Originally Posted by
gloopy
While clearly the smart thing to do with excess funds you don’t need for yearly liquidity, they 100% are coming for it retroactively either directly or indirectly. Wheels are already in motion to steal your SS through “means testing” because “millionaires” don’t “need” it and we have to “save” it etc.
SS needs to be fixed. A guy with $5 million in his 401k taking let's say $300k a year out gets his full SS payment. Now let's look at someone living on their SS check. If they take a job to try to make ends meet their SS is reduced if they make more than approximately $18k a year working. I saw this happen to my mother.
Same thing with rental income. I know a guy with 300 doors in his rental portfolio and he brags about still getting the full SS benefit.
So, yeah, if you're rich you shouldn't get SS benefits but you should still pay for it.