Millionaire Retirees
Starting next year…the typical husband and wife who reach age 66 and qualify for Social Security… will begin collecting a combination of cash and health-care entitlement benefits that will total $1 million over their remaining expected lifetime…
Such married couples will begin receiving monthly Social Security checks that will, on average, total about $550,000 after inflation. They will receive health-care services paid for by Medicare that, on average, will total another $450,000 after inflation.
Full article on the flaws in Social Security and Medicare.
You too can become a millionaire. If we can find enough young people to pay, that is.
The average couple gets back three times the benefits from Medicare than they pay into Medicare in taxes.
I want mine.
Bruce, I don’t want to wait until I’m 65 for my million. I want it now. Can you help me out?
I agree with Rusty. I feel a strong time preference for receiving the million today.