No. of Recommendations: 1
personally I think there are more disadvantages.......I think the retirement age could be moved again....or the amount per retiree lessened......I think a Roth IRA is a better place for such monies.....

beyond that what if an emergency came up and he needed the money??? etc....

SS could even become taxable.....

but I do think you are right to assume SS will not disappear.....

the best thing that could happen for SS is the income cap of $109k....the most earned income that could be taxable be that all earned income is taxable and the rate of taxation be reduced from 11% this year to something considerably less such as 5 - 6%.......meaning upping the amount he pays on purpose would be rather silly after such a possible change.......

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.