Social Security and payout

[Oerets]

When listening to NPR an bit ago they made a statement about the average person will receive roughly 3 times the amount they pay in back on benefits.

At first blush on would think this is an unfair system of payout. But it dawned on me that there must be a higher percentage of people who never live long enough to claim the first dollar. The retirement plan was never a savings account but old age insurance policy.

So one hopes they will be able to live long enough to make it eligibility but if not that is part of the gamble.


Barney