What Your Social Security Statement Tells You -- and What It Doesn't
The annual statement can help you estimate your future financial condition, but it makes a bunch of assumptions.
What Your Social Security Statement Tells You -- and What It Doesn't
Overview
"If you observe, people always live forever when there is an annuity to be paid them; and she is very stout and healthy, and hardly forty. An annuity is a very serious business; it comes over and over every year, and there is no getting rid of it.
-- Sense and Sensibility, Jane Austen
Details
If only we could live forever with annuities, because most of us essentially have an annuity to look forward to -- in the form of Social Security. With a regular annuity, you pay a company a significant sum in exchange for regular payments, potentially for the rest of your life. With Social Security, you pay into the system throughout your working life, via taxes, and are promised regular retirement income for the rest of your life.
Source
Originally published at www.fool.com.
