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I have not paid SS in 20 years.
There is no penalty if I don't. I just won't get a very big SS check, come time the government says I must retire.
The benefits of being self employed.
If people had the option put their own money pay check by pay check into an annuity - so that it would grow and compound over the years - they would be getting twice the monthly paycheck compared to social security. As it stands now - most people will get less than you put in.
If people had the option put their own money pay check by pay check into an annuity - so that it would grow and compound over the years - they would be getting twice the monthly paycheck compared to social security. As it stands now - most people will get less than you put in.
Not necessarily. It depends upon your timeline. There have been 20 year periods when equities were flat. If that was your investment period, your investment wouldn't have grown at all.
If people had the option put their own money pay check by pay check into an annuity - so that it would grow and compound over the years - they would be getting twice the monthly paycheck compared to social security. As it stands now - most people will get less than you put in.
But, people who do accept company or corporate backed retirement backed benefits usually dump their funds into 401K's which is really a stupid thing to do.
Since there are just mostly part time jobs available now, I doubt anyone can spare anything towards a retirement plan.
Opt out of citizenship. Then you have no obligations that Americans have. That's the trouble with all these people who want to escape any burden. They refuse to LEAVE. Those rich people with their offshore accounts? Go live where your account is! Become foreign.
But, people who do accept company or corporate backed retirement backed benefits usually dump their funds into 401K's which is really a stupid thing to do.
Since there are just mostly part time jobs available now, I doubt anyone can spare anything towards a retirement plan.
Part time or full time.....6% of your gross earnings is forcibly taken from you every paycheck.
Imagine having the freedom to invest that 6% how YOU want?
6% is also taken from your employer.
BTW....YOU cannot touch YOUR money until the government tells you that you can.
If you are single, and die prior to 62, you lose it.
Great plan, huh?
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