How much money will you get from Social Security when you retire?
And how much money would you make if you had been allowed to invest your
Social Security "contribution" yourself? Use this chart to get an estimated
amount based on the average taxpayer. Look up the year you were born then
read the amounts in each column. Column A shows your projected annual retirement
payments under present Social Security law (assuming the system does not
go broke first, which is a distinct possibility, even a probability).
Column B shows the interest you would be earning on retirement if
you had been allowed to invest your Social Security "contribution" with
a 7% return (the long-term market average). Column C shows the cash value
of the "nest egg" you would have built which is generating that interest.
You would own that nest egg and you could pass it on to your children
as part of your estate [which you can't do with your Social Security "dole"].
[The copy within the square brackets is information and comments we have
added to that which the Heritage Foundation provided with permission to
redistribute. All their figure
What year were you born?
A
What you'll get annually
from Social Security
under present law
B
What you'd be earning
annually if you'd been
allowed to invest your
own money
C
Your nest egg, or
bequest available to your
heirs under your own program
1932
$11,463
$33,475
$478,212
1933
$11,408
$35,074
$501,052
1934
$11,389
$36,786
$525,515
1935
$11,624
$38,255
$546,502
1936
$11,714
$39,733
$567,613
1937
$11,888
$41,295
$589,932
1938
$11,834
$43,009
$614,415
1939
$11,860
$44,816
$640,227
1940
$11,797
$46,527
$664,667
1941
$11,806
$47,988
$685,538
1942
$11,754
$49,474
$706,776
1943
$11,767
$50,944
$727,774
1944
$11,862
$52,059
$743,696
1945
$11,961
$53,245
$760,646
1946
$12,056
$54,484
$778,336
1947
$12,153
$55,551
$793,589
1948
$12,244
$56,538
$807,691
1949
$12,345
$57,754
$825,058
1950
$12,448
$58,712
$838,738
1951
$12,547
$59,836
$854,798
1952
$12,645
$60,500
$864,279
1953
$12,747
$61,099
$872,847
1954
$12,849
$61,516
$878,793
1955
$12,794
$62,516
$878,793
1956
$12,733
$62,661
$895,156
1957
$12,763
$63,339
$904,842
Amounts shown are inflation-adjusted for typical wage earners in each
birth year. Your actual amounts may be higher or lower depending on your
income. Higher volume earners gain significantly more than
amounts shown if Social Security is reformed.
Permission granted to copy and distribute. Source: The Heritage
Foundation