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Author: Hawkwin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76384  
Subject: Re: Home Ownership not a good investment Date: 4/23/2014 2:59 PM
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As those of us with kids in college within recent history know, assets are factored by FAFSA in determining how much you should be kicking in before financial aid can come into play. I doubt it would be all that tough for most types of liquid assets to be factored in for SS means test.

Free aid for education is in no way related to a retirement benefit for which you contributed your own money over 40+ years.

As much as politicians have talked about means testing SS, above and beyond the way in which it is already taxed and handed back to the gov't, it is not improbable that it will happen to some degree in our lifetime.

The most likely scenarios for SS (in no particular order):

Removal of or a significant increase in the current tax cap coupled with a further means testing of the income scale in retirement.

An additional income tax for those of high income (similar to the additional medicare tax for those of high income under the most recent tax law change)

An increase in the taxation of SS payments based on other forms of income (munis, divs, and roth income).

A combination of the above would go a long way to filling in any gaps in SS without resulting any current or near future (50 and older) losing any benefits. Recall that the last time SS was changed in any significant way, those that were close at all to retirement were protected from the changes. It was phased in for everyone else.
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