Millennials and RVs

jplante4 wrote:

I've been getting SS withheld since 1968 and during a few of those years I maxed out the yearly amount. Since 1968 I've contributed $106,000 and my employers another $113,000. I get 2300 a month from SSA. Just the raw money with no investment (as if I had stuffed that into a mattress) would last me just under 8 years.

You are on to something here, though it's more realistic to figure just your own contribution which puts you closer to four years. I doubt many of us believe our employers would pay us more if they didn't pay FICA tax.;) Anyway, historically folks generally have received waaay more back than they paid in, even considering that they may have been able to successfully invest that money, certainly not a given. Also, this doesn't include the "insurance" value of the survivor and disability programs. This may not be the case for future generations but definitely is true for we Boomers. It's a myth that has persisted, probably because a lot of us lack math skills. Fortunately an easy Google can put us on the right track, give us one less thing to be angry about!