3 years ago

I wrote a better retirement version that runs off dividends,
a once-only cost, the government pays out the start-up amount,
(60 Billion per 820,000 people 0-60, then retirement is paid out as 1875 each month)
It's perpetual & the 60 Billion retirement cost recycles. When each person dies, their given savings goes to pays for the newborns. A Never ending retirement scheme.

The new merged version is less costly, but less gov income also.

The Old Style version, a Superior Version & a Merged Version
of retirement income (social security) :
https://docs.google.com/spreadsheets/d/1-dn7zWllkgBBnjIy-cD64VmQqezXCpQU/edit?usp=sharing&ouid=105677774979635688715&rtpof=true&sd=true

Dividends Retirement-Lifestyle system: 8% int. (the sheet above explains it easily)
Approx. $303,800 for dividends per person,
per lifetime saved into system is a far better approach
than replicating the current US version that runs out.
the up to $303,800 paid into for each is half that of the current SS system,
which requires $400,000 to each paid out, every 20 yrs.

The dividends compound over the yrs.
& the people can retire earlier & live as long as they want without money stress.

Cost per 820,000 0-60 age group (82% of population of 1M people) = 60 Billion dollars
= They Retire @ 60 yrs = $1875 paid out monthly
Starts with a savings of $3,000 each per newborn..
That money compounds to $303,800 after 60 yrs.
Savings accrues for persons older than 0 & younger than 60, compounded for their yr amount.

so, ie., all the 40 yr olds when the system starts, each receive 65,300 for their retirement fund, for it to compound for the next 20 yrs, for it to become the $303,800.

& when each retired person dies, the accrued amount goes towards paying into the savings for the newborn people (approx. 101 newbies), which also covers inflation.
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In this dividend system, another cool thing is,
aside from the initial cost paid, it pays for generations and generations of retirements, into eternity. So, it's like old money that recycles itself, & never has to be earned again.

+ workers do not have to work to save & pay for their retirement, unless they wanted extra income over $1875. & businesses do not have to allocate for it, (which has been costly & time consuming).

Each infant is supplied $3,000 towards their retirement fund starting at birth
& that $3,000 is kept & compounded in savings for their retirement at age of 60.
Older ages thru to 60, are supplied with their amounts: ie., 40 yrs= 65,000

Curing elderly homelessness, & remove the need for government food & housing assistance programs. The Social Security (Retirement) department itself would be vastly reduced, as it's a set amount, that automatically begins at 60. Therefore tax burdens are hugely reduced.

done.
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Therese Vaux de la Fontaine
La Reine de France
www.queen-of-france.com

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