[USS Alaska]

That rant would be on the spot except for one small fact: SS recipients collect far more than they put in. SS is an entitlement program that needs to end.

On the whole that may be true, but I paid in maximum amount since the 60's and did a present value rate of return at ONLY 3% when I retired.

If SS paid me back in a lump sum, I would have collected $3.3 Million dollars, not the piddling couple of thousand I now grovel for from the feds.

I agree it needs to end but for some of us payers, IT IS NOT AN ENTITLEMENT PROGRAM, so get your facts straight; it is some SS recipients collect more than they pay in...

[dinodino]

Try your calculation again, but this time skip the DCF calculation and just sum the payments. The government did not invest your money, nor did they put it in a savings account, so you should just total the payments.

You will see that your present SS payments will quickly exceed the amount you paid. SS is, indeed, an entitlement program.

[elcid1970]

Thank you for that clarification. I retired at 62, my Social Security started. I paid into it for 43 years & my wife says I won’t make it to 82 if I don’t lose some weight. Sounds like Uncle Sam comes out ahead.

Yes, I am indeed now getting my money doled back to me, my money! No guilt there, pardner.