Prepare for “Means Based Testing.”
The latest 2016 Trustees’ report show Social Security and Medicare in dangerous fiscal positions. (Of course THEY don’t want you to know this.)
There is no doubt Congress is going to be under immense pressure to find more money.
Holders of Government sponsored 401k, IRA and other retirement plans may be at the greatest risk.
One of the Government’s methods is called “means based testing.”
If you have “the means”, we will take other benefits away from you.
The perfect example of this is social security taxation.
If you have other “means” (aka money), the Government takes away your social security by taxing it.