[MRM]

Basically Rick's fear has been articulated by a number of commentators as a possible or likely scenario in our country trying to fix its fiscal problems. That's the sum total of substance to the issue of nationalizing private retirement accounts. There is no legislation on the horizon, and the 5th Amendment prohibition against taking property without compensation should prevent such an idea being put into action. But a confiscatory tax on 401 (k)s is at least hypothetically possible.

It's unlikely and there are lower hanging fruit to be harvested before they get to retirement savings accounts. But if you're really afraid, just keep your accounts off shore. It's perfectly legal and if it makes you sleep better at night, go ahead and do it. But don't stop saving based on the premise that the government is going to nationalize private retirement savings accounts in our lifetime.