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FredHayek
PostPosted: Mon Aug 06, 2012 8:26 pm 
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Means testing will solve this. Have 50K in your IRA? No SS for you.

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archer
PostPosted: Mon Aug 06, 2012 8:49 pm 
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FredHayek wrote:
Means testing will solve this. Have 50K in your IRA? No SS for you.


Really? how many years do you think someone can live on $50,000. Since the average SS is around $14,400/year, that's about 3 1/2 years, even if it is invested and makes an income you might squeak out 5 years equivalent income.

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FredHayek
PostPosted: Mon Aug 06, 2012 9:10 pm 
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Sorry, I was exaggerating. Probably be closer to 250K in savings or 50K in income from investments per year.

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