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re: Should I continue to max out my 401K? I'm worried about it being raided one day
Posted on 8/24/14 at 1:15 pm to Teddy Ruxpin
Posted on 8/24/14 at 1:15 pm to Teddy Ruxpin
quote:I somewhat disagree with this. Politicians still have to get elected and these untaxed accounts would be much easier for politicians to rally against and get certain voter blocks behind them.
If the government can get your 401k, they can get your rental property.
I am not saying I think it will happen, but if it did then 401k would get taken way before peoples physical property.
2
Posted on 8/24/14 at 2:53 pm to eelsuee
The point isn't which is more likely. The point is how futile it is to forgo such a tremendous benefit for some murky future that most likely would not occur in such a way that would make your contributions to a 401k effectively pointless.
I don't have time to be scared about such eventualities.
And I suggest that even if they started taxing it, the benefit even post whatever tax would still probably be in favor of contributing, and the cost of not contributing thinking this may happen is too high if it doesn't occur.
While the government is greedy, they don't want to tax out the incentive to contribute, as they won't be able to go back to the well.
I don't have time to be scared about such eventualities.
quote:
anything over $3million in 401K accounts will be taxed now to help offset the Social Security shortage".
And I suggest that even if they started taxing it, the benefit even post whatever tax would still probably be in favor of contributing, and the cost of not contributing thinking this may happen is too high if it doesn't occur.
While the government is greedy, they don't want to tax out the incentive to contribute, as they won't be able to go back to the well.
This post was edited on 8/24/14 at 2:59 pm
Posted on 8/27/14 at 2:57 pm to eelsuee
quote:
If the government can get your 401k, they can get your rental property.
I sort of agree with this.
O dont think they raid 401's but i do think a hefty tax on all passive income could happen
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