Social Security Calculator

Chuck Schumer, the senator from New York, put up a fancy Social Security benefits calculator on his website. This calculator shows how much today’s workers will likely receive for their annual benefits if Bush’s proposed plan is pushed through. Here’s a hint: your combined benefit of both the government and private portion will be lower than what has been promised under the current system. Be sure to see the calculator’s assumptions which seem reasonable to me. Don’t forget that the message is coming from a partial point of view; Chuck is against Bush’s proposal. But that fact shouldn’t affect the numbers… or does it?

Rating: 0.0/5 (0 votes cast)

Email this article

About the Author

Flexo, the owner and creator of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter.

If you enjoyed this article, get the free RSS feed or get daily emails.

Join the free Consumerism Commentary newsletter. Enter your email address here to receive weekly emails with behind-the-scenes information, exclusive giveaways, and money tips.

Related Entries on Consumerism Commentary

Individual Social Security Accounts: I still need to do more research before I decide...
Economic Stimulus Rebate Schedule: When You’ll Receive Your Rebate: The IRS has posted a schedule indicating when tax payers,...
1,500 Economic Stimulus Payments Sent To Wrong Accounts: The 2008 economic stimulus package is a story that won't...
Weekend Blog Roundup: Pennies, Budgets, and Social Security: Here are some articles I've enjoyed reading this past week. How...
Don’t Make These Mistakes, Part 2: Yesterday, I wrote about three mistakes in retirement planning an...

JLP

That must really say something for the current Social Security system if they can beat the return of the stock market.

I think 3% above inflation is a little too conservative. Of course, if you don't like the idea in the first place, you have to adjust the numbers to make them say what you want them to say. I just don't see how over a 30-40 year career, a person would get less than 10% or so in equities.

I'm a biased believer in the markets. I know with great conviction that the market (over the long-term) is going to give me a better return than the social security system will.

JLP

http://AllThingsFinancial.blogspot.com

Robert: They need to combine the best of both worlds. Mint is great about tracking simple checking and savings accounts, but it doesn't have the... on Quicken Online Users Will Be Migrated to Mint

mary ann: we are building a beach house on the land we have owned for 16 yrs.it will be complete around the end of nov/beginning of... on How to Claim the $8,000 Home Buyer Tax Credit of 2009

Valerie: I don't know why Flexo expects changes to be better after the Mint takeover. Mint got itself going with younger users who had never... on Quicken Online Users Will Be Migrated to Mint

Flexo: You are quite right, it looks like they're closing off the bank to new applicants. I'll update the post. on Opening an SFGI Direct Savings Account Earning 2.25% APY (Updated)