Question
For a typical 45-year-old US worker, what is the approximate capital value of their Social Security benefits? That is, if Social Security were listed as
For a typical 45-year-old US worker, what is the approximate capital value of their Social Security benefits? That is, if Social Security were listed as an asset on their balance sheet, how much should it be listed for, at age 45? What is the present value of their FICA taxes? FICA taxes consist of a 12.4% tax for Social Security (6.2% paid by the employee and 6.2% paid by the employer) and a 2.9% tax for Medicare (1.45% paid by the employee and 1.45% paid by the employer) on wages up to the taxable maximum. Make any assumptions necessary for your calculations. please provide a screenshot of your calculations using excel
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