Interesting website. http://www.heritage.org/research/features/socialsecurity/welcome.asp And before I get blasted, The Heritage Foundation is a "conservative think tank that publishes research on domestic, economic, foreign and defense policy." I still say that the PRA plan put forth by Bush is useless in that most lower-income families, the very people who most need additional retirement savings are screwed, but it's interesting to see the exact nos. for my situation.
Total Monthly Retirement Benefit = Monthly Personal Account Payment from Annuity Bought with All of PRA + Government-Paid Monthly Benefit $4,630 $2,192 $2,438 Compared with Monthly Benefit under Today's Social Security if Congress Does Nothing + $990 Sounds good to me.
This calculator shows the beauty of Social Security. Your annual income has VERY little effect on your payout. How charitable. What better time for me to suffer the lowest common denominator effect than AFTER a lifetime of hard work and success. SS is robbery, plain and simple.
