A Mundelein letter to the editor: Why isn't Social Security flourishing?
I just looked over my own numbers. Since my first paycheck in 1974, I have contributed over $400,000 into Social Security. If those contributions were invested at 5% interest annually, through the miracles of compounding I would have over $1.1 million in my account.
I just started drawing on Social Security. The annual benefit is less than $45,000 a year, so my theoretical balance will continue to increase for as long as I live and disappear at my death.Something is terribly wrong with they way this program has been administered during my life time.
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