Quote:
Originally Posted by AOII Angel
I have already opted out of SS once. I still had money invested in it, but for the years that I was opted out, I did not pay into the system. This was a part of Louisiana employees' retirement options. I only participated for part of my residency, but I was able to take $14,000 out of the system and rollover into a 401K. My husband took his out and paid a penalty to just keep the money. My 401K lost 45% of it's value the next year when the stock market tanked.  |
Risk or not I would love to be able to do that. The way it looks now, I'll never see the SS benefits anyway ( unless I get maimed or actually live past 80) so even if I lost 60% of my money it'd still be better than not getting anything. I'm still in my 20s and I've already paid about 34k in SS taxes; I'd probably be a millionaire by 50 if I was able to invest that money into 401k, Roth, or mutual funds ( in addition to my other investments).