They may go after 401K’s AND IRA’s!!
I expect them to. I moved to IRA to avoid the tax hit at retirement time, but since I’m 32, I was doing it anticipating that it won’t make a lick of difference anyway. I’ve got a job that pays me more than I expected to make, so the hit that comes in my taxes will likely be offset when I stop paying into my IRA after they confiscate it.
I just hope the market completely tanks and I lose everything in it before they think about taxing it. Let them pound sand.
They will.
To many people on SS and other forms of governmental assistance. The pile of money is to large.