George Kamel argues paying $115,000 into Social Security over a career costs workers roughly $2 million in foregone investment returns at a 10% return.
The 2026 Trustees Report moved Social Security's projected depletion date to 2032, forecasting a 22% benefit cut averaging $500 per month for retirees.
Kamel's comparison ignores that Social Security includes inflation adjustments, disability coverage, and lifetime income that a brokerage account cannot replicate.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
Personal finance personality George Kamel recently ran the numbers on Social Security and reached a conclusion designed to grab attention: "all those years of paying into Social Security cost you about $2 million". If you are at or near retirement, that framing is either clarifying or terrifying. The stakes are real. Millions of households will lean on this program for most of their retirement income, and the 2026 Trustees Reports have changed the timeline everyone is working with.
#Social #trustees #million
The 2026 Trustees Report moved Social Security's projected depletion date to 2032, forecasting a 22% benefit cut averaging $500 per month for retirees.
Kamel's comparison ignores that Social Security includes inflation adjustments, disability coverage, and lifetime income that a brokerage account cannot replicate.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
Personal finance personality George Kamel recently ran the numbers on Social Security and reached a conclusion designed to grab attention: "all those years of paying into Social Security cost you about $2 million". If you are at or near retirement, that framing is either clarifying or terrifying. The stakes are real. Millions of households will lean on this program for most of their retirement income, and the 2026 Trustees Reports have changed the timeline everyone is working with.
#Social #trustees #million
2 months ago
