I did a calculation one time, based on what I had paid in, a reasonable interest rate, and what my benefits would be at retirement (from that sheet that SS sends to you every year). I will have used up everything I put in, plus interest, by about age 70. Odds are, I will live another 10 years beyond that, still on the gravy train.
How can any system like that "long endure?" Its been a Ponzi scheme from the start (your money is going to pay present recipients, not into a fund for an eventual annuity for you).
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Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
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