She sounds nuts to me.
Besides her “advice” which strikes me as stark raving mad (I haven’t even heard a rumor of a suggestion that 401(k) funds will be grabbed), the idea that your wages are reduced by 401(k) matching is, at best, misguided. 401(k) matches are benefits, like health plans and bonuses — they do affect the bottom line but are expense items. Should I refuse my annual bonus because without it I would have a slightly higher wage?
It also sounds like she is saying you shouldn’t pay taxes at all, thus additional taxes are OK (Or some such similar bizarre connection).
Loony tunes.
I think you need to reread the last paragraph.. “collapse and war”. Although she is saying don’t pay taxes on moral grounds, she is also intimating that OUR ‘NEST EGGS’ WILL SOON BE EVISCERATED, ABSORBED, STOLEN, and CONFISCATED so you might as well cash out on your hard earned money before that occurs.
And a dingbat. Her advice is nonsense.
You need to get out more.
Apparently you've never heard of Teresa Ghilarducci.
Free......
Check this search out
http://search.yahoo.com/tablet/s?ei=UTF-8&p=government+taking+401&fr=ipad
I have been reading about this very thing. And of O-Shthead is re-elected, pressure from WH will be strong. Having IOU’s from this gov is a pig in the poke.
“She sounds nuts to me.”
Hysterical at the least.
First she says “pay the penalty” then she rhetorically asks “why would you pay taxes”. Well, like the other poster said: to avoid going to jail, among other reasons.
I think it is likely that the gov’t, should it continue with Dems in power, WILL try and seize (nationalize?) 401(k) plans. I think the answer to that will be, as the gun rights folks put it: molon labe.
I’m not sure if an employer can prevent you from taking your money out of a 401(k) plan, that might be true. But are you really going to quit your job over that? Right now, in this environment?
And she gives no advice as to what you’d do with your money after taking it out of the Plan. Banks are paying less than 1% so to get any return on your savings you pretty much have to go into something else. Unless it’s real estate or physical precious metals it will rely on a paper promise to pay at the end.
Will our entire civilization collapse? It’s happened before, so I wouldn’t rule it out. But if that should happen whatever $$ you’ve taken out of your retirement plan won’t help any way.
Google “Argentina+pensions” to see what desperate governments are capable of, and yes, the US Government falls into that class.
“Be Prepared” is the Scout’s Motto, always good advice. These are not times for half measures.
Only if you believe Bernie Madhoff was an anomaly.
Do you believe there are no Bernie Madhoffs in the feral government?
And you won't, in the mainstream media, until it is a fait accompli.
They called it "nationalizing" the 401(k)s.
Listen to this Mark Levin interview with Professor Theresa Gilarducci, professor of economics, who proposed to Congress that they should be nationalized.
At least she walks the walk
After MFGlobal she liquidated her own holding company and told investors to GTH out of the “market” because it was all rigged to come down like a house of cards