Quote:
Originally Posted by rustyp
What is the real motive of this thread ? Political ? Ask your question a different way - If you are wealthy enough are you willing to give up your earned benefits for the greater good or no I sacrificed and paid into the system and now it's time to withdraw from my savings account. Almost a Catch 22.
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Waited until 70-1/2 to collect SS to maximize benefit. Would be OK living off investments without SS IF amount SS would have paid could be removed from investments without further taxation - I give up SS but you allow me to withdraw same amount of money with zero taxes due. Currently because of good stockmarket have made just over limit to not avoid IRMA so am paying $200/month for Medicare. Feel that the sacrifices I made in living frugally will come back to bite me in the a** and will leave me wondering who was the bigger fool - those who spent or those who invested and saved for their old age? Using my own investment income equal to SS benefit, if tax free, would greatly reduce what I now pay to the Federal government by putting me in a much lower tax bracket and allow me to extend the length I can live off of my own wealth.