor in inflation and $1-million may not be sufficient for retirement.
The Social Security scam is, IMHO, when the government takes the funds by force.
Had the government given me $100,000 for retirement in 1971 (age 18) with the stipulation the fund had to be held in trust in an S&P index fund until age 65, my retirement fund would now be worth $1.34+ million. And I have seven more years to age 65.
Of course the government doesn't think that way; nor should they.
I would be content if the gov't would simply return my SS contributions plus inflation for me to invest on my own.
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