Social Security vs. Saving
What if 50 years of saving 10% still loses to Social Security if you live long? I ran the math for a reader who worked 20 to 70. A 5% IRA hits about $1,055,178 and could buy a joint annuity near $4,873 monthly, taxed. Social Security at 70 pays ~$3,878, COLA and tax preferred. Breakeven is around age 82, so my IRA vs Social Security retirement income comparison helps you decide if you should rely