Friday, March 20, 2009

Some people are really dumb

Or hate Social Security so much they don't care about their own financial interest:
But the survey also found that 33% of adults over 60 would give up their benefit to be able to opt out now.

To save 6.2% on their taxes for the next few years, they are willing to give up 10+ years of future benefits worth about $12,700 per year (average benefit is currently $1056/month).

I suppose some of them might be terminally ill, but for the vast majority, that is completely irrational.
This survey suggests that 1/3 of our soon-to-retire population has questionable financial judgement. If that isn't an argument FOR mandatory social security, I don't know what is.


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11:08 AM, March 20, 2009  

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