Originally Posted by
tomgoodman
It’s a sneakers/charging bear situation. The $1M doesn’t have to last a lifetime; it only has to outlast everyone
else’s retirement fund.
I don't know about that... when they all run out of savings, they'll be voting for politicians who plan to seize YOUR savings.
The system is spring-loaded to divert wealth to those who are currently working, and/or those who can muster political power. CA pols were discussing retro-active tax changes at one point as a way to to feed their vast social programs... they would increase the rates on past tax years, and then retro-bill those with the means to pay. That would include folks who have subsequently moved out of state, since they are concerned that when they really start tightening the screws that those with flexible employment situations (ex pilots, work-from-home types) and retirees would leave in droves to protect their assets.
I'll diversify eventually, might even need to go offshore if that can provide legal protections.