Social Security Is Worth More Than You Think, but Needs Your Help
June 2, 2020 by Jeff Sommer
The stock market has been erratic, real estate is hurting, bond yields are painfully low and dividends are shrinking. In the coronavirus recession, most financial assets have been disturbingly volatile.
But one widely held financial asset, perhaps the most important one for the vast majority of Americans, has performed splendidly: their stake in Social Security.
It hasn’t merely been a solid support for millions of people in a difficult time. While the income-producing power of so many other assets has been sapped by economic weakness and low interest rates, Social Security payments have held steady. And thanks to those rock-bottom interest rates, the market value of the Social Security income stream has soared in a measurable way.
Click HERE to read the full story via The New York Times
Wink’s Note: This article does not make a fair comparison between annuities and Social Security. Our concerns:
1. What is the total amount that an individual has paid into Social Security, in comparison to the annuity premium paid?
2. What kind of annuity payout would have been received, if the individual began contributing to a flexible premium deferred annuity each year, once they began making Social Security payments? What kind of income would they be able to expect?
