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Updated over 6 years ago,
Should I opt out of FICA tax?
I am a licensed minister working for a non-profit ministry. I have the optIon of opting out of FICA tax. As of right now I am paying It setting aside $750/month. I was wondering If I should stop paying that tax and put that money towards InvestIng In real estate. The ImplicatIons of optIng out are not having social security (which I’m not really banking on) and not having Medicare (which is what I am manly nervous about) after I retire. Would putting that money into real estate be better than paying the tax?