Means testing against your IRA/401(k) balances are in the cards. Congratulations for saving for your retirement instead of spending it on hard assets, i.e., something where more effort than a Power Shell script is needed to erase your wealth.
They’ve been treating Social Security taxes as a general revenue source rot the government. The program ran a surplus for decades, but they spent the money instead of saving it in a Social Security trust account.
I think you are correct re: means testing. I believe that is already done for Medicare.
I will add...I disagree with it. If a person, no matter how wealthy, pays into SS...they are entitled to the benefit. Otherwise...it is just more wealth distribution.
Congratulations for saving for your retirement instead of spending it on hard assets, i.e., something where more effort than a Power Shell script is needed to erase your wealth.
And suddenly we see why government employees will fight to the death for their pensions: they don't participate in Social Security.
But they'll be more than happy to elect politicians who will means-test SS.
Means testing against your IRA/401(k) balances are in the cards. Congratulations for saving for your retirement instead of spending it on hard assets
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I believe you are right, that’s why a few months ago I started doing something about it on a personal level. I’m not comfortable talking about exactly what I’m doing but I’m doing my best to hide assets in the safest and most legal way possible.
I didn’t work hard all my working life saving and investing to have any of my money redistributed in another gov scheme, in addition to the ones that already exist.