Or even people with several hundred thousand dollars and their home paid off?
I get that SS is supposed to be “fair”. But for example, my father worked his whole life but retired with 0 savings whereas my mom inherited a bunch of money and had a larger salary and is a millionaire basically. But what is wild is she gets triple what my dad gets in SS because she made more than him.
I know the argument is that SS is not welfare. It is a pay in pay out kind of system etc etc. but it really makes no sense that rich people who probably don’t need SS get the most.
Ill admit that just because my mom is rich doesn’t mean she will stay rich. Who knows what could happen and so I get that SS is meant to serve as a blanket. But it is just incredibly strange that 10s of millions of millionaires get SS.
Given that the SS system is expected to hit a roadblock in 2030 i figured this is semi relevant to the stock market