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Brown Cafe UPS Forum
UPS Retirement Topics
Social Security Wants You To Wait
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<blockquote data-quote="realbrown1" data-source="post: 1311782" data-attributes="member: 46221"><p>How about giving different options for the people. </p><p></p><p>Looking at my last on-line statement I've paid in over $81k and my employers have paid over $85k for a total of over $166k. And I am only 46 with almost 16 more years to work.</p><p></p><p>By the time I am 62, those numbers most likely will add up to $350k or more with out interest. Could you imagine what the compounded interest would be on that amount of investment.</p><p></p><p>So I say, either let us direct that money into another type of retirement account like a 401k and make the investment decisions for ourselves, or let people stick with the traditional social security for those that don't want to bother.</p></blockquote><p></p>
[QUOTE="realbrown1, post: 1311782, member: 46221"] How about giving different options for the people. Looking at my last on-line statement I've paid in over $81k and my employers have paid over $85k for a total of over $166k. And I am only 46 with almost 16 more years to work. By the time I am 62, those numbers most likely will add up to $350k or more with out interest. Could you imagine what the compounded interest would be on that amount of investment. So I say, either let us direct that money into another type of retirement account like a 401k and make the investment decisions for ourselves, or let people stick with the traditional social security for those that don't want to bother. [/QUOTE]
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