Semiretired physician. If I saved $2 million for retirement, should my Social Security become optional?

A “Moneyist” reader, a 63-year-old semi-retired physician, asked whether Social Security should be optional for people with at least $2 million saved for retirement. The reader suggested that, in exchange for opting out of Social Security retirement benefits, the government should remove or substantially raise contribution limits for IRAs and 401(k)s, especially Roth IRAs. They argued that someone with sufficient savings has already demonstrated financial discipline and may not need the public safety net, and noted that some planners also consider self-insuring for long-term care around the $2 million to $4 million range. The columnist responded that Social Security also covers disability and survivor benefits, and argued that people face unpredictable events.