Posted: 9/4/2010 8:47:32 AM EDT
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If you make over a certain amount or max your 401k every year, will you not get your Social Security?
Tried searcing their site and coulndn't come up with anything. Thanks |
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As it stands now, no, there is no means testing for collecting SS. (Someone correct me if I am wrong? But I don't think so).
I do believe that some form of means testing is going to be put in place though. Probably right in time for me to retire of course, so that I will never see a penny of the money I paid into SS over the decades. |
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Quoted:
If you make over a certain amount or max your 401k every year, will you not get your Social Security? Tried searcing their site and coulndn't come up with anything. Thanks IIRC you get it no matter what. There have been very wealthy folks who tried without success to get the SSA to stop mailing them checks––they don't need them. It's your tax treatment that changes based on 401k and other retirement income. Many people assume SS is tax exempt since you have already paid taxes on the "contributions" in your working years. Not so. If you make above a certain amount in non-SS income, your SS is also subject to income tax. |
