The actuaries at Social Security have done “money’s worth” studies for a long time. They matched the standard U.S. life table with different household...
FILE - A canning jar filled with money sits on a shelf in East Derry, N.H., June 15, 2018. It received little attention at the time. Who, after all, cared about what some government actuaries researched in the weeks before the election?, we know who really gets the best deal from Social Security — who gets their “money’s worth,” and then some.The actuaries at Social Security have done “money’s worth” studies for a long time. They matched the standard U.S.
With figures like that it isn’t a great leap to argue disadvantaged groups in our society are subsidizing the benefits of the prosperous.The October note matches life expectancy and, more important, disability levels, by differences in career earnings level. That means data-based measurements, not hyperbolic words.
The prize for greatest money’s worth, however, isn’t determined by disability and life expectancy alone. It also changes with the structure of households. It turns out that single men do slightly worse than single women and two earner households are somewhere in between. They get a bit more than they paid in.But the “winner take all” prize goes to median income households with two people and one earner.
Call it the “Leave It to Beaver Prize,” in honor of Ward and June Cleaver, model parents in the proverbial “good old days” when one paycheck could support a family.Scott Burns is the creator of Couch Potato investing and a longtime personal finance columnist for The Dallas Morning News.
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