US Question. Will the people that have to wait until 70 to get Social Security ever get what they paid in to it back out before they die since men's life expectancy is only 77 now?
I don't think there is an earlier option for less money anymore but could be wrong.
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At this point I'm just assuming that by the time I'm "retirement age" there won't be any social security anymore, and I'll just have to keep working until the day I either drop dead or win the lottery
Even if social security was still paying out it’s not like you could retire on it anyway. You need a lot more.
Start an IRA and put a few bucks a month in to buy shares of a mutual fund. Every penny you can invest in retirement will pay off when you do retire, and the sooner you can start, the better.
No average year of IRA return will beat the 6.8% interest or more that a lot of us are paying on student loans debt.
Literally the old people stealing the wealth of future generations
Before that you had to work until you died or couldn't physically do it any more and starved.
Grateful we aren’t at that point again, yet.
Over the lifetime of the investment account, it should outperform the interest you're paying. You don't want to track your retirement investments from year to year since the market constantly fluctuates, but it'll still trend up 6-9%.
I'll certainly drop before I am able to retire.