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Determining the “Best Deal” from Social Security–The Actuaries Weigh-In
On most purchases, a clear objective is to get your “money’s worth” out of the cash you put into the transaction. So, how does this objective comport with the tax you pay into Social Security throughout your participation in the American workforce? That’s a tricky question and one that requires extensive financial and demographic analyses and a whole lot of data to reach a conclusion. That’s what actuaries do when they study the life tables and household compositions and assess how various combinations fare in terms of benefits received. And studies like this can produce some interesting results, as explained in a post today by Scott Burns on the Longview News-Journal’s Business page. This type of information goes a long way to shaping policy changes for Social Security, so a review of this article (which you can access here), can be helpful in assessing recommendations for change.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.