Then you can explain it to my 95 year old patient that's been retired for thirty years (after being a manual laborer) and now is only living on social security as he has played out all other investments. You explain to him how he would be better off with the money that he sent to social security.
Now.. if the 23 year old dies at 65.. yeah.. he is going to lose money on average.
And here is a funny thing... its because on AVERAGE you lose money on the deal.. why it pays for itself. If we were all making money on the deal,, and all getting back more than we put in.. then it would not run a surplus would it. That's why its insurance, that's why its a safety net.
but the facts are that
Now.. for guys like me.. its probably a losing proposition.. UNLESS I get disabled or a myriad of other things that can happen in ones lifetime.•Social Security provided at least half the income for 65 percent of the aged beneficiaries in 2010